

Prosper for Startups? MicroVentures Forms P2P Angel Marketplace - quant
http://www.pehub.com/68217/prosper-for-startups-microventures-forms-p2p-angel-marketplace/

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robobenjie
So will microVentures allow non-accredited angels to lend money? I've been
wanting someone to figure out a way to allow that, though I don't know the
laws well. I understand that the accredited investor law is intended to keep
widows and orphans from gambling away their money to smooth talking men with
shady business deals, but as a your person with a small amount of investment
money it is frustrating that the only way I can invest in a startup it with
labor.

I work at Anybots and see all the YC startups come through here and in an
ideal world I would invest a few hundred dollars in many of them. As I
understand it, this is illegal. It sort of feels like a tax on the poor that
only rich people are allowed to invest in startups.

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joshu
there's a bunch of work for each investor both at closing time as well as in
terms of information and communication requirements.

also, the better angels do more than just handing over some money; the better
deals are oversubscribed so you are actually in competition for a limited
space.

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shafqat
"For a nominal fee, you may fill out a preliminary MicroVentures funding
application and submit your business plan."

Pay to play? Are you kidding? All my enthusiasm got wiped out as soon as I
read that sentence.

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Austinbillc
The fee is $99 and we do that so that we get legitimate businesses who are
interested. We also have guidelines on the site to prevent businesses from
applying that we know we will decline because they don't meet our criteria.

Bill

