The article discusses the acquisition of Nova, a private equity firm’s investor management platform, by AngelList. Here are the key points from the article:
- Nova was founded in 2018 and went through Y Combinator in the summer of that year. It raised about $2 million after its initial funding.
- The company developed a digital subscriptions product that replaced subscription paperwork with digital workflows for investors.
- In 2021, Nova launched a data room product to help customers market to their investors ahead of the subscription process.
- This year, it created an investor portal so that investors can receive documents such as K-1s, see investment performance and make additional investments with Nova.
- The company’s products are now referred to as a "full stack Investor CRM" by its customers.
The acquisition was led by Avlok Kohli, CEO of AngelList, who said that the company is open to more acquisitions in the future, but only for the right fit.
