Newly launched US-based FundersClub has invested $510,000 in Virool, a social video advertising startup. Also involved was incubator programme Y Combinator, seed fund 500 Startups and Russian businessman Yuri Milner, who runs the fund DST Global.
Formed in 2012, FundersClub, which has over 3000 members, is an online marketplace that allows accredited investors become equity holders in FundersClub-managed venture funds. FundersClub selects start-ups and then lets its members, who have an annual salary of more than $200,000 or net worth of over $1m, invest online. The angels’ money is pooled together and invested under the FundersClub name, as one entity.
In October FundersClub raised $6m in its seed round from a consortium of investors including chip maker Intel’s corporate venturing unit, Intel Capital.
Earlier this year Virool raised $400K from TMT Investments.