I have been thinking for a long while that China needs an AngelList. AngelList revolutionize the way to raise investment, bringing more transparency and more fair chance for entrepreneurs to get funded regardless of their original network.
I particularly remember reading a PPT on Slideshare about someone how raise money on AngelList and offline and how the connections nodes expend so much faster and meeting though AngelList give much more result than offline intro (who the entrepreneur concludes was more time consuming than anything). Unfortunately I could find back this presentation. But I remember thinking:
“Damned, China is 10 times worst than US when it come to reliance on connections and power balance investors/entrepreneurs.., we need an AngelList here”!
Services like AngelList are making the startup investment world more organized and efficient than ever. Quickly, startup investing is looking more like the public markets, and power is quickly shifting to the entrepreneur from the investors.
So we really need one in China…
And here we have one!
It is called AngelCrunch, has been launched just 3 months ago (2011-11-11 very symbolic date!) and hase already 138 Angels.
It is pretty well done, open to any entrepreneurs, easy to create your project (take maybe 6 minutes). Very good UI for a Chinese site I have to say!
And as entrepreneur you can not check others projects, a very important issue in China where people fear so much copycat.
It still miss profiel integration with Weibo, Renren… but i am sure it will come pretty fast 🙂
Dont know who did this site but, well done guys!
Update! My colleague just mentioned to me this other service,http://ctquan.com/, in close Beta and probably Innovation Works project (most of Angel on the welcome page are form TianshiHui ????????? – a group of high level Angels close to Lee Kaifu).
It is ok to have several services, duplicate the work for entrepreneurs but maybe after sometime one of the services will differentiate by the quality of projects. Tianshihui is in close Beta but I hope they won’t make it a Exclusive service (i mean a servie that is not open to all projects). Because that is the beauty of AngelList, it is open and accessible for all.