Venture investor, Chris Lynch, argues that AngelList syndicates are more helpful to an early stage startup than an accelerator. The dramatic increase in the number of accelerators during the past few years makes you wonder if the product still works.
Chris Lynch is still waging war on accelerators. A little over a year ago at the Massachusetts Institute of Technology’s annual venture capital conference, Mr. Lynch, a general partner at Cambridge, Mass., venture firm Accomplice and former chief executive of data analytics company Vertica, tangled with David McClure of 500 Startups about the value of accelerators such as Mr. McClure’s. In December, Mr. Lynch returned to the event for a keynote presentation on why investment syndicates led by entrepreneurs investing through AngelList are a better way for startups to get going. In his opinion, such syndicates offer a source of long-term capital from people with industry expertise who have a financial stake in a startup’s success. Accomplice, founded by Atlas Venture’s technology partners, is an investor in AngelList and backs a syndicate of Boston-area entrepreneurs who invest via the platform.