Last updated: August 2025

Important Information about the Meridian Platform

All information available through the Meridian platform is provided for informational purposes only.

AngelList is not a registered broker-dealer, funding portal, or investment adviser. It does not provide investment, legal, tax, or financial advice, and it does not solicit, recommend, or endorse any investment or securities offering on the platform. AngelList does not provide investment advice to investors, and the information displayed on the Meridian platform should not be relied upon as research, investment advice, or a recommendation of any kind. No information contained herein has been reviewed or verified by AngelList. Users are solely responsible for conducting their own independent research and due diligence, and should consult with qualified advisors before making any financial decisions.

Syndicate managers elect in their sole discretion to list investment opportunities led by one or more notable co-investors on Meridian. Investments listed on Meridian meet certain objective listing standards. The fact that these listing standards are met should not be construed as investment advice or a recommendation, nor does it mean that AngelList verified the accuracy of such information. AngelList may update these listing standards from time to time.

Individuals or firms identified as lead investors or co-investors are referenced for information purposes only. Those parties may not be affiliated with, nor do they endorse, AngelList, Meridian, or its offerings. Named investors may have access to additional information or participate under terms that differ from those available to investors on the Meridian platform. Inclusion of these names does not imply any partnership with or recommendation by those investors.

The Meridian platform does not charge commissions or success fees. Participation in any investment opportunity via the Meridian platform is subject to all applicable legal requirements, and users are solely responsible for complying with their own eligibility (e.g. accredited investor status) and legal obligations.

Investments made through the Meridian platform are private, illiquid, and speculative, and they involve a high degree of risk. Such investments are not insured or guaranteed by any governmental agency. Past performance is not indicative of future results. Any projections, targets, or return information displayed on Meridian are hypothetical and for informational purposes only. Users should not rely on any such information for the expectation of any result; all investors should conduct their own due diligence and consult their independent advisors before making any investment decisions.

AngelList makes no representation or warranty as to the accuracy or completeness of information on the Meridian platform. While the Meridian platform may require users to provide certain information or may curate data for presentation, all information about investment opportunities comes from the fund managers or other third parties. AngelList does not verify or guarantee the truth or completeness of any statements by those parties. Users assume all responsibility for verifying information and evaluating any potential investment. AngelList shall not be liable for any losses or damages arising from reliance on information provided on the platform or from interactions among users.

Nothing on this platform constitutes or should be construed as an offer to sell, or a solicitation of an offer to buy, any security or financial instrument by Meridian or by AngelList. Any investment opportunity referenced on the Meridian platform will be made only pursuant to official offering documents and definitive agreements. AngelList is not a party to any such agreements unless otherwise identified in and a party to those documents. The terms, conditions, and risk disclosures of any investment will be set forth in the offering materials provided by the fund or issuer (such as private placement memoranda, limited partnership agreements, subscription agreements, and related documents). In the event of any investment, the final agreed terms in the executed documents will control and may differ from any summary information available on the Meridian platform . All offering terms are subject to change until finalized in binding agreements. Meridian’s role is strictly limited to providing the technology platform and does not include advising on, negotiating, or executing any transaction.

By using the Meridian, you acknowledge and agree to the above terms. You further recognize that the Meridian platform is a facilitator of information only – not a broker, dealer, agent, or advisor – and accordingly, you will not seek to AngelList responsible for the success or failure of any investment or for any decision you make based on content on the platform. For more information on AngelList and its products and services, please see here.

Valuations

Investment values presented on this dashboard represent estimates of current value prepared in accordance with the methodologies described below.

For early-stage companies, valuations are generally marked up or down to a company’s latest priced round. Companies that do not have a new priced round since the last mark are held at the last mark or cost. Investments may also be marked down (but never up) at our discretion. This is an industry-standard method.

For later-stage companies, investments are sent to a third-party for valuation if the company is valued over $100M, the investment is estimated to be worth over $10M, and 24 months have passed since the last investment. Smaller investments in later-stage companies are valued using the same method as early-stage companies.

All investment value estimates and return multiples are calculated net of any fees, expenses or carry. Estimated values for early-stage companies do not account for liquidation preferences and other non-financial terms that may affect returns. While AngelList’s valuation sources and company activity updates are believed to be reliable, we do not undertake to verify the accuracy of such sources.

Investment values presented on this dashboard do not necessarily represent the current valuation estimates for such investments as of the date presented. Updates to valuation estimates may be presented on a delayed basis due to confidentiality or other considerations. The fund adviser, the lead and other investors may have access to additional or more recent information regarding investment valuations that is not available to you. We undertake no obligation to provide updates or revisions to reflect any changes in valuation estimates.

For certain investments in funds that include non-standard economic terms, the valuations reported may not account for these non-standard terms. Examples of this include funds with carry hurdles or multi-investment funds with deal-by-deal carry.

The outcome for any unrealized investment is highly uncertain and may result in a total loss or be significantly lower than the current valuation estimate. Past performance is not indicative of future returns.

This summary is not intended to be a complete description of our valuation methodologies. For details of our valuation policy, please contact us.

While AngelList’s sources for company activity updates are believed to be reliable, we do not undertake to verify the accuracy of such sources. The fund adviser, the lead and other investors may have access to material information, including information regarding investment valuations, that is not available to you.

For further information, please contact us.

Important Information Regarding Differing Investor Access to Deals and Information

Some investors on the AngelList platform have superior access to deals and information. For example, certain institutional and professional investors may have entered into separate agreements with AngelList containing strict non-disclosure obligations. Further, leads may share certain deals and additional information with select investors and not other investors on the AngelList platform.

Fund Lead Use of AngelList Products

Current or future fund leads or fund managers in an investment opportunity on the Meridian platform may use and pay for: (i) AngelList’s fund administration software and services and/or (ii) AngelList’s investor management software. This may create a potential conflict of interest, which you consent to by using the Meridian platform.

Portfolio Company Use of AngelList Affiliates

Current or future portfolio companies in this fund may use AngelList's equity management solution for cap table management, integrated RUVs, equity grants, fundraising, and more (i.e., Rollups powered by AngelList); and may pay an affiliate of AngelList for use of those services. This may create a potential conflict of interest for AngelList, which you consent to using the Meridian platform. Many AngelList portfolio companies use these paid products and services, and AngelList may offer discounts to portfolio companies from time-to-time. These relationships may create a potential conflict of interest for AngelList in relation to funds investing in portfolio companies that have used or may in the future use AngelList's paid recruiting products or Rollups powered by AngelList. By investing in a fund on the Meridian platform, you consent to the portfolio company's purchasing of paid recruiting products and services from AngelList and its affiliates on terms no less favorable than those generally provided to unrelated third-party startups.

Account Referral Income from Approved Banks. No Interest on Balances

AngelList and/or its affiliates receives referral income from one or more of the banks listed in AngelList’s Investing Banking Terms based on the amount you deposit with such a bank. Further, you acknowledge that you will not earn any interest, fees, or other remuneration based on balances held in your account at such a bank. For more information, see AngelList’s Investing Banking Terms.

Important Information About Procedures for AML/KYC

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each customer who opens an account. What this means for you: In connection with your investment, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents. For a corporation, partnership, trust or other legal entity, we will ask for the legal name, address, beneficial ownership, and other information that will allow us to identify the entity. We may also ask for additional information, such as its principal place of business, local office, employer identification number, certified articles of incorporation, government-issued business license, a partnership agreement or a trust agreement.

Confidentiality

It is important that you keep information about companies and valuation estimates presented on this dashboard confidential. Disclosure of any such information may constitute a breach of your obligations under the agreements relating to such investment and may violate AngelList’s terms of service and you may no longer be able to invest via AngelList.

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