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‘Super angels’ fly in to aid start-ups

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Much of the venture-capital industry is undergoing a shakeout. But a growing breed of start-up investors dubbed “super angels” is rapidly raising new money—and ratcheting up competition with established venture capitalists in the process.

Aydin Senkut, a former Google Inc. executive, plans to announce that he just closed a $40 million super-angel fund from institutional investors and wealthy individuals including hedge-fund manager Peter Thiel. His fund follows a $20 million super-angel fund by start-up investor Ron Conway in May and an $8.5 million fund from by former Google executive Chris Sacca in June.

Meanwhile, former PayPal Inc. executive Dave McClure is raising a $30 million super-angel fund, according to a regulatory filing. And super-angel investor Mike Maples, who raised a $33 million fund in 2008, is raising a new $73.5 million fund, according to a regulatory filing.

Many super angels started out just as mere angels, wealthy current and former Silicon Valley entrepreneurs and executives who invest their own money in technology start-ups.

Full Story: ‘Super Angels’ Fly In to Aid Start-Ups – WSJ.com

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