When you choose auto-connect, AngelList will reach out to the company with closing instructions once the investment is approved. If you want to send the email manually, then initiate closing from the Investing tab.

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Preview the email AngelList sends to the company

To initiate the closing process, AngelList will email the founders with the below message:

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What is the Company IRS (409A) option?

You may also choose to give their new portfolio company a free 409A valuation, which the company will likely need before granting equity to team members. There is no cost for GP or the company:
If you choose to include the 409A valuation, then when AngelList emails the company to initiate closing, the email will include mention of the free 409A valuation. If you choose to not include the 409A valuation, then the email does not include mention of the 409A valuation.

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How is the 409A valuation facilitated?

Participating companies will receive the 409A valuation from AngelList’s preferred 409A valuation partners. Please direct any 409A valuation-related questions to <startups@angellist.com>.

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What does the referral email look like?

When venture firms and syndicates on AngelList refer their portfolio companies to AngelList Equity, the company receives this email: