AngelList and the multitude of other crowdfunding platforms have democratized early stage investing. They’ve also created a real pain point to efficiently identify, manage and track deals across all platforms, as well as directly sourced opportunities. I recently did a quick survey of deal pipeline tools for myself and thought I’d share what I found. Keep in mind there are other tools focused on traditional CRM — what’s below are the ones that put dealflow at their core.
1. Gust (www.gust.com): Seems to be the most widely referenced tool for sourcing and managing deals. Includes deal database, deal tracking workflow, as well as collaboration with other team members and investors. Pricing requires a demo and depends on size of the enterprise. Better suited for angel groups or VCs, but there is Gust for individual investors coming soon (yay!) (signup: https://gust.com/signup/investors)
2. Proseeder (http://proseeder.com/): Good if you are involved in syndication (multiple SPVs) and need investor communication and document sharing. Pricing requires a demo and depends upon size of enterprise.
3. Streak (https://www.streak.com/): If you use gmail as your primary communication and task management tool, then Streak has a great deal flow management workflow centered around Gmail. Allows you to aggregate emails into deals, track stages and queue follow-up emails. Also lets you share deals with others via Google’s API.
4. Xenapto (http://xenapto.com/): This company is still early in development, but what I like is that it quickly pulls in information about a company in your pipeline. So while it is built around contacts, it automates a lot of the workflow that would go into a spreadsheet as you gather information on a company initiating a raise…. And it’s free (at least for now).
5. DealFlow (https://mydealflow.com/): Aimed more at established VC firms that want a customized solution.
6. Venture360 (https://venture360.co): This does a lot more than just deal pipeline management, including fund management (capital calls), portfolio management (cap table tracking, investor portal) and investor management. A lot of horsepower, though the basic package starts at only $40/mo for 20 users.
7. Hubble (http://hubble.disruption.vc/): Aimed at angel groups, incubators and small funds.
Here are some CRM tools that could be adapted to use for dealflow management, particularly for individual angels or small groups: