The 20% carry FundersClub charges seems really disproportionate to the value they add. A 20% carry for a VC makes some sense — the carry applies across the ent

The 20% carry FundersClub charges seems really disproportionate to the value they add. A 20% carry for a VC makes some sense — the carry applies across the entire fund, not just for one specific company. So a VC fund can wind up net negative, and therefore charge no carry. It's ridiculous for FundersClub to charge the same carry as a VC, but on each specific company. They're not taking any risks, or even providing much of a service. They're basically taking advantage of smaller investors with no other options, who already have the deck stacked against them. Now with this referral scheme, angels have an incentive thats at odds with their fellow (smaller) investors, which is just an irrelevant distraction to the company being funded.