[cfield]

This is one potential outcome of AngelList syndicates[0], which is I think one reason they have been vocal[1] about the SEC's implementing regulations of the securities reforms (including crowd-funding) that Congress called for in the 2012 JOBS Act.

[0] https://angel.co/help/syndicates [1] https://www.sec.gov/comments/s7-06-13/s70613-37.pdf