Local Tech Wire

Michael Arrington, founder of the high-tech website TechCrunch, says in a blogpost that “super angel” investors are colluding in an attempt to shape the investment climate for startups.

“This group of investors, which together account for nearly 100% of early stage startup deals in Silicon Valley, have been meeting regularly to compare notes,” Arrington wrote of the so-called “super angels.”

“Early on it was mostly to complain about a variety of things. But the conversation has evolved to the point where these super angels are actually colluding (and I don’t use that word lightly) to solve a number of problems, say multiple sources who are part of the group and were at the dinner.”

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