AngelList has announced the creation of Angel Funds. These funds are designed to be the easiest way to start a “full-fledged” venture fund. Using their back-end technology, these investment vehicles can scale more rapidly minus much of the back office hassle. The funds operate like a traditional venture fund. They raise capital up front and angels can contribute to their own fund. Angel Funds can also raise capital from any backer on AngelList including traditional VCs. The Angel Funds are said to complement their Syndicate model that allows investors to back one startup at a time. Angel Funds require investors to commit to building a portfolio, and to commit to investing only through the fund while it has capital. Backers also commit to all of the fund’s investments up front.