Start-up investing platform AngelList announced on Monday that its start-ups will be getting $400 million from a new Chinese venture capital firm.
CSC Upshot will primarily invest in syndicates led by angels and other venture capital firms on the AngelList site. It's part of the CSC Group, one of China's three largest private equity firms with $12 billion under management.
AngelList uses syndicates to allow investors to co-invest in deals led by experienced angels and VCs.
"CSC Group's money, in addition to about half a dozen LPs [limited partnerships] that we already have in the platform, will back the top syndicate lead," AngelList co-founder and CEO Naval Ravikant told CNBC's "Squawk Alley" on Monday.