An SPV (Special Purpose Vehicle) is a separate legal entity created to pool capital from multiple investors into a single investment. In startup investing, an SPV allows angel investors to combine their funds and invest collectively in a company without each investor appearing individually on the startup's cap table. This simplifies fundraising for founders while giving investors access to deals that may otherwise require larger minimum investments. AngelSchool teaches aspiring angel investors how SPVs work and when they are most beneficial in venture capital investing.