When investing in Startups is it better to invest as an individual or as an LLC?

It really makes no difference from an income tax perspective and will most likely have little (probably no) impact from any other perspective.

Thanks @Anonymous_, what about these 2 scenarios:

1) What about in the benefit of being able to pass on the equity holdings (equity in startups in this case) to heirs.  With an LLC you can transfer it to or add people into the LLC without triggering taxes.  Whereas, if it were to be held individually and I pass on, wouldn't the inheriting person have to pay taxes on that equity that is being passed on to them?  Or will taxes only be paid if the owner sell stake in the company.

2) If there were profits generated from the startup investments within the LLC, wouldn't I be able to write off expenses against that profit?  I can't do that if I invested individually.

An inheritance (with the exception of certain retirement plans) is generally not subject to federal income tax. The estate tax threshold is currently over $12 million and it would not make any difference whether you passed on an interest in an LLC or an interest you held individually. 

You are not going to be able to deduct your investment expenses either way. If the startup. itself, has expenses, those expenses will be deducted from the startup's gross profit, regardless. 

I'm not talking about deducting the investment expenses, that I understand.  I am talking about deducting other expenses related to operating the LLC, i.e. internet, computer equipment, phone service, etc. maybe office space if it ever comes to that.

An LLC, if engaged in a trade or business, can certainly deduct ordinary and necessary business expenses.

That's what I thought.  Thanks for the info.