Tech

Vauban, an AngelList-like platform for VCs and angels to run and raise funds, closes $6.3m – TechCrunch

Why it was always a little puzzle Angellist Really never Properly It took off in Europe, especially a few years ago, when there was a huge shortage of funding options for poorly serviced European start-ups. But looking at them, the reason is pretty simple. First, the US technology industry has been booming over the last decade. Why bother to spread your resources when your domestic market is taking off? Second, the overwhelming complexity of building such a platform across Europe’s myriad regulatory boundaries tends to discourage even the most daring parties. As a result, the market for such financing platforms has been more or less widespread for a long time. until now.

Vauban Is a new London-based startup that provides venture capital fund managers with the tools to raise funds and invest capital. The post-seed / pre-series A funding round of £ 4.7m or $ 6.3 million has ended.

Vauban says it will deepen its technical and regulatory infrastructure, headquartered in London and open a new office in Luxembourg to enhance its European / EU services. Therefore, it can span the entire European ecosystem.

The investment round was jointly led by Pentech and Outward, in addition to 7% The Ventures and MJ Hudson. A roster of angel investors, including the CEO of Nested Matt Robinson, is also participating. Wilneil, founder of Grabayo. Charles Delling Paul, Founder and CEO of Comply Advantage. Partner of Augmentum Fintech Perry Blacher. Al Giles of Axiom, a legal service provider.

Vauban allows VCs and angel investors to raise funds, create angel syndicates, and manage financing and investment activities. The platform provides funds and SPVs with “a small part of normal time and cost” where users cover structured, legal documents, investor onboarding, banking, and reporting from multiple global investment jurisdictions. Claims to be able to set up and deploy.

Vauban says he is onboarding “at least one new client every day” and that current VC users include Anthemis, Passion Capital and Octopus Ventures. In total, over 5,000 LPs are using the platform.

Founder and Co-CEO Rémy Astié said: “Our goal is to reduce the friction between those who have capital and those who need it to solve humanity’s biggest problems. So we’re rethinking our digital rail infrastructure. We decided to start by building because it’s mission-critical to provide great UX to everyone in the industry, including GPs, LPs, and founders. “

Vauban emerged during a period of huge investment in European technology. In the first half of 2021, about € 41.8 billion was raised across Europe from € 32.6 billion in 2020.

Venture capital manages multiple funds and establishes a special purpose vehicle (SPV) to participate in specific transactions, secondary investments, or to set up a “sidecar” fund with an EIS vehicle or its major institutional fund. The whole process is more complicated because it is often used. Therefore, the “platformization” of space is increasing. Doing all this with a spreadsheet or a similarly simple tool will no longer cut it.

In addition, European angel investors may be welcomed with a dedicated platform as they specialize and syndicate transactions to facilitate the closing and flow of transactions.

Ulric Musset, Founder and Co-CEO, said: “One of the biggest catalysts for creating new startups was the launch of Amazon Web Services in the early 2000s. Vauban believes it will have the same impact that AWS has had on the startup ecosystem.”

Andi Kazeroonian, an investor at Outward VC, commented: “Despite the rapid growth of alternative investment in recent years, the infrastructure on which the industry depends has not evolved. Simply creating and managing investment vehicles has long been fragmented across multiple service providers. It remains synonymous with a tedious and costly process. Vauban’s integrated platform changes this head-on with a constant focus on products and user experiences, and of course, with extraordinary organic growth and Europeans. It led to the rise as an outstanding category leader. “

Craig Anderson, a partner at Pentech, said: Vauban believes it is building a state-of-the-art infrastructure for the alternative asset market that allows users to set up, deploy and manage funds and SPVs in just a few hours. “

Founder and Co-CEO Rémy Astié said on the phone: The idea is to create a global platform. This means you can source from LPS anywhere in the world and invest in a company anywhere in the world. And yes, I think that is our core strength. We are building everything with international LPs in mind, so we can raise in multiple currencies. “

Vauban, an AngelList-like platform for VCs and angels to run and raise funds, closes $6.3m – TechCrunch Source link Vauban, an AngelList-like platform for VCs and angels to run and raise funds, closes $6.3m – TechCrunch

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