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Tuesday, December 7, 2021

Vauban, AngelList-like platform for venture capitalists and angels to run and fundraise, closes $ 6.3 million – TechCrunch

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It has always been a little riddle why AngelList never really adequately It took off in Europe, especially when, a few years ago, there were so few financing options for poorly served European startups. But the reasons are pretty simple when you look at them. For starters, the US tech industry boomed in the last ten years. Why bother to allocate your resources when your home market is taking off, right? Second, the sheer complexity of building such a platform across Europe’s myriad regulatory borders would tend to deter even the boldest players. This is why the market for such a fundraising platform has been more or less open for so long. Up to now.

Vauban is a London-based startup that provides venture capital fund managers with tools to raise funds and invest capital. It has now closed a Post-Seed / Pre-Series A funding round of £ 4.7 million or $ 6.3 million.

Vauban says it will now deepen its technological and regulatory infrastructure, launching a new office in Luxembourg to strengthen its European / European offering, alongside its London headquarters. This way you can cover the entire European ecosystem.

The investment round was co-led by Pentech and Outward, in addition to 7percent Ventures and MJ Hudson. A list of angel investors have also participated, including Nested CEO Matt Robinson; the founder of Grabayo, Will Neale; ComplyAdvantage Founder and CEO Charles Delingpole; Augmentum Fintech Partner Perry Blacher; and Al Giles of legal services provider Axiom.

Vauban enables venture capitalists and angels to raise funds, create angel syndicates, and manage fundraising and investment activities. The platform claims it allows users to configure and deploy funds and SPVs, from multiple global investment jurisdictions, at “a fraction of the usual time and cost,” covering structuring, legal documents, investor onboarding, banking and reporting.

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

Founder and Co-CEO Rémy Astié said: “Our goal is to reduce friction between those who have the capital and those who need it to solve humanity’s greatest problems. So we decided to start by rebuilding the infrastructure on digital rails, because it is critical to providing a great user experience to everyone in the industry – GPs, LPs, and founders. “

Vauban has appeared at a time when there is a lot of investment activity in European technology. Some 41.8 billion euros were raised across Europe in the first half of 2021, up from 32.6 billion euros in 2020.

Now that venture capital firms manage multiple funds and now often use Special Purpose Vehicles (SPVs) to engage in specific deals, make secondary investments or establish ‘sidecar’ funds alongside EIS vehicles or their main institutional funds, the entire process is becoming more complex. Hence the growing ‘platform’ of space. Doing all this in spreadsheets or, equally simple tools, will no longer be enough.

Furthermore, European angel investors are increasingly professionalizing themselves and syndicating deals to boost trading and transaction flow, so a dedicated platform is likely to be welcome.

Ulric Musset, Founder and Co-CEO, says: “One of the biggest catalysts for the creation of new start-ups was the launch of Amazon Web Services in the early 2000s. We believe that Vauban will have the same impact that AWS has had on the startup ecosystem “.

Andi Kazeroonian, Outward VC Investor, commented: “Despite the meteoric growth of alternative investments in recent years, the infrastructure on which the industry relies has not evolved. The simple creation and management of an investment vehicle remains synonymous with long, cumbersome and expensive processes fragmented across multiple service providers. Vauban’s integrated platform has turned this around with a relentless focus on product and user experience, which, unsurprisingly, has led to exceptional organic growth and its emergence as a prominent category leader in Europe. ” .

Pentech Partner Craig Anderson added: “We like to invest in class leading companies with high growth ambitions. We believe that Vauban is building a modern infrastructure for the alternative asset market that allows users to set up, deploy and manage their funds and SPV in just a few hours. “

Founder and Co-CEO Rémy Astié told me during a call: “We are different from AngelList in that we are very international and global by design. The idea is to create a global platform, which means that you can upload from LPS anywhere in the world, to invest in a company that is anywhere in the world. And yes, we believe that that is our main strength, that we build everything with international LPs in mind, so that it can increase in multiple currencies. “

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