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

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It’s always been a little puzzle why angel list never really properly What started in Europe, especially when, just a few years ago, funding options for poorly serviced European startups were so lacking. But when you look at them the reasons are quite simple. For starters, the US tech industry has boomed over the past ten years. Why bother spreading your resources when your home market is booming, right? Second, the sheer complexity of building such a platform across Europe’s myriad regulatory boundaries would discourage even the most courageous actors. So this is the reason why the market for such fund-raising platforms has been more or less open for so long. till now.

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wubano is a new startup based out of London that provides venture capital fund managers with the tools to raise funds and invest capital. It has now closed a post-seed/pre-Series A funding round of £4.7m or $6.3m.

Vauban says it will now deepen its technical and regulatory infrastructure, and launch a new office in Luxembourg, with its headquarters in London, to strengthen its European/EU offering. Thus it would be able to span the entire European ecosystem.

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

Vauban allows VCs and angel investors to raise funds, form angel syndicates, and manage fundraising and investment activities. The platform claims that it enables users to establish and deploy funds and SPVs, covering structuring, legal documentation, investor onboarding, banking and reporting, from multiple global investment jurisdictions, at “a fraction of the normal time and cost”. enables to do.

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

Founder and Co-CEO Remi Asti 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 set out on Digital Rail. Decided to start by rebuilding the infrastructure, as it is mission-critical to provide a great UX to everyone in the industry: GPs, LPs and founders.

Vauban comes at a time when there is heavy investment activity in European technology. Some €41.8bn were raised across Europe in the first half of 2021, up from €32.6bn in 2020.

VC firms are now managing multiple funds and are now often using special purpose vehicles (SPVs) to participate in specific deals, make secondary investments, or ‘sidecars’ with EIS vehicles or their main institutional fund. Funds are established, the whole process is becoming more complicated. , hence the increasing ‘platformization’ of space. Doing this all on spreadsheets or similar simple tool will no longer cut it.

In addition, European angel investors are increasingly professional and syndicating deals to promote dealmaking and dealflow, hence why a dedicated forum is likely to be welcome.

Founder and co-CEO Ulrich Musset says, “One of the biggest catalysts for new startup creation was the launch of Amazon Web Services in the early 2000s. We believe Vauban will have the same impact that AWS’s startup on the ecosystem.

Andy Kazrunian, investor at Outward VC, commented: “Despite the meteoric rise in alternative investments in recent years, the infrastructure the industry relies on has failed to grow. Simply creating and managing an investment medium has long, Synonymous with cumbersome and costly processes that are split across multiple service providers.Vauban’s integrated platform has turned it on its head with a relentless focus on product and user experience, which has surprisingly led to exceptional organic growth and standout in Europe Has led to emerge as the leader of the category.

Craig Anderson, partner at Pentech, said: “We love investing in category-leading companies that have great ambition for growth. We believe Vauban is building a modern infrastructure for the alternative asset market Which enables users to set up, deploy and manage their funds and SPVs in a matter of hours.

Founder and Co-CEO Remi Asti told me on a call: “We differ from AngelList because we are very international and global by design. The idea is to create a global platform, which means you can connect to LPS from anywhere in the world. can pick up, invest in a company that is anywhere in the world.And yes, we think this is our core strength, that we build everything with international LPs in mind, so you can trade multiple currencies I can collect.”

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