French startup Roundtable has raised $3.2 million (€3 million) in funding from a hundred business angels. That’s quite a group of individual investors – but that’s because Roundtable runs the angel investment platform for European startups. Backed by eFounders, the company takes care of administrative, legal and financial processes related to startup investments.
Roundtable is not the first investment forum to focus on startup investment. In particular, AngelList has widely distributed group investments with AngelList Syndicates. Basically, an angel investor brings an investment opportunity to the stage and other angels can follow the lead angel in agreement.
Angelist isn’t the only company that facilitates startup investment. For example, in the UK, Seedrs and Odin manage crowdfunding deals for startups.
The Roundtable focuses specifically on European startups and works specifically for startups based in France, Belgium, the Netherlands and Luxembourg. When investors want to buy shares in a startup, Roundtable sets up a special purpose vehicle (SPV) in France or Luxembourg. The angel in charge of the SPV can decide to allocate certain interest from other investors in the vehicle.
The platform currently charges 1% of the money raised by the vehicle, with a minimum of €5,000 and a maximum of €15,000. There are also some fees associated with secondary sales. So far, the company’s first few months have been great as Roundtable has already secured more than 100 deals. It represents €50 million in assets under management.
Due to the social features of the platform, influential angels bring deals and use networks to increase the amount collected. Among the most active angels on the platform are Roxanne Varza, who created the community of women business angels, Peter-Jan Bouton in the Belgian tech ecosystem, Christopher Zemina in the German/Austrian region, Olivier Pailhes, co-founder of Ercal in Spain, Paul etc.
Many of these angels have invested in Roundtable itself. And there was already one exit for Roundtable’s investment — space tug startup Launcher was acquired by Vast (see TechCrunch’s coverage of the deal).
Overall, this is not the biggest fundraiser of the year. But I’m sure the Roundtable will come up more and more in future investment conversations.
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