London-based online VC investor platform Vauban has closed a £4.7m funding round to build out its regulatory infrastructure, double headcount and launch a new office.
The cloud-based platform can be used by venture capital fund managers and angel investors to set up, deploy and manage funds and special purpose vehicles. This includes managing legal documents, investor onboarding, banking and reporting. It can be used across multiple investment jurisdictions.
Pentech and Outward led the pre-Series A Vauban funding round, with investment also coming from 7percent Ventures and MJ Hudson.
Funding also came from angel investors such as Nested CEO Matt Robinson, Grabayo founder Will Neale and founder and CEO of ComplyAdvantage Charles Delingpole, among others.
“Our goal is to reduce friction between capital holders, and those who need it,” said Rémy Astié founder and co-CEO of Vauban. “So, we decided to start by rebuilding the infrastructure on digital rails. Our next step is to build a super-platform and network on top of our existing platform.”
Vauban said it plans to use the funds to open a new Luxembourg office and double its employee headcount.
Vauban claims its platform draws at least one new client every day and that over $1bn has been invested via the platform since it was founded in 2018.
Notable VC users of the platform include Anthemis, Passion Capital and Octopus Ventures. Overall, the startup says it has over 5,000 limited partners using the platform.
Vauban is aiming to tap into record levels of European VC activity, with €41.8bn raised by European companies in the first half of 2021.
“Despite the meteoric growth in alternative investments in recent years, the infrastructure the industry relies on has failed to evolve,” said Andi Kazeroonian, investor at Outward VC. “Simply creating and administering an investment vehicle remains synonymous with lengthy, cumbersome and expensive processes fragmented across multiple service providers.”