Vauban

2023年5月30日

小金額的投資者的投資平台還將歐洲的天使生態係統正在進行二次交易——所以是平台設計的數量去支持他們。最新推出瑞士HackCapital投資平台,“小金額”投資者在創業和風險投資基金。它連接幾個類似的初創公司,如倫敦的奧丁,Carta-owned Vauban和柏林群——“滾”小額支票投資者,使投資管理數百人少的噩夢。HackCapital,特別專注於行業的影響,還想要方便用戶出售他們的股票——交易稱為輔助,這樣他們就可以投資到生態係統。廣告最後,它還希望提供融資工具——如債務——幫助用戶從形成到退出,HackCapital Arman Anaturk CEO也是食品科技社區的創始人FoodHack和氣候技術事件HackSummit告訴篩選。HackCapital是如何工作的呢?HackCapital有幾個客戶群體,包括天使投資人、創業者和新興的基金經理。合資格投資者使用的平台可以建立世界各地——從智利到西班牙,並允許美國和歐洲投資者投資相同的成本。當他們想讓早期投資者的現金,他們太稀釋大後期資金之前,意味著他們可以投資到生態係統,Anaturk說。特別相關的投資氣候技術和deeptech,他說,“在創新周期需要更長的時間比典型的10年期基金回報”。 Secondaries are hard to do with a traditional special purpose vehicle (SPV), a mechanism typically used to pool investors’ capital. If one investor wants to sell their share in an SPV, they have to ask for permission from every other investor. “Physically leaving an SPV is a big headache,” says Anatürk. Instead, HackCapital uses a Luxembourg-based securitisation vehicle. “That means everything runs through one compartment, while all the risk is segmented. The debt agreement is with us; you own this many shares in X company via HackCapital.” Sifted Newsletters Join to Sign Up That means for anyone to sell their share in a company or a fund, they just need a buyer, a seller and permission from the deal lead — typically an angel syndicate or startup — and to decide on a price. In the future, Anatürk says, HackCapital could organise auction events like those already run by private equity investment platform Moonfare. No secondary transactions have taken place on HackCapital yet — but the infrastructure is ready, says Anatürk. HackCapital will take a 0.5% redemption fee on the share value of secondary transactions. How does it work for fund managers? HackCapital’s legal setup reduces the administrative burden and costs of pooling capital, says Anatürk — and should make it very price-competitive with its peers. “We’re on par with Odin and Vauban today, but we will be cheaper.” It costs around €30k for an emerging fund manager to set up a fund on HackCapital — far less expensive than a traditional setup. That’s because HackCapital’s platform will enable it to strip out many of the intermediaries — like lawyers and accountants — typically involved in setting up a new fund and processing transactions. Advertisement In time, HackCapital will fully transfer to a blockchain ledger — legal in Luxembourg since March — which will further bring down costs. It will also make KYC (know your customer) checks easier. Why VCs need this now It’s harder for VCs to raise money than it has been for years so taking investment from small-ticket investors is a far more interesting proposition than it used to be, says Anatürk. "There’s been such a drop in interest in private markets, and climate funds have become pretty densely populated. "Funds didn’t care about people like you and I before, now funds are looking for people like us… The pipeline of feeder funds is huge right now, so many are looking into this opportunity." Advertisement