Meet Roundtable. This new startup is backed by EFounders and aims to provide community-driven angel investment opportunities for European startups. The company created a platform to simplify the legal, financial and administrative challenges associated with angel investments.
Roundtable is a great resource for angel investors looking to raise capital for their portfolio companies. They can set up an EU-based special purpose vehicle (SPV), and invite their friends to join them in investing in a startup.
Individuals who aren’t professional investors will find it easier to get in because they don’t need to deal with an accountant, lawyer, or banker.
The SPV can be set up by the lead angel. They may also choose to receive some carried interest from other investors, but this is optional. Roundtable can handle partial exits if investors wish to exit a startup but want to stay shareholders.
Roundtable CEO Evan Testa, co-founder of Roundtable, stated that he is launching a solution to meet the needs of European non-professional investors. He said that the solution will allow them to invest in “just a few clicks” — extreme standardization and legal innovations of SPVs, a platform to connect with members of the community and get the most out of everyone when they come to network and experience. Roundtable was founded by Evan Testa and Julien Fissette, as well as Simon Ternoir.
Roundtable is currently active in France, Belgium, the Netherlands, and Luxembourg. Roundtable has helped facilitate 40 deals worth nearly EUR20million ($20 million today at the current exchange rate). Each investment averages 20 investors.
Roundtable isn’t content to stay at AngelList. After completing one-off deals, Roundtable plans to empower angel investors who want to be their own general partners in a small VC fund.
It’s obvious that AngelList Europe has the potential to be a European equivalent to AngelList due to legal obstacles that angel investing presents. It will be fascinating to see if angel investors embrace a standard platform such as Roundtable in the near future.