llms.txt
# Roundtable
> Roundtable is the platform and infrastructure for private markets in Europe. It handles the legal, administrative, and regulatory operations behind private investments — so founders, angels, syndicate leaders, and fund managers can raise and deploy capital through SPVs and funds instead of spreadsheets and WhatsApp groups.
Roundtable creates and administers a Special Purpose Vehicle (SPV) per deal — typically a French SAS or SC, or a Luxembourg SCSp — to pool many co-investors into a single, clean line on a startup's cap table. The platform covers onboarding (KYC/AML), fundraising, capital calls, distributions, portfolio management, and investor reporting end to end.
It serves four audiences: founders raising a round, investment clubs and angel syndicates, fund managers running EuVECA-compliant vehicles, and individual investors joining clubs. Roundtable is based in Paris, founded in 2022, and is registered with Luxembourg's CSSF as a EuVECA manager and Alternative Investment Fund Manager. Co-founders: Evan Testa (CEO), Simon Ternoir (CTO), and Julien Fissette (CPO). Roundtable is backed by the Hexa startup studio (formerly eFounders).
Roundtable has crossed €1B+ in commitments, with 600+ investment communities, 30,000+ investors across 100+ nationalities, 1,000+ deals, and 15+ funds on the platform.
Pricing: setting up and administering an SPV for 7 years costs 1% of the amount raised, net of tax, with a €5,000 minimum; an additional €100 per co-investor applies above 20 co-investors. Partial exits and distributions are charged 1% (minimum €2,500, capped at €20,000). Secondary transactions are charged a flat €1,000 per transaction. Defense and dual-use deals carry a €3,000 add-on.
## Key facts
- What it is: the platform and infrastructure for private markets in Europe, running SPVs and funds end to end (onboarding and KYC/AML, fundraising, capital calls, distributions, portfolio management, and reporting).
- Structures: one SPV per deal, typically a French SAS or SC, or a Luxembourg SCSp; plus EuVECA-compliant funds.
- Regulation: registered with Luxembourg's CSSF as a EuVECA manager and Alternative Investment Fund Manager (AIFM).
- Setup speed: SPVs and club deals go live in about a week; EuVECA funds launch in days.
- Pricing: 1% of the amount raised to set up and administer an SPV for 7 years, net of tax, with a €5,000 minimum (full breakdown above).
- Deal size: roughly €30k to €20M per deal.
- Traction: €1B+ in commitments, 600+ investment communities, 30,000+ investors across 100+ nationalities, 1,000+ deals, and 15+ funds.
- Audiences: founders, angel syndicates and investment clubs, fund managers, and individual investors, plus family offices and private banks.
- Headquarters: Paris, France.
## Solutions
- [For Founders](https://www.roundtable.eu/solutions/founders): Raise without friction and keep a clean cap table by consolidating many small investors into one SPV.
- [For Investors](https://www.roundtable.eu/solutions/investors): Join investment clubs and invest in private markets through SPVs.
- [For Fund Managers](https://www.roundtable.eu/solutions/funds): Launch and run a VC fund in Europe — LP onboarding, capital calls, distributions, reporting, and EuVECA compliance.
- [For Investment Clubs](https://www.roundtable.eu/solutions/investment-clubs): Build and scale an angel syndicate or investor community.
- [For Family Offices](https://www.roundtable.eu/solutions/family-offices): Structure club deals and feeder SPVs for direct and fund investments, with capital calls, distributions, and consolidated multi-currency reporting.
- [For Private Banks](https://www.roundtable.eu/solutions/private-banks): Structure feeder funds and club deals for private-banking clients, with onboarding, DocGen, and compliance.
- [Feeders & co-investment SPVs (for fund managers)](https://www.roundtable.eu/solutions/investment-funds): Structure feeder funds and co-investment SPVs for LPs, with CSSF-registered Luxembourg compliance.
- [Pricing calculator](https://www.roundtable.eu/pricing-calculator): Estimate SPV setup and management costs for a given raise.
## Core topics (pillar guides)
- [What is an SPV? Complete guide](https://www.roundtable.eu/spv): How Special Purpose Vehicles isolate financial risk, streamline fundraising, and pool investor capital into a single entity.
- [How to choose an SPV platform](https://www.roundtable.eu/spv/how-to-choose-platform): A buyer's guide comparing fees, legal structures, compliance, governance, and operational capabilities.
- [Alternative Investment Funds (AIF) explained](https://www.roundtable.eu/alternative-investment-funds): A complete overview of AIF types, strategies, structures, and fees.
- [SCSp: Luxembourg special limited partnership](https://www.roundtable.eu/learn/scsp): What Luxembourg's SCSp structure is and when to use it — the vehicle behind many Roundtable SPVs and funds.
## Company
- [Team](https://www.roundtable.eu/team): Leadership and staff, including co-founders Evan Testa (CEO), Simon Ternoir (CTO), and Julien Fissette (CPO).
- [Customers & case studies](https://www.roundtable.eu/clients): Founders and syndicates using Roundtable, including Proxima Fusion, Gladia, Pruna AI, Kolet, Credibur, Eclipse, Blue Chips, Super Capital, Better Angle, and Paradise Club.
- [Press & newsroom](https://www.roundtable.eu/press): Company announcements and media coverage. Roundtable ranked #4 in the Sifted 100: France & Benelux (2026), the top-ranked fintech on the list, on a verified two-year revenue CAGR above 500% (and #14 in the Europe-wide Sifted 250 in 2025).
- [Roundtable Academy](https://www.roundtable.eu/academy): Educational programming for syndicate leaders and angel investors.
- [Contact](https://www.roundtable.eu/contact-us): Get in touch or book a demo.
## Customer stories — founders & startups
- [UMH](https://www.roundtable.eu/clients/umh): Simplifying cross-border investment for a German tech startup — €5M raised.
- [Proxima Fusion](https://www.roundtable.eu/clients/proxima-fusion): Simplifying angel onboarding for Europe's fastest-growing fusion energy startup (Series A).
- [Gladia](https://www.roundtable.eu/clients/thibaut-le-boulaire-gladia): Using an SPV to raise smart and scale fast (Series A).
- [Pruna AI](https://www.roundtable.eu/clients/rayan-nait-mazi-pruna-ai): Enabling international business angels made easy — €6.2M raised, 12+ investors.
- [Kolet](https://www.roundtable.eu/clients/eduardo-ronzano-kolet): Managing angel investments at scale for a fast-growing startup — €5M raised, 40+ investors.
- [Credibur](https://www.roundtable.eu/clients/credibur-nicolas-kipp): Simplified SPV setup for European fintech innovators — 15+ investors, pre-seed.
- [Eclipse](https://www.roundtable.eu/clients/augustin-derville-eclipse): How this energy startup brought in 40+ business angels — €5.5M raised (€500k via SPV).
- [Pletor](https://www.roundtable.eu/clients/ferdinand-terme-pletor): Closing a high-impact round with zero admin hassle — €1.5M raised.
- [Celest.Science](https://www.roundtable.eu/clients/leo-lemordant-celest-science): Streamlined SPV governance and frictionless fundraising for climate tech — €2.3M raised (€500k via SPV).
- [Studio Paillette](https://www.roundtable.eu/clients/geoffroy-germano-studio-paillette): Raising €600k and keeping a clean cap table thanks to an SPV.
- [JD2M](https://www.roundtable.eu/clients/jd2m): A French search fund success story.
## Customer stories — syndicates, clubs & investors
- [Anyma Capital](https://www.roundtable.eu/clients/anyma-capital): Building a family office syndicate that sets the standard.
- [Better Angle](https://www.roundtable.eu/clients/baptiste-hamel-better-angle): Flexibility, speed, and a no-nonsense approach to angel investing — €12M+ via SPV, 200+ members.
- [Blue Chips](https://www.roundtable.eu/clients/blue-chips): Facilitating secondary investments in pre-IPO leaders like OpenAI, Stripe, and Databricks.
- [Wolfpack](https://www.roundtable.eu/clients/christophe-maurissen-20-years-investing-in-private-equity): From private circle to public syndicate.
- [Future Fund](https://www.roundtable.eu/clients/christopher-zemina-from-vc-to-syndicate-lead): Investing early on a deal-by-deal basis with a demanding community.
- [Super Capital](https://www.roundtable.eu/clients/corentin-orsini-super-capital): A public community for scaling up early-stage businesses in France — 1,000+ members, 40–60 deals/year.
- [EdenBase](https://www.roundtable.eu/clients/edenbase): Setting the standard for frontier technology SPVs.
- [Le Club Startup](https://www.roundtable.eu/clients/guillaume-and-eytan-le-club-startup): Invest less, invest better, with committed co-investors.
- [Quentin Nickmans](https://www.roundtable.eu/clients/interview-quentin-nickmans): Angel investing and leading a syndicate.
- [Valentin Lautier](https://www.roundtable.eu/clients/interview-valentin-lautier): Finding investment ideas in the Financial Times.
- [Endgame Capital](https://www.roundtable.eu/clients/john-mairlot-endgame-capital): A climate tech syndicate delivering solutions with massive impact — €1M+ deployed, 5 deals.
- [Paradise Club](https://www.roundtable.eu/clients/maxime-paradis): An investor community combining capital, mentorship, and mutual support — 700+ members.
- [Mestral Ventures](https://www.roundtable.eu/clients/mestral-ventures): Transforming SME succession deals into high-value investment opportunities.
- [Mozza Angels](https://www.roundtable.eu/clients/mozza-angels-europes-first-product-led-syndicate): Europe's first product-led syndicate that invests early and helps teams build better products — 50+ members.
- [m.ai club](https://www.roundtable.eu/clients/nicolas-marchais-investing-in-european-ai-startups-with-m-ai): European AI community and expert deal flow.
- [Unhiders Angels](https://www.roundtable.eu/clients/paul-le-syndicate-unhiders-angels): Opening up access to capital beyond conventional profiles.
- [Gold Diggers](https://www.roundtable.eu/clients/roxanne-varza-bringing-more-women-to-cap-tables): An all-female investment syndicate getting more women on cap tables.
- [One Green](https://www.roundtable.eu/clients/vanessa-proust-from-ey-partner-to-fund-and-community-manager): Curious business angels, smart money, and closer ties between founders and investors.
## Tools & resources
- [Investor database](https://www.roundtable.eu/investor-database): Searchable database of European business angels and VC investors by country, industry, and investment focus.
- [Investment glossary (index)](https://www.roundtable.eu/glossary): Index of 100+ defined terms across SPVs, venture capital, private equity, and fund management.
## How SPVs and private markets work (guides)
- [What is a cap table](https://www.roundtable.eu/learn/glossary-what-is-a-cap-table)
- [Keeping a clean cap table](https://www.roundtable.eu/learn/clean-cap-table)
- [The economic logic of a founder SPV](https://www.roundtable.eu/learn/founder-spv-to-save-money)
- [SPV vs. fund: what's the difference?](https://www.roundtable.eu/learn/what-is-the-difference-between-an-spv-and-a-fund)
- [How to start an angel syndicate](https://www.roundtable.eu/learn/how-to-start-an-angel-syndicate)
- [How to find angel investors](https://www.roundtable.eu/learn/how-to-find-angel-investors)
- [How investors get paid back](https://www.roundtable.eu/learn/how-do-investors-get-paid-back)
- [Liquidity options for SPV investments](https://www.roundtable.eu/learn/liquidity-options-for-spv-investments)
- [Evaluating VC funds: IRR, DPI, TVPI and multiple](https://www.roundtable.eu/learn/evaluating-venture-capital-funds-irr-dpi-tvpi-and-multiple)
- [What is a funding round](https://www.roundtable.eu/learn/glossary-round)
- [Equity round explained](https://www.roundtable.eu/learn/glossary-equity-round)
- [Carried interest (carry)](https://www.roundtable.eu/learn/glossary-carried-interest-carry)
- [Capital call / drawdown](https://www.roundtable.eu/learn/glossary-capital-call-drawdown)
- [LP (limited partner / co-investor)](https://www.roundtable.eu/learn/glossary-lp-limited-partner-co-investor)
- [GP (general partner)](https://www.roundtable.eu/learn/glossary-gp-general-partner)
- [Angel investor](https://www.roundtable.eu/learn/glossary-angel-investor)
- [KYC (know your customer)](https://www.roundtable.eu/learn/glossary-kyc-know-your-customer)
- [AML (anti-money laundering)](https://www.roundtable.eu/learn/glossary-aml-anti-money-laundering)
- [CSSF (Luxembourg financial regulator)](https://www.roundtable.eu/learn/cssf-commission-de-surveillance-du-secteur-financier)
- [AMF (French financial regulator)](https://www.roundtable.eu/learn/amf-autorite-des-marches-financiers)
## Blog & insights
- [Q1 2026 product updates](https://www.roundtable.eu/blog/q1-2026-product-updates)
- [The role of SPVs in startup funding](https://www.roundtable.eu/blog/the-role-of-spvs-in-startup-funding)
- [Community is the future of angel investing](https://www.roundtable.eu/blog/community-is-the-future-of-angel-investing)
- [Alumni syndicates are coming to Europe](https://www.roundtable.eu/blog/alumni-syndicates-are-coming-to-europe)
- [Why smaller fund managers should not use reverse solicitation](https://www.roundtable.eu/blog/why-smaller-fund-managers-should-not-use-reverse-solicitation)
- [What are anti-money-laundering procedures](https://www.roundtable.eu/blog/what-are-anti-money-laundering-procedures)
- [European angel investors are about to surge: an economics take](https://www.roundtable.eu/blog/the-number-and-quality-of-european-angel-investors-is-about-to-surge-an-economics-take-on-why)
## Optional
- [Help center & documentation](https://docs.roundtable.eu): Product help, operational guides, and detailed pricing.
- [Pricing details (help center)](https://docs.roundtable.eu/en/articles/6211687-roundtable-pricing): Full breakdown of SPV setup, management, and secondary-transaction fees.
- [Platform terms of service](https://www.roundtable.eu/platform-terms-of-services)
