A London-based platform for venture capital fund managers has been acquired by San Francisco unicorn Carta.
Vauban, which provides VCs and angel investors with the tools necessary to raise funds, create angel syndicates and effectively manage fundraising and investment activities, raised £4.7 million late last year.
It enables users to set-up and deploy funds, from multiple global investment jurisdictions, at a fraction of the usual time and cost, covering everything structuring, legal documents, investor onboarding, banking and reporting within a single integrated platform.
The value of the acquisition has not been disclosed. Vauban’s team will join Carta, with its fund establishment platform absorbed into the existing Carta business offering.
Carta is a global ownership management platform that helps companies, investors and employees manage equity and ownership. It now manages more than $2 trillion in equity for nearly two million people, and is used by nearly 30,000 companies and over half a million employees to manage cap tables, compensation and valuations.
Carta also works with over 4,500 funds, representing over $92bn in assets under administration.
At the time of its funding round last year, Vauban said more than $1 billion had been invested via the platform, with VCs including Anthemis, Passion Capital and Octopus Ventures using it.
“On one combined platform, syndicate leads and fund managers can now launch funds from the US, UK, British Virgin Islands, and soon, from Luxembourg,” said Vrushali Paunikar, VP of product for investor services at Carta.
Carta raised $500m at a $7.4 billion valuation last year in a round led by Silver Lake Partners and intended to fund acquisitions.
“We are Carta’s home in Europe, and together, we will continue to help founders, venture capital firms, and investors experience private markets in a way befitting the digital world we live in,” said Remy Astie, co-founder and co-CEO of Vauban.