Private markets investing platform Bunch raises €7.3m seed to expand across Europe
It’s safe to say private market investments — which include asset classes like venture capital, private debt, real estate and private equity — have been having a bit of a moment the last couple of decades. (Everyone is an angel investor now, right?) Even outside of the European tech explosion, most people are aware of the potential for moneymaking in these sectors. And most people would want an in if they could.
Cue Berlin-based investing platform Bunch, has just raised a €7.3m seed round for its operating system (OS) that aims to open up access to these asset classes for private investors.
Bunch has built a software platform with three target customers: founders, business angels and venture fund managers. In other words, people who work in and around startups and have money to invest.
Why founders? Bunch says that by enabling investors to pool their investments it helps founders keep their cap tables clean by adding one single investor of record rather than 20-50 individual investors, thus avoiding the administrative costs they come with.
Business angels can use the Bunch platform to pool and manage their deals while venture fund managers can quickly set up special purpose vehicles (SPVs) to invest into their portfolios.
Bunch launched a beta version of its investment pooling platform in Germany and the Netherlands three months ago, and has already transacted close to €150 million of assets for 500 customers across startup investments and funds.
So far, these customers have included prolific angel investors that wanted to get in on more deals; ex-operators that have invested in VC funds that previously backed their companies; serial entrepreneurs that are plotting several new SVPs a year on the platform; and fund managers who are also using the platform to set up SVPs more easily.
Cofounders Enrico Ohnemüller and Levent Altunel founded Bunch in late 2021, having previously worked in institutional and venture capital investment — where they became acutely aware of how difficult it is to set up investment entities in Europe.
Investors can create their own investment syndicates using Bunch, and use it to track all their investments on one platform. “This helps them to share access to unique deals with their close network and lower capital requirements while diversifying their risk in early-stage and private investments,” cofounders Ohnemüller and Altunel tell Sifted.
Who’s investing in Bunch?
- Berlin-based early-stage VC firm Cherry Ventures
- Embedded capital, which led its undisclosed pre-seed round
- Angel investors including founders and C-level executives from Adyen, Klarna and Juni
Bunch has begun hiring in Germany and Netherlands, where it’s already live, and it’s now looking to expand across Europe — mainly into the Nordics, Ireland, and the UK, where it’s just hired its first team members. The company is looking to grow its current headcount of 12 to around 30 people by the end of the year — mainly across tech, sales & ops, and legal & tax roles. So far, the majority of transactions on Bunch went into startups and venture capital funds. Next, the company plans to expand into other asset classes such as real estate and crypto.
Hard work pays off. Congratulations to the entire team at Bunch on your funding. I wish you all the best in your endeavours.Shishir Gupta, Founder and CEO, StartupLanes
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