After years in M&A and angel investing, Alessandro Santero saw an opportunity to do private market deals differently. Stepping away from traditional banking, he launched Anyma Capital, a syndicate bringing together Europe’s leading HNW families and family offices to invest in exceptional companies and deals, with a hands-on approach and a sharp eye for value.
With a flexible model that goes beyond traditional fund structures, Anyma Capital invests across the spectrum of private markets, with a core focus on venture capital alongside private equity, real estate, and private debt, delivering a balanced portfolio across alternative assets. Built on a foundation of trust, excellence, and a strong community, Anyma has quickly positioned itself as a key partner for both investors and founders, identifying exceptional investment opportunities and backing companies with disruptive ideas and a proven path to profitability.
To deliver on his vision, Alessandro needed a partner who could match his standards for transparency, professionalism, and regulatory compliance. Luxembourg was the natural choice, but the existing SPV solutions on the market fell short of expectations – too rigid, too costly, and not fully aligned with regulatory demands.
Roundtable offered exactly that: a transparent, fully digital solution that simplified SPV setup and management while earning the trust of regulators and investors. More importantly, Roundtable’s team was always present, ensuring deals could move at Anyma’s pace without ever compromising on the quality of execution.
Key takeaways:
- Anyma Capital is redefining private market investment for leading investors and family offices, with a flexible syndicate model spanning VC, private equity, real estate, and private debt, only backing deals with proven potential and building long-term partnerships that go well beyond capital.
- Even under strict due diligence, Roundtable’s platform met every standard, providing a fully compliant, transparent Luxembourg SPV structure that earned the trust of Anyma’s investors and regulator, which was key for Alessandro.
- Anyma’s investors – many of them new to the platform – found onboarding and participation simple and intuitive, thanks to Roundtable’s digital tools and proactive support.
- Thanks to the team’s professionalism, availability, and the uncompromising quality of their work, Roundtable has become a true strategic partner for Anyma – adapting to short timelines, providing direct help to investors, and consistently going above and beyond to support Anyma’s growth and ambitions.
Roundtable: Could you tell us about your background and your previous investment experience?
Alessandro Santero: Sure. I’ve been working in M&A for more than six years. During that period, I became an active business angel, investing actively into startups and leveraging my network as well as my experience in M&A to advise founders and help them create value. That approach quickly delivered tangible results and gave me access to increasingly better deals, as founders often referred me to one another as a valuable investor to have on the cap table.
Then, around 2018, venture capital really took off as an asset class; everyone wanted to get in. Many large European families approached me, either to get access to deals or for advice on their private market investments. Eventually, it reached a point where many of them encouraged me to pursue this full time, and, sharing their view, I decided to leave banking.
Initially, I considered launching a venture fund. However, I noticed a lot of pain points in the fund model, especially in terms of being able to execute my own investment vision: narrow scope, limited flexibility, and lots of work on admin and regulation. That led me to create Anyma nearly three years ago.
Anyma is a syndicate of large European families and family offices investing across the spectrum of private markets. We focus on venture capital, which is our core asset class, but we also do private equity, real estate, and private debt.
When I launched Anyma Capital, I was looking for an SPV administrator and a partner. I looked into all the players in Europe but none of them were the perfect fit. Plus, we’re regulated through our FCA-authorised principal firm in the UK, and our regulator wasn’t entirely happy with the usual names that were there before Roundtable.
On top of that, I really wanted to set up my SPVs in Luxembourg, because we have investors from all over Europe: we wanted something transparent in terms of tax setup, and well-recognized across the investor community.
That’s when a friend of mine told me about Roundtable. I did my first deal with the platform, and now I use it for all my deals; we’ve grown together, which I really appreciate.
I’ve been recommending Roundtable to everyone now – when companies deserve it, it feels great to recommend them to others.
Roundtable: We really appreciate it.
Alessandro Santero: It’s true. I’ve seen the product and company evolve rapidly, always in the right direction. And, importantly, always with the same professionalism as in the beginning.
The platform itself is very easy to use, and the team is flexible with timelines, even for last-minute deals. Plus, they’re very present, working late when we work late, and always there to support us. It’s been incredible.
Our regulator did extensive due diligence on Roundtable, to ensure that everything was compliant and in line in terms of regulation – and I must say that they’re very strict. For them as well, it was a perfect fit; they’ve since recommended Roundtable to some of their own clients.
The whole team, from the founder to our account manager to the legal team, has been there for us. At the beginning, when we had to explain the LPA to some investors, or when an investor was going through KYC or KYB, the team was always there to help and I genuinely appreciate that. Roundtable is a real partner for us – and an important one at that.
We’ve had two account managers so far, and I have to say, both have been extremely professional, always present, both with an amazing attitude, always willing to innovate and go beyond the standard process. Sometimes we’re under a lot of stress when trying to close a deal, but they really put themselves forward to make it happen. Having someone like that by your side is invaluable.
If there was another company that did more or less the same thing, I have to say, even if they were less expensive, it would be hard to switch because of the team.
Roundtable: You mentioned that you evaluated some other providers before. Can you tell me what made Roundtable stand out in comparison to them?
Alessandro Santero: Initially I didn’t realize just how professional and strong the Roundtable team is – but that quickly became clear to me. And when I speak with people who work with other providers, I see a big difference.
Another aspect that immediately stood out was Roundtable’s ability to set up SPVs in Luxembourg through a fully digital and streamlined process. You were the first to offer this kind of solution in this location, and your pricing and speed of implementation stood out.
I’ve done classic SPVs in Luxembourg before, so I know the usual costs, timelines, and friction. With Roundtable, all of that disappeared, and I was impressed with their speed of execution.
Another important point was our regulator’s approval – I needed a clean, transparent structure. I know some other platforms operate through grey areas, which might not last if rules change. Here, that’s not the case.
And of course, having all our SPVs in Luxembourg is really important. It’s a mark of quality and reassures everyone.
Roundtable: Are there any other operational benefits you get from Roundtable?
Alessandro Santero: In terms of structuring, they handle most of it, which is a huge help to us. Overall, the platform is very easy to use. Investors can vote directly online, and all actions are automatically recorded, which I appreciate, as it makes the process much simpler.
Roundtable: Now that you mention the platform, what’s your experience with it?
Alessandro Santero: Very good. The user experience is great for investors; for most, it’s the first time they’re using the platform but I’ve only ever gotten positive feedback. Even those who aren’t very tech-savvy get direct support from Roundtable, or are guided through the process when needed. Overall, it’s easy and straightforward.
Roundtable: That’s great to hear. Shifting the focus a bit, how do you decide what deals to focus on and what to invest in?
Alessandro Santero: We only invest in what we consider exceptional deals – those that have something special about them.
Our investor base includes some very high-profile families who already have access to great opportunities. So, for us, an investment really has to tick all the boxes: disruptive technology, an amazing founding team – ideally repeat founders at the early stage, or founders with a proven track record at later stages – plus being surrounded by reputable investors.
Additionally, we focus on B2B and only invest in companies with a real path to profitability. I know a lot of investors say that, but for us, it’s non-negotiable. We do very thorough due diligence, and everything has to be very solid for us to make an investment.
Roundtable: Do you focus on specific industries?
Alessandro Santero: No, we’re industry-agnostic. We have a lot of sector experts around us, which allows us to do top to bottom due diligences, even on the technical side. This enables us to be confident about our investment choices. We don’t do an investment if we don’t have that expertise in-house or through our partners.
There are a few sectors that are outside our scope, such as biotech, for example, because it’s so specific and niche. Blockchain is another: we’ve looked at it, but decided not to invest, not because of the downturn but because it’s difficult to fully understand unless you’re very involved.
Otherwise, we focus on all the usual suspects: aerospace, AI, SaaS – we love SaaS businesses in all their verticals; it’s a great business model.
Roundtable: And what about your geographical scope?
Alessandro Santero: In terms of deal flow, it’s about 50% Europe, 50% US. We’ve done a deal in Latin America, and another in the UAE, both for very good companies. But overall, we focus mostly on Europe and the US.
Roundtable: And how about your investors? Can you tell me a bit more about the typical investor profile at Anyma Capital?
Alessandro Santero: The majority of our investors are Europeans: most are from Italy, Monaco, France, the UK, plus a few from Switzerland and Spain, and a few more in other locations.
In terms of investor profile, most are entrepreneurs or ex-entrepreneurs who have sold their companies. We also work with single and multi-family family offices.
Another group we work with is the second generation of HNW (high net worth) families: younger members who are more familiar with venture capital and now able to make their own investment decisions. They’re now starting to steer some of the family wealth into alternative assets, so we work closely with quite a few of them.
Roundtable: Do investors come to you, or do you do anything specific to promote Anyma Capital to them?
Alessandro Santero: We don’t promote much – it’s often word of mouth. We try to keep things exclusive because we’re building a real community around our investors. We don’t accept just anyone; money isn’t the only factor. We want people with backgrounds and experience who can bring real value to the community.
Roundtable: Do you do anything specific to develop the community?
Alessandro Santero: Yes, we do in-person events once per quarter. We bring together different people from our ecosystem, where we see that they can create value by meeting each other in person.
Roundtable: Are there any deals you’re particularly proud of, and that you’d like to share with us?
Alessandro Santero: We like all our deals and I’m proud of all of them. We’re quite hands-on post-investment and very present with the companies we invest in. Very often, founders become friends because we’re true partners.
Obviously, I’m proud of later-stage deals, because we got access and co-invested alongside top investors. But honestly, as a VC investor, I’m especially proud of the early-stage ones – the seed deals where we were the first investor that have proven to be really successful now.
Two such deals I’d like to mention are Papkot and Versori. We were among the first investors. Papkot just raised a Series A this year with an outstanding lead investor, which will energize the business like never before; we’re reinvesting there as well. Versori is similar: tremendous product growth and strong interest from buyers, just two and a half years after launch.
Roundtable: Okay, last two questions. First, do you have any advice for startup founders? You’re on the investor side and have a lot of visibility into what’s interesting right now and how to attract investment. What would you tell founders, based on that experience?
Alessandro Santero: Oh, I have a lot of advice! As far as the founder’s own journey is concerned, I’d give a classic piece of advice, but one that’s very true: never give up. Focus on perfect execution.
It’s the hardest job in the world, by far. It’s not for everyone, and that’s okay. If you’re not made for it, or you’re not ready to give it your all, maybe don’t do it. But if you believe in what you’re doing and you’re prepared to make sacrifices, then keep your focus.
Entrepreneurs have a lot of ideas and want to do everything at once, but that’s one of the quickest ways to fail. Focus is key, and it’s incredible when you get results.
Roundtable: And any advice for community leads or those looking to create and grow an investment community?
Alessandro Santero: I think the main thing is to be serious, truthful, and transparent. That’s what investors look for – and it’s actually rare in our industry, so it really makes a difference. Trust is the number one factor to your success.
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