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Flexible SPVs for fund managers
Engage LPs through co-investment, exercise prorata rights, and offer out-of-thesis opportunities with compliant vehicles built for professional funds.
Expand your LP base and increase fund loyalty
Accept smaller LP checks through feeder vehicles and aggregate them into clean tickets. Keep strategic deals in-house instead of referring them out.
Lower your minimum commitment to attract more LPs
Accept smaller checks (€250K-€1M) through feeder vehicles
Aggregate smaller LPs into one clean ticket to meet fund minimums without exclusion
Stay flexible with out-of-thesis investments
Create SPVs for follow-on rounds and opportunities outside your fund mandate
Maintain LP loyalty by offering participation in deals that don't fit your main thesis
Keep great opportunities in-house instead of referring them to competitors
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Aggregate capital efficiently
Enable key LPs to activate their networks, expanding your fundraising reach without extra effort
Lower entry barriers with feeder SPVs—accept sub-€1M checks and aggregate them into one ticket
Simplify subscriptions, transfers, and compliance through digital workflows
Launch SPVs in 1 week vs 1 month
Launch co-investment SPVs in <1 week. Invite LPs via secure links and track commitments in real-time while maintaining full control.
Create your private deal page
Launch co-investment SPVs alongside your fund in <1 week
Invite LPs to specific deals via secure digital links—track commitments in real-time
Strengthen fund-LP alignment by giving direct exposure to your best opportunities
Invite and manage investors
Exercise prorata rights from portfolio companies through dedicated SPVs
Offer follow-on participation to LPs when opportunities don't fit your main fund thesis
Keep strategic deals in-house instead of losing them to competitors
Close your fundraising
Aggregate sub-€1M commitments into a single feeder vehicle that meets fund minimums
Onboard and manage smaller LPs digitally—no manual subscription or compliance work
Present one clean ticket to your fund while maintaining individual LP visibility
3 steps to launch a co-investment
Launch your SPV in <1 week with automated KYC, digital signatures, and compliance built in.
Set up your vehicle
Define terms and structure online
Invite your LPs
Share digital onboarding and subscription links
Close and manage
Collect commitments and monitor allocations
Cheaper and faster than doing it yourself
One-time fee of 1.5% (min €10K) includes 10 years of administration. Launch in <1 week vs. 1+ month.
By yourself
SPV set up & mgmt fees
(10 years)
One off cost of 1.5% of the amount raised in the SPV (min €10k)* - only invoiced at SPV closing
*Excluding taxes
Starting at €20k
Time to set up**
1 week
1+ month(s)
Partial exit / Secondary sale
1% of the secondary transaction*
*min 1k€/max €5k per investor
*Excluding taxes
Not available
Raising in other currency
(even if you raise in Euros, you can invest in 40+ currencies for free)
€1k*
*Only available for Luxembourg SPVs
*Excluding taxes
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Common Questions
Everything you need to know about investing through Roundtable.
By using a founder SPV, you can:
- keep a clean cap table,
- simplify governance,
- reduce costs related to cap table software and operations, including legal fees for future fundraising,
- leverage more operator investors to collect even small checks from high-value individuals.
- Direct-like investment: in case of a purchase offer, each investor can sell as many shares as they want - investors are no longer locked into an SPV!
- Increased liquidity (subject to founder approval):
- Within the SPV
- Outside the SPV
- Reduced administrative burden: investors can focus on supporting founders while making cap table management easier for the founding team.
- Helps you maintain a clean cap table and gain stronger bargaining power with VC funds in later funding rounds.
- Smaller ticket size: investors can access deals even with smaller ticket sizes.
In most cases, the SPV set up with Roundtable can accept US investors.
Limits
While Roundtable may onboard US investors (provided that no marketing actions have been undertaken in the US), there are certain limits.
All investors (including US investors) are encouraged to seek tax advice before making any investment.
PFIC
In certain circumstances, investing in a non-US SPV may represent a significant tax or administrative burden. Indeed, such SPV could qualify as a Passive Foreign Investment Company (”PFIC”) under US tax law. US investors who are shareholders of a PFIC are generally required to file a US Form 8621 for each tax year. This is the sole responsibility of the investor.
In addition, US law provides for deterrent tax treatments when investments are made through a PFIC, which can potentially diminish the investor's return. Certain elections (e.g. Qualifying Electing Fund) can be made by the investor, but Roundtable is not able to assist with this.
Luckily, we understand that our Luxembourg SPV and some of our French SPVs (société civile) are likely to be treated as partnerships in the US (although no check-the-box election will be made), and the PFIC issue should thus not materialize.
As always, you should consult your tax advisor prior to making an investment in a non-US SPV. For more information, you may consult the following resources:
- What is a Passive Foreing Investment Company ("PFIC")?
- Investing in Foreign Startups? How to Avoid Unfavorable PFIC Consequences and Improve Returns
In most cases, the SPV set up with Roundtable can accept US investors.
Limits
While Roundtable may onboard US investors (provided that no marketing action have been undertaken in the US), there are certain limits:
However, all investors (including US investors) are encouraged to seek their own tax advice before making any investment.
PFIC
In certain circumstances, investing in a non-US SPV may represent a significant tax or administrative burden. Indeed, such SPV could qualify as a Passive Foreign Investment Company (”PFIC”) under US tax law. US investors who are shareholders of a PFIC are generally required to file US Form 8621 for each tax year. This is the sole responsibility of the investor.
In addition, US law provides for deterrent tax treatments when investments are made through a PFIC, which can potentially diminish your return. Certain elections (e.g. Qualifying Electing Fund) can be made by the investor, but Roundtable is not able to assist with this.
Luckily, we understand that our Luxembourg SPV and some of our French SPVs (société civile) are likely to be treated as partnerships in the US (although no check--the-box election will be made), and the PFIC issue should thus not materialize.
As always, you should consult your tax advisor prior to making an investment in a non-US SPV. For more information, you may consult the following resources:
Have more questions?
Ready to engage your LPs beyond the fund?
Book a demo and discover how Roundtable supports fund managers.