Co-investor FAQ

  • Raspberry is a group of individuals co-investing in ClimateTech and AI startups. The investment vehicle, Raspberry Ventures Ltd., is a UK based company.

    The syndicate is led by Alex Farcet, the co-founder of Startupbootcamp and Rainmaking, and an active angel investor.

    Raspberry uses the Odin platform to aggregate individual co-investments. Odin manages the SPV, financial reporting, regulatory compliance and sophisticated investor checks.

  • Raspberry uses the Odin platform to manage the UK based SPV which invests in each startup. Co-investors have to complete a KYC (know-your-customer) check and demonstrate they are sophisticated investors.

  • You can invest via your company or as an individual. In either case, you’ll have to complete the Odin on-boarding process.

  • Individual investments range from €5k / €25k and have reached much bigger sums.

  • Once you’ve joined the Raspberry syndicate, you’ll receive co-investment opportunities.

    In additional to the deal email description, you’ll be pointed to the Odin deal page where you can consult the Investment Memo, the investment documents and the syndicate agreement and terms.

    If and when you decide to co-invest, the process is a few clicks (once you’ve completed the Odin on-boarding process).

  • We’re about on a monthly pace, but that changes based on opportunities.

    Investors don’t commit any funds upfront and decide on a case-by-case basis.

  • Our primary focus has been ClimateTech (essentially: startups reducing emissions, which includes carbon capture, food, transportation, energy).

    We’ve recently opportunistically co-invested in B2B AI startups focused on real world enterprise problems.

    And we’ve supported platforms which enable the deployment of capital to solve big challenges, including Odin (which we use for the syndicate, and Tokenize.it which greatly angel investing in Germany and soon other countries).

  • We use the Odin platform to manage the investment process and company. Odin uses the well established ‘Bare trust’ structure.

    Individual co-investments are aggregated into one investment in the startup by Raspberry Ventures Ltd.

    Co-investors receive beneficial ownership on a pro-rata of their investment. (Consult the Odin FAQ, linked below, for more details.)

  • Raspberry is not a fund so there are no recurring annual management fees.

    A one-off fee (typically 6%) is applied on top of each investment - so a €5k investment costs €5.3k.

    We apply a ‘carry’ (profit share in case of exit) of 20% which kicks up to 30% once you are past 3X your initial co-investment.

  • Co-investors are forwarded investor updates as they come in from startups they’ve invested in.

    Raspberry is not a fund and doesn’t report on a ‘portfolio’ since each co-investor makes their own case-by-case decision.

Consult the Odin investor FAQ.

Founder FAQ

  • Raspberry is a group of individuals co-investing in ClimateTech and AI startups. The investment vehicle, Raspberry Ventures Ltd., is a UK based company.

    We aggregate individual checks into one investment from Raspberry, thereby only adding one line to the cap table, and one contact for governance (signatures, votes, etc.).

  • Raspberry invests in ClimateTech and AI startups, typically at ‘seed’ stage, and only in VC led deals.

    We cover Europe and opportunistically, the US and Africa. LatAm, Asia and the rest of the world are out of scope.

  • Raspberry only co-invests in VC led rounds. It’s part of our process to connect with the lead investors so that we know our co-investors.

  • Raspberry’s allocations have ranged from €50k to €650k.

    Individual investments range from €5k / €25k and have reached much bigger sums.

  • The process is typically as follows:
    - Intro call(s) with the founders.
    - Reference call(s) with lead investor
    - Light due diligence
    - Decision to present to the syndicate
    - Deal intro email shared with syndicate, along with video recording
    - Live Q/A with founder(s)
    - Creation and maintenance of investor deal FAQ.
    - Management of inbound investment commitments and actual transfers.
    - Aggregation and deal closing.

  • From deal presentation to the syndicate to money in the bank typically takes 4 weeks.

    Prior to that, from first contact to decision to co-invest will range widely depending on the source of the deal, and the stage of fundraising.

  • Once the decision to co-invest is made, the total time required from founders is typically less than a day.

    We record a video to present the team and the deal. We then co-host and live Q&A and create and manage an FAQ together.

    The syndicate does all the heavy lifting to chase individual leads, handle questions (when possible) and collect and aggregate funds.

  • Raspberry doesn’t charge anything to the founders, other than covering the basic Odin platform fee, which is capped. (More details available if and when we engage).