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LeFonds by FrenchFounders
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Subscription Amount
$5,000+ Quarterly
Subscription Period
4 Quarters
Management Fee
0.85% per year over 10 years
Carry
10%
Admin Fee (annualized)
$2.5k + 0.2% of contributed capital
Invest Account
Select invest account
Note from LeFonds
Success going global lies in a calculated Scale-Up plan sharply executed.
Money is not enough; entrepreneurs also need the support of a trusted, professional network; this is why we are creating LeFonds by FrenchFounders.
LeFonds by FrenchFounders is an early-stage investor for Tech companies going global.
We are a first-stage venture partner focused on investing in people who create solutions or products that sustainably satisfy identified & actionable market needs.
LeFonds by FrenchFounders is a catalyst for Startups with French-speaking co-founders who have global ambition.
- We invest in supporting growth and scale at the pivotal internationalization moment.
- A unique positioning filling a combined network & operation gap when going global.
- Cross-border experience to support portfolio companies.
- Sector Agnostic investments: a diversified investment strategy B2B and B2C cross sectors in private technology companies.
- Within FrenchFounders Inc., we leverage the fantastic network of 4'000+ members, 250+ Investors worldwide for deal flow and portfolio support with a post fundraising program.
Geraldine LeMeur pilots this fund, together with Vincent Deruelle and Benoit Buridant. LeFonds is also creating an Investment Advisory Committee to support the investment decisions.
DEAL SOURCING
On top of the team being very active in identifying any opportunity; our multi-country positioning puts LeFonds in a very favorable position to generate deal flow with four streams:
- The Investors Club within FrenchFounders Inc. who has already co-invested on a deal by deal basis alongside several VCs.
- The motivation and the reach of FF Members.
- Geraldine Le Meur has built a robust Silicon Valley and European network with 20+ years of experience in the tech ecosystem.
- Peer-to-peer deal intro, the nicest deals often come from entrepreneurs who recommend you to others.
KEY INVESTMENT CRITERIA
- One lead investor, LeFonds, co-invest alongside other VC's
- Sector agnostic, early-stage: Seed to Series A
- Check thresholds: $200k up to $1M
- Round Range: $800k up to $8M
- Markets: Mainly US, France, Canada, Europe (UK, Belgium, Spain, Switzerland). Possible Extension to Singapore, Hong Kong, China, Japan.
STRUCTURE
AngelList creates a series of quarterly funds underneath for each investment and then does the calculations to cross the carry-on top to create a single "virtual fund."
This open-ended venture capital fund allows us to begin investing immediately, then scale up over time while allowing LPs to invest on a quarterly subscription basis requiring less of an upfront commitment and the option to opt-in or out any time.
We require a minimum 1-year commitment (4 quarters) with a minimum investment of $20,000 per year. You can raise or lower your subscribed capital every year depending on your confidence and desired risk exposure.
Investment Details
Subscription Start Date
April 1, 2024
Minimum Quarterly Subscription
$5,000
Minimum Subscription Period
4 Quarters
Management Fee
Investors pay management fees of 0.85% per year for the first 10 years.
Management fees are taken as a percentage of the total committed capital. The total management fee is paid out quarterly over the first
four years of the fund's life.
Carry
Ten percent (10%)
Admin Fee (annualized)
$2.5k + 0.2% of contributed capital
Fees for each quarterly fund in the Rolling Fund Program will vary based on each quarterly fund’s capital contributions since the fee includes a flat fee component. Last quarter, this fund closed $481.46k in capital. Learn more about how to estimate your commitment’s fees at our help center.
GP Commitment
LeFonds' personal subscription per quarter will be at least $1,000 in total.
Special Disclosure
Geraldine LeMeur also manages The Refiner's Fund. The investment period of The Refiner's Fund has ended and, as such, it is not expected to conflict with Geraldine's management of LeFonds by FrenchFounders Rolling Fund.
Investor FAQ
How is this program different from venture fund investing?
How do subscriptions work?
How do management and admin fees work?
How does carried interest work?
How do distributions work?
Will a Limited Partner (LP) participate in all investments made by the funds offered through this Program?
Will an LP's percentage ownership of quarterly funds always be the same?
Are LPs guaranteed access to LeFonds by FrenchFounders' future funds?
How are subscriptions funded?
How does changing or canceling a subscription work?
Who manages these funds?
Do funds in this Program have minimum or maximum investment sizes?
What happens if funds in this Program do not invest their total capital each quarter?
When will LPs learn about companies the funds invested in?
Can LPs opt out of specific deals?
Can LPs sell their investment in the fund?
Can LPs redeem their interests in the fund?
When will funds launched under this Program begin deploying capital?
How do I receive tax documents from this Program?
Unanswered questions? Contact AngelList
The performance of past deals or a lead investors' track record is not a guarantee of future returns. Venture capital fund investments are inherently risky and illiquid. Such investments involve a high degree of risk and are suitable only for sophisticated and accredited investors.
AngelList and its affiliates do not provide investment advice to investors. The information on this page should not be relied upon as research, investment advice or a recommendation of any kind. Information on this page is qualified in its entirety by the fund's Limited Partnership Agreement, Private Placement Memorandum and Subscription Agreement, which should be reviewed carefully prior to making an investment decision. Please see these documents for full details regarding risks, minimum investment, fees and expenses. The fund lead and the fund's investment advisor have the right to waive or charge additional carry to certain investors. The fund's legal name may be different from the name used above.
This fund may accept new investors after the fund undergoes a valuation update. Certain potential investors in the fund may then have access to materially different information concerning fund value at the time of their investment.
Current or future portfolio companies in this fund may use AngelList's recruiting platform and may pay an affiliate of the fund's investment adviser for premium recruiting tools and services. This may create a potential conflict of interest for the investment adviser, which you will consent to by subscribing to the fund.
Please read the disclosures in full here.
Apply To Subscribe
Subscription Amount
$5,000+ Quarterly
Subscription Period
4 Quarters
Management Fee
0.85% per year over 10 years
Carry
10%
Admin Fee (annualized)
$2.5k + 0.2% of contributed capital
Invest Account
Select invest account