What is OneRagtime?
OneRagtime is a venture capital fund-as-a platform. We back exceptional European entrepreneurs with our curated community of +250 investors (high net worth, family offices, institutionnals and corporates).
More than just funding, we provide smart acceleration to our portfolio companies thanks to our amazing community of investors and entrepreneurs providing at scale business developments contacts, experience and operational resources. Our portfolio companies get all the benefits of our exclusive community while only having OneRagtime at their cap table as investors are pulled in a single SPV for those choosing the club deal model and we also co-invest with our funds (Rhapsody, Paragon and Aria).
OneRagtime [Rhapsody II/Paragon] FPCI, AIF declared under French law and managed by OneRagtime SAS (827 695 453 RCS Paris), management company approved by the French financial Markets Authority under the number GP202219.
We work like a traditional fund with upfront fees, management fees, and performance fees on investments. There are no costs or fees for the start-ups.
Our platform enables us to fully digitise all the investment process and support for our startups. This is where start-ups apply to receive funding, contacts, and operational resources. Our investors apply on the platform to join our community and, once accepted, invest in our proposed investment opportunities or funds. We take care of the entire process – from market analysis, due diligence, and terms negotiation as well as supporting the start-ups after the investment. Our platform can be accessed through our website or mobile application by clicking on join or log in.
Our community is what truly matters to us. This is the support system we are nurturing to help entrepreneurs in their journey to success. Our community of +250 investors and partners is a key pillar of our model. They are former executives, entrepreneurs, corporates bringing strong value with their experience, network... We provide operational resources and access to key experts. We also help and advise on business development, governance, strategy, operations, and exit.
When applying to OneRagtime, we submit a Know Your Customer (KYC) process to check all investors' information. Once received, our investor relations team validates your acceptance in the community. We expect our investors to be aligned with our values: trust, excellence, collective intelligence, passion, and resilience.
We are looking for exceptional and experienced entrepreneurs, European-based with a strong international DNA.
We invest in:
1) Consumer and prosumer platforms (gaming and social, marketplaces, creator economy, fintech)
2) AI, cloud, and cybersecurity (AI, SaaS, blockchains, data, cloud security, and privacy, DevOps tools
3) Tech for values (health, climate, impact, edtech)
We like to be the first professional investor, investing between €700k to €5m tickets, with a follow-on strategy of our seed investments via pro-ratas. With our new Paragon fund, we will be able to write follow on investments from €5m to €15m.
There are 2 different ways to invest with OneRagtime:
1) Club deal: Deal-by-deal construction
Invest on a deal-by-deal basis into a dedicated vehicle with total freedom, from seed to Series B - with a €30k minimum ticket. You have to be member of our community with an annual fee of €1k per year to access to the club deal opportunities.
2) Through our funds :
OneRagtime Rhapsody II - Early-stage fund
Invest with a one-time investment in our early-stage fund, composed of 15-25 start-ups from seed to Series B - with a €200k minimum ticket.
OneRagtime Paragon - Growth / opportunity fund
Invest with a one-time investment in our growth and opportunity fund, composed of 20-30 start-ups from Series B to Series C+ - with a €500k minimum ticket. When you invest in our funds, you are de facto member of our investor community and have access also to our club deal opportunities.
1) Prospective investors can apply on our platform to join our investor community.
2) If they meet our community criteria and become community members, they will get privileged access to our platform, where exceptional investment opportunities are launched and are able to invest seamlessly.
3) Our process is fully digitalised, from filling in their KYC (Know Your Customer) to signing all documents electronically. The platform allows them to keep their portfolio documentation in one place and follow the reporting of their investments.
4) We take care of all the start-up sourcing and analysis, and complete due diligences in all areas including business, technology, legal and human. Then we negotiate all the terms such as ratchet warrants, right of first refusal, call options (leavers), company board seat and observer seat, veto right on key decisions, proportional and full tag along rights, representations and warranties benefit, and pari passu (which are normally inaccessible to individual investors).
5) Once investors have committed an amount to invest, we pool them with the OneRagtime vehicle behind a common special purpose vehicle (SPV). The vehicle is created in France.
6) We match investors and start-ups with common interests and complementary skills and connections. Our aim is to foster a supportive community; thus, we encourage exchange between our start-ups and investors.
7) We continue to support the start-up beyond the fundraising process, offering business development, operational support, connections, and the potential for follow-on rounds in order to propel them to success.
1) Start-ups apply on the platform to access exceptional investment opportunities. Our Venture Team will review your application and get back to you quickly.
2) Meet the OneRagtime team. This will be our first chance to get to know each other. The conversation is always friendly, but expect our venture team to challenge you with questions about your team, product, technology, business model, and market.
3) If it seems like a good fit across interest and investment theses, our venture team will start due diligence by diving into all aspects of your company.
4) We work closely with thought leaders and experts in our network to evaluate all of the companies we meet with. If we want to learn more, you’ll be asked to pitch to a larger group of stakeholders at OneRagtime.
5) If we like what we see – and the reality is that we say no much more often than we say yes – we commit and sign the term sheet.
6) Leveraging both our community and dedicated funds, we ensure each startup is backed by the right investors to maximize growth potential. Investors review the opportunities and commit funds on our platform.
7) You’ll receive funding from our curated community of 250+ qualified investors.
We charge small fees to cover our activity and all of the extensive due diligence, legal and analytical work. However, we don’t charge the start-ups that we present on our platform. Contact us to have more details about the fee structure.
Yes! Most of our start-ups are eligible for reinvestment of capital (Remploi 150-0 B ter), contact us to find out more.
We are proactive in sourcing start-ups, using a mix of traditional and innovative strategies. We receive applications via our platform for the analysis, and recommendations from our community (investors, entrepreneurs, and more) for start-ups we should check out.
We have also fostered close partnerships with tech programs, accelerators, and communities to stay updated on exciting new projects. Finally, we are proactive in networking, setting up meetings, and traveling across Europe to search for the best entrepreneurs.
We receive and review over 4,000 companies per year to present our investors only the top 10 (less than 1%). We look first and foremost at the team – exceptional entrepreneurs that we trust and share the same values.
We then perform extensive internal and external business, technological, financial, legal/IP, and HR due diligence on every start-up that we finance. To do this, we leverage our team, investors and entrepreneurs, and our community of experts. Finally, OneRagtime's internal tech team enables us to perform our own technological due diligence.
With our platform, our investors track and follow their investments, and receive reports on their start-ups every quarter. We also organise quarterly events with our start-ups and entrepreneurs.
When investors decide to invest in a start-up, we pool their funds with other investors’ funds in a dedicated investment vehicle. This way, they don’t technically invest directly in the start-up, we do it for them. We use SPVs to avoid having a crowded cap table, as well as to acquire a significant stake in the capital of the portfolio company which is useful for voting rights and for tax purposes. We finally enable investors to benefit from our negotiated legal terms.
Our main objective is to empower exceptional entrepreneurs to succeed, and we know that matching them with the best investors is salient. We thus encourage our investors to mentor and support the start-up they invest in (though not compulsory). Our investors can be involved as much or as little as they want.
Once investors commit, they are involved until the exit. They are making returns on investment with the following events: a merger or an acquisition, the buy-out of shares in the following round, an IPO, or an insolvency proceeding. Investing in start-ups is a risky business and returns are long-term or non-existing. Nevertheless, we try to favour exits in a 4 to 5-year timeframe.
No, we negotiate our term sheets before making them available for investment on our platform. However, we make sure to negotiate our terms to make them the most favorable to both start-ups and investors.
We ask our community members to not seek private investment opportunities with our start-ups. Bypassing OneRagtime and trying to invest directly in a start-up would result in the investor’s eviction from the platform and community.