OneRagtime ranked "Excellent" in the 2026 Leaders League VC ranking
OneRagtime ranked "Excellent" in the 2026 Leaders League venture capital ranking
Décideurs | Leaders League has ranked OneRagtime "Excellent" in its 2026 mapping of French venture capital firms.
The ranking weighs three things: track record, deal quality, and the depth of support a firm gives its companies. That is a fair test, and a good excuse to say plainly what sits behind each one. It's also a nice moment for a team that has been building this model since 2017.
We come in first, and we stay at the table
Almost everything that distinguishes us follows from one position: we are the first institutional investor on the cap table, right after the friends and family round.
We take a board seat at seed, before any formal governance is in place, and we hold it. That means we are in the room for the decisions that are genuinely irreversible: the first ten hires, the equity split, the market to attack first, whether to raise again.
Funds arriving at Series A inherit those decisions. We help make them.
This is also the hardest place to underwrite. Judgement at that stage comes from having done it repeatedly since 2017, from a community of more than 500 investors and entrepreneurs who have built in these categories themselves, and from our proprietary stack (Platform, Core and Core Intelligence) which industrialises sourcing and monitoring so we can hold real board-level depth across more than 50 companies.
What the board seat actually buys
The useful question for any fund calling itself hands-on is whether its founders can name what it did. Three examples from the current portfolio.
Ekie. We supported a rebalancing of the cap table in favour of the three operational founders, through a transfer of shares from the historical founders. That is the kind of surgery only a board member with standing can lead, and it is close to impossible to unwind later. We then worked on structuring growth, the business model, and go-to-market through customer and partner introductions.
Policloud. We helped the team identify and secure non-dilutive financing, so growth came without unnecessary dilution, and we promoted their solution directly to the public-sector players in their ICP, which converted into new strategic contracts. Policloud is now one of the three companies inside Antimatter, which has $1.1bn in signed contracts.
Monde Singulier. We worked with the founders on capital efficiency, putting in place a tighter reporting rhythm and clear spending priorities, then supported the fundraise that extended their runway. This is the part of the job that rarely makes it into a portfolio page.
Structuring the rounds that follow
The other half of the job is making sure the next round, if there is one, happens on good terms. We help our companies build the equity story, identify the right investors and partners for each stage, and prepare the round properly rather than reactively. We invest as lead with initial tickets of €1M to €5M and can follow through our funds and pro-ratas from €5M to €15M, so our support is backed by capital rather than advice alone.
The same discipline applies at the end. We run a dedicated exit and M&A taskforce that identifies strategic buyers and prepares structured data rooms well ahead of a process, working alongside trusted partners. Sonio is the clearest illustration: we backed the company, supported its US expansion and commercialisation through our partner network, and played a direct role in its acquisition by Samsung in 2024, two years after our first investment.
The numbers
More than 50 companies backed since 2017
2.4x TVPI: 1 euro invested is worth 2.4 euros today
26% gross IRR
0.42x DPI across all vintages, and 1.0x on the 2017 to 2020 vintages, meaning capital fully returned
only 13% loss, in comparison to 50% for the industry standard
(Performance figures are based on internal calculations as of 30 April 2026.)
Thank you to Décideurs | Leaders League for the work they put into mapping this ecosystem, and to the founders who let us in at the start.
If you want to see how we invest alongside our community, write to us at investors@oneragtime.com.
Read the full ranking here : https://www.leadersleague.com/fr/classements/capital-investissement-operations-de-capital-risque-fonds-d-investissement-france-2026
OneRagtime is a portfolio management company authorised by the AMF under number GP202219.
Past performance is no guarantee of future performance. Investments in unlisted companies involve a high degree of risk, including total loss of the investment.
