A future-focused investment network

Aperture Capital SA is not a venture capital fund or fund-of-funds platform. It is itself an investor in early-stage companies, which chooses to syndicate some of its allocations to a small network of additional investors.  Aperture Capital SA is a wholly owned subsidiary of Aperture SA.  Find out more here.

A syndicate is simply a way for investors to pool resources, giving access to deals that might otherwise be inaccessible to smaller investors. For each investment opportunity, Aperture Capital sets up a syndicate which is usually in the form of a simple partnership governed by a partnership agreement (Terms of Syndicate), or in the form of a trust arrangement where a nominee entity acts as a trustee and is governed by a trust agreement (Syndicate Trust Agreement). These legal agreements set out the rules amongst Aperture Capital (the Deal Manager / Lead Investor), the trustee (where applicable) and other investors, including fees.  Typically, Aperture Capital or the trust will acquire and hold the stake in the target company in its name and investors will share in the economic interest, including the profit or loss when the stake is sold.  The syndicate is administered by a third party that provides easy online access to documentation and conducts compliance checks on all investors.

Syndicates allow private/individual investors to access the opportunities in private markets and construct their own diversified portfolios.  While a typical VC fund might have a minimum investment of $250,000, syndicates may have tickets sizes of $15-20k, allowing investors to gradually build a portfolio with a much smaller initial outlay. Syndicates also typically have lower fees, as there is no formal fund or corporate structure to administer.

Aperture’s model is unique as Aperture SA has typically worked with and inside target companies, providing marketing and strategy expertise while performing “inside out” due diligence. As a result, Aperture has unparalleled insights into the company’s potential and may also have exclusive or preferential access to capital raises.

Aperture Capital typically invests in early-stage private companies via small equity stakes or convertible shares.

Investors should be prepared to hold their investment until there is an “exit event” like a refinancing round, trade sale or IPO. At this point, the decision to sell may be made by all investors in the syndicate (full exit) or by individual members (partial exit).  Depending on the terms of the specific partnership or trust agreement, it may also be possible to sell or transfer your share to another investor.

Investing in early-stage companies generally involves a high degree of risk. You may not get back the amount you invested and may not be able to exit the investment at a time of your choosing.  You should consult an independent adviser and refer to the risk factors in the documentation for each deal.

Our network of investors is small and we like to know everyone.  If you are interested in applying, please fill in the form and we will get in touch. It may help to speed up the process if you include the name of a referee or introducer  – perhaps someone who is already part of our network or is otherwise known to Aperture.