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Business overview

A. The opportunity​

The global venture capital market is experiencing structural fragmentation. While $1 trillion in new capital will flow into venture over the coming decade, institutional investors lack efficient access to smaller, emerging managers who historically deliver 2–3x higher net returns than mega-funds.

Traditional fund-of-funds charge stacked fees (3% + 30%) that destroy net returns. Solo GP access is time-prohibitive and operationally complex. Emerging managers lack institutional-grade infrastructure, forcing 12–18 months and €200K+ in setup costs before deploying capital.

Allocator One solves all three problems simultaneously.

B. The platform​

Allocator One operates as a vertically integrated platform combining:

  1. Proprietary manager sourcing: Sees 80% of all new VC fund formations globally (1,000+ annual applications)
  2. Rigorous selection: Backs top 1.5% of funds reviewed (15–20 per year) based on quantitative + qualitative diligence
  3. Full-stack infrastructure: Infra One platform compresses 12-month fund setup into 6 weeks
  4. Intelligence flywheel: Every backed fund feeds data back into manager selection, co-investment identification, and secondary opportunities

C. The market context​

Private markets growth:

  • Global private markets AUM projected to reach $60–65T by 2032 (Bain & Company 2025)
  • VC AUM in North America alone to grow 38% to $1.81T by 2029 (Fortune/PitchBook 2025)
  • Tokenization of private funds expected to reach $715B by 2030 (PwC 2025)

Emerging manager outperformance:

  • Funds <$150M outperformed larger funds in 19 of 30 vintages (1981–2010) (Cambridge Associates)
  • 25% of funds <$350M achieved ≥2.5x TVPI vs. 17% of funds >$750M (PitchBook/Santé Ventures)
  • Smaller funds generated 17.4% net IRR vs. 9.7% for larger funds
  • Mega-funds (>$500M) returned <2x net to LPs (Kauffman Foundation)

Infrastructure demand:

  • 538 new US VC funds in 2024 (NVCA/PitchBook)
  • ~1,300 net new VC firms per year globally (Carried AI)
  • 850 emerging managers in 2024 alone (VC Lab – estimated 50% of global new firms)