Overview & disclaimers
The opportunity
A generational shift in venture capital
Over the next decade, $1 trillion in new capital will flow into venture. But the industry that deploys it is broken.
The best-performing funds are the smallest – Fund I and Fund II managers who haven't yet been discovered by institutional capital. Academic research and proprietary Allocator One data confirm: the top 3% of emerging managers consistently outperform established mega-funds by 2–3x. Yet these managers remain invisible to most allocators. They're too small for pension funds. Too early for fund-of-funds. Too numerous to diligence at scale.
Meanwhile, the infrastructure supporting these managers is fragmented, expensive, and manual. A first-time GP spends 12–18 months and €200K+ just to get operational – before writing a single check. LPs have no visibility, no liquidity, and no leverage.
This is the gap Allocator One was built to close.
What makes this different
Allocator One is not a fund. It's not a fund-of-funds. It's a vertically integrated platform that combines:
- Proprietary Deal Flow – We see 80% of all new VC fund formations globally. 1,000+ GP applications per year. We've built the largest dataset on emerging manager performance, team composition, and portfolio outcomes in the market.
- Rigorous Selection – From 1,000+ funds reviewed annually, we back 15–20. That's the top 1.5%. Our selection engine combines quantitative screening with deep qualitative diligence – partner backgrounds, reference networks, portfolio construction, and return attribution.
- Full-Stack Infrastructure – Infra One, our wholly-owned administration platform, handles everything a GP needs: fund formation, compliance, capital calls, LP reporting, secondaries, and data. We compress 12 months of setup into 6 weeks. We give LPs real-time dashboards instead of quarterly PDFs.
- Compounding Flywheel – Every fund we back becomes a node in our network. We see their portfolios. We see their follow-ons. We see which companies are breaking out. This intelligence feeds back into our next fund selection, our co-investment pipeline, and our secondary opportunities.
No one else has this combination. Traditional fund-of-funds have selection but no infrastructure. Administrators have infrastructure but no investment capability. Single-manager LPs have concentration but no diversification. Allocator One is the only platform where selection, infrastructure, and intelligence compound together.
Why now
Three macro forces make this the right moment:
- The Emerging Manager Renaissance – Institutional LPs are waking up to the data: smaller funds outperform. But they can't access them directly. They need an aggregator with selection discipline and operational scale. That's us.
- The Infrastructure Gap – As fund formation explodes globally (3,000+ new VC funds launched in 2024 alone), the demand for institutional-grade infrastructure is outpacing supply. Infra One is positioned to capture this wave – not as a cost center, but as a profit center with recurring revenue.
- The Liquidity Revolution – Secondary markets for LP interests are maturing. Tokenization is coming. The funds that control the data layer and the transaction infrastructure will own the liquidity premium. Infra One is building that layer.
What you're actually buying
This is not a passive LP position. This is ownership across the entire value chain:
| Layer | What You Own | Why It Matters |
|---|---|---|
| Fund Selection Alpha | Exposure to the top 3% of emerging GPs via Leaders Fund and Fast Track | You capture the return premium from managers institutional capital can't reach |
| Direct Company Exposure | Co-investments into breakout portfolio companies via Opportunity Fund | You accelerate DPI by owning equity directly, not through two layers of carry |
| Infrastructure Revenue | Equity in Infra One, the platform powering 30+ funds and growing | You earn dividends from recurring admin fees – uncorrelated to fund performance |
| GP Economics | Equity in Allocator One Group (HoldCo), which owns all management companies and carry vehicles | You participate in management fees and carried interest across the entire fund suite |
This is full-stack venture exposure in a single commitment.
- 84.4% of your capital targets capital gains from fund and direct investments.
- 15.6% targets dividend yields from platform economics.
- You benefit if the funds perform. You benefit if the platform scales. You benefit if both happen.
The structural advantage
Many investors in venture pay twice: once to the fund-of-funds (1% + 10%), and again to the underlying GP (2% + 20%). That's 3% + 30% before you see a dollar of return.
Allocator One charges 2% + 20%. Once. No stacking.
On identical underlying performance, this structure delivers 56% more net return than a traditional fund-of-funds. That's not alpha from better picks – that's pure structural edge from eliminating fee drag.
The endgame
Allocator One is building the default infrastructure layer for emerging venture capital.
By 2030, we target:
- €1.6B in AuM across fund vehicles
- €6–10B in AuA via Infra One (including third-party managers)
- 500+ underlying fund relationships feeding our data and co-investment engine
- Global licensing (EU, Luxembourg, Singapore, US) enabling institutional LP access worldwide
The investors who participate now – at platform scale, with equity and infrastructure exposure – will own a piece of that future. Not as LPs in a single vintage. As partners in the platform itself.
Disclaimer and risk factors
This Private Placement Memorandum (PPM) is confidential and proprietary. It is intended solely for qualified investors who have been invited to review this opportunity. Unauthorized distribution is prohibited.
Investment risk
Investments in venture capital, private markets, and emerging fund managers carry substantial risk of loss. Past performance does not guarantee future results. There is no public market for these securities, and no secondary market is expected to develop. Investors should be prepared to lose their entire investment.
Accredited investor status
Only qualified investors as defined under applicable securities regulations (including but not limited to accredited investors under SEC Rule 501, Professional Investors under MiFID II, or equivalent under Austrian/German law) may participate.
No registration
These securities are not registered under any securities laws and may not be resold, pledged, or transferred without registration or an exemption.