The relationship between the AQVC Fund of Funds and the AQVC Discovery Platform is that of an independent user and a service provider. The AQVC Fund of Funds is an independent investment firm that leverages the AQVC Discovery Platform to digitize its fund screening and review processes as an LP (Limited Partner). The Discovery Platform, which supports LPs and VC funds in the capital formation process, remains a separate entity. While both operate independently, the AQVC Fund of Funds uses the platform to enhance its investment decision-making process.

You will receive feedback on our “pre-screening” within 5 working days after submitting your fund profile link to our team. In very rare cases, this may take longer. We highly value active communication and a sense of urgency, so please feel free to reach out and ask for an update after 5 working days.

Our decision process involves two key steps:

- Pre-Screening: We first determine if your fund aligns with our portfolio construction strategy based on factors such as "Sector focus," "Geography focus," "Stage focus," "Fund maturity," and "Type of investments."

- Evaluation Criteria: We then compare your fund against various evaluation criteria, including "Track record," "Strategy & future performance indicators," "Team," "Risks," and "Process, governance, and others." While we assess up to 60 core criteria, our focus during pre-screening is on the most relevant ones.

In the pre-screening phase, we emphasize:

- Fit with our portfolio strategy
- Track record performance, with a high focus on DPI
- Graduation rates & quality of graduations in your track record
- Understanding of startup risk factors and mitigation strategies
- Craftsmanship in deal-making
- Professionalism in investor relations and fundraising
- Reputation of the team and fund

The weighting of these criteria may vary depending on whether your fund is emerging or established

- We invest exclusively in VC funds, not in start-ups (directs).
- We participate in secondaries and primaries in VC funds.
- Our allocation is approximately 60% to Europe, 30% to the US, and 10% to the rest of the world.
- We focus on early-stage funds but also invest in later-stage funds.
- Our investments are roughly equally split between emerging and established funds.
- Our ticket size range is between 200k-5m€

The investment process at AQVC is structured into several key steps:

1. Pre-Screening Result: After submitting your fund profile, you will receive a clear response within 5 working days, indicating either a yes (we are interested and want to schedule a call) or a no (we are not interested at this time). If we do not see a fit at this point, we encourage you to stay in touch and update us on your progress.

2. Pre-Screening Call: If we decide to proceed, we will schedule a structured Pre-Screening Call. Following this, we will create an investment target profile, which will be reviewed in our weekly deal flow meetings.

3. Due Diligence (Deep-Screening): Upon a positive outcome from the Pre-Screening Call, we will conduct a thorough due diligence process (deep-screening) and prepare a pre-investment memo. This memo will be discussed during our monthly deal selection meeting. Typically, around 25% of deals that reach this stage convert to the next phase, and this process usually takes 4–6 weeks.

4. Final Investment Committee (IC): If the deal continues to show promise, we will carry out a final round of due diligence and prepare an investment memo for presentation to our Investment Committee (IC). Generally, 90% of deals that reach this stage are approved, and this final stage typically takes an additional 2–4 weeks.

Absolutely! If we decide not to invest, you can still rely on our support as we will provide feedback and suggestions for improvement. Additionally, the AQVC Discovery unit offers technology and services to assist funds in the capital formation process with LPs. We encourage you to schedule a call to learn more about how these resources can help you even if we do not invest directly.