Players Fund, a venture capital fund set up to help athletes invest in high growth consumer-oriented tech companies, sought to establish a series of Special Purpose Vehicles (“SPVs”) to facilitate investment prior to the launch of its fund.
Location
London, UK
No of deals
3
Use Case
Access Capital
Alignment Capital
Type of Fund
Venture Capital
Fund Manager
Players Fund
Date Completed
2024-
Challenge
Outcome
Mara's Solution
Testimonial
“We have worked with all the primary providers here for SPVs having either hosted or been a part of multiple SPVs on Odin, Vauban (Carta), Floww and Angelist and Mara is superior in our experience. One benefit of utilising Mara over other providers is their in-house regulatory permissions that allow them to arrange and market deals in the UK (on top of our own FCA permissions too). And finally, the customer service at Mara is second to none - Sasha takes a personal approach to our SPVs (we currently have 3 live with him) and can be reached at any time for international investors. A rare quality amongst providers.”
The Mara platform facilitated a smooth investor journey from sign-up through to investment, improving investor satisfaction and paving the way for a successful fund launch. Mara's expertise in handling complex investor profiles and providing regulatory guidance ensured that Players Fund was well-positioned to attract and manage investments from a diverse and high-profile investor base.
Players Fund faced several challenges:
Cost: a significant amount of the team’s personal capital was being invested into the fund, so keeping costs low was essential, in order to maintain the pre-fund investment program.
Flexibility: each deal had different terms, sometimes including a provision to “roll” into the main fund, so having the flexibility to facilitate this was essential, as was finding a provider that would be willing to adapt its approach for each deal.
Onboarding and Compliance: The onboarding process needed to satisfy the needs of a high-profile, time-poor investor base, without cutting any regulatory corners.
Mara provided a comprehensive solution that overcame each of these challenges. Initial consultations with Players Fund helped define the structure and scope of the SPV, ensuring it met both regulatory requirements and the team’s commercial strategy. Continuous support was provided to Players Fund’s investors, guiding them through the onboarding process and answering any questions. This was particularly relevant for U.S. investors, who were less familiar with European KYC regulations and also required considerable support with tax documentation. In addition, some of the deals were U.S. based, which presented tax challenges for non-U.S. investors but, again, Mara was able to provide appropriate support.
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