Fund 3 · Now raising
US$1
from you
US$2
of Arcanys execution
US$3
at work in every company

Every LP dollar deploys with two dollars of Arcanys execution.

A US$5M fund paired with around US$10M of work from the 350+ person software company we built ourselves. We invest in software and connected-hardware companies, Seed to Series A, in Europe and Australia.

35
companies backed since 2020
US$15M
of our own capital and execution invested
90%
still in business after four years
80%
raised a follow-on round from outside investors
1
exit so far, Register Now to ASICS in 2021

Why the fund exists

Startups don’t die from lack of money. They die in the gap between funding and execution.

76%
of venture-backed startup spend goes to payroll
774 days
between rounds, 84% longer than three years earlier
15%
of seed companies reach Series A within two years
Every seed fund holds this risk. Almost none manages it. We invest in the gap.

Sources: Kruze Consulting, analysis of US$900M+ of venture-backed startup spending. Carta, Q4 2024. Carta, two-year graduation window, 2022 to 2023 seed cohorts.

Built on Arcanys

No outside capital. No acquisitions. Profitable every year for 10+ years.

350+
engineers, product specialists and fractional leaders
US$14M+
annual recurring revenue, independent of the fund
200+
companies served since 2010
~3%
annual attrition
<1%
of applicants hired
88
client NPS, against an industry average of about 39
Great Place To Work, Best Workplaces in Technology, Southeast Asia 2026. Ranked #1 medium category, and #79 Best Workplaces in Asia 2026Reviewed on Clutch, 5.0 out of 5 across 33 reviewsGlassdoor, Arcanys rated 4.8 out of 5, 98% of employees recommend#25 Fortune 100 Best Companies to Work For, South-East Asia

The people who build our portfolio companies stay for years, so founders never lose six to twelve months rebuilding a team mid-runway. We didn’t raise our way here. We built our way here.

Funds 1 and 2, 2020 to today

Tuition paid by us, not our LPs.

90%
of our portfolio still in business at year four

In venture overall, three in four backed companies never return cash to their investors.*

Fund 1
US$6.3M
invested
14
companies
86%
alive at year four

It proved the model keeps companies alive, and taught us selection the expensive way.

Fund 2
US$8.7M
invested
21
companies
95%
alive at year four

The lessons applied: a tighter funnel, code-level diligence, and team time concentrated on the strongest companies.

Fund 3 starts with both funds’ lessons, and a dedicated Australia platform neither of them had.

* Shikhar Ghosh, Harvard Business School: more than 2,000 US venture-backed companies that raised at least US$1M between 2004 and 2010.

What it looks like from the inside

Lower burn. Faster product. Stronger next round.

Payment LogicAustralia
6.6×
marked up since entry

With us since 2020. The team with Arcanys grew from 2 to 20, and payments processed from US$70M to US$6B a year.

Register NowAustralia
<1 year
from investment to exit

US$320k of engineering in 2021 and 12 dedicated engineers. Acquired by ASICS Group in December 2021.

DuetUnited States
−75%
critical incidents

US$296k of engineering in 2021. Feature delivery time halved, and two follow-on rounds since.

Skin in the game

We earn nothing until you receive cash.

0%
carry
100%
of our upside is equity, in the same companies and share class you hold
~200%
GP commitment: 5% in the fund plus around US$10M of services against a US$5M fund
15%
of Arcanys’ stake in every company paid in cash to all 350+ employees at exit
If a company fails, we lose the equity, the team time, and every employee loses their share of the exit. More than any LP.

What the structure alone is worth

In most funds, fees eat a third of your return. Here, gross is nearly net.

96¢
of every gross dollar reaches you in Fund 3
81¢
in a typical 2/20 fund, after management fee and carry

The fund pays only its administration cost: US$40k a year, plus up to 0.4% a year for contingencies. The partners take no fee and no carry.

Illustration, not a forecast: the same portfolio and the same 3x gross outcome in both structures. The full waterfall and assumptions are in the deck.

Deal flow, January 2025 to June 2026

983 opportunities. 10 investments.

72%
from the Arcanys network, clients and portfolio
100%
of investments came through warm channels

Our diligence covers the code, the architecture and how the product is actually built. Very few investors look at the tech at all.

  1. Opportunities reviewed983
  2. Screening calls321
  3. In-depth review128
  4. Due diligence44
  5. Term sheets15
  6. Investments10

Who runs it

Two Swiss founders. 25 years of building companies, 200+ startups worked with.

Alan Debonneville
Alan Debonneville
Co-founder and Managing Partner

Built and exited IGE, which raised US$80M at a US$220M valuation backed by Goldman Sachs.

Fred Joye
Fred Joye
Co-founder and Managing Partner

Came out of Swiss private banking and fintech, then built Arcanys commercially. Built from 0 to 350+ people, self-funded.

Advisors
Karen Lawson
First MD of Arcanys Ventures in Australia. Former MD of Spotify and Peloton ANZ, and a CEO, VC, investor and NED across global digital and tech platforms, including Save the Children Global Ventures.
Martin Olczyk
Managing Director, Techstars.
Ollie Lamb
Founding Partner, Novaterra. Former Morgan Stanley.

The fund

We built this alone. Now we are ready to scale it with you.

US$5M
LP capital, with around US$10M of Arcanys services alongside
10 to 20
companies, Seed to Series A, in Europe and Australia
~US$200k
cash per company, plus around twice that in services
0%
carry. Singapore VCC, administered by Auptimate / Nova
US$200k
minimum commitment, rolling closes
  1. 01
    Request the deck

    Leave your details below and we email you the full Fund 3 deck.

  2. 02
    Talk to us

    Ask for a call in the form below. A team member will get back to you personally to find a time.

  3. 03
    Data room

    Fund documents, the Fund 2 portfolio in depth and the full LP economics model.

  4. 04
    Ready

    Subscription and onboarding through Auptimate / Nova. US$200k minimum, rolling closes.

Deck and call

Request the deck or message us.

Tell us what you would like. We email the deck to the address you give us, and we reply to every message ourselves.

What would you like? *

For information only, directed at qualified, wholesale and professional investors. Not an offer to sell or a solicitation to buy securities. Track record is gross, internal marks as of June 2026, with material marks priced by externally led rounds. Past performance is not a guide to future results.