Questions, answered.

Calmar is one platform for Europe’s investor networks, startups and hubs. It brings together two things that usually live in separate places: the software a round runs on and the SPV (the legal structure) it closes in.

For angel syndicates, the software provides the Investors Clubroom, data insights into your network, our matchmaking tool that connects you with top European investors and access to the ecosystem of 50+ networks across Europe. Pooling and syndication keep the cap table clean.

For startups, the software includes a branded clubroom, a matchmaking tool that connects you directly with the best-fitting investors, and our Fundraising Academy, which walks you through the next steps to a faster, sharper raise. Plus, you gain access to the ecosystem of 50+ networks across Europe.

For lighthouses and hubs, the software provides the pitch-deck analyzer, which shows the quality of your startups’ pitches at a glance, as well as data insights into your network and, of course, access to our vast ecosystem. Recommend Calmar to your startups, too: we create rounds that close.

The software Pooling and SPVs

Both, and they are priced separately. A membership pays for the software. Pooling is a service on top of it: arranged per deal and charged only when a transaction is carried out.

No. Calmar is neither a fund nor a syndicate of its own. It is open infrastructure: networks run their rounds on it under their own brand, and every investor network in Europe can join.

There are three. The Angel Syndicate Membership is for syndicates and investor networks that want to run their syndicate like a fund and improve their overview and workflow.

The Startup Membership is for founders who raise with many angels and want a clean cap table or are trying to reach new investors.

The Lighthouse Membership is for hubs, incubators, accelerators and universities that want to carry their startups beyond the funding round and join our vast European network ecosystem.

Some syndicates started as lighthouses, and some lighthouses run their own syndicate. If you are not sure, click on ‘Contact us’ and tell us what you run, and we will figure out which membership is best for you.

Angel syndicates Startups Lighthouses Contact us

Europe has 800+ angel networks and thousands of hubs, each with its own tools, its own process and its own investor list. Over €2BN in angel investments move through them every year, by hand.

Calmar puts pooling, investor management and matchmaking on one platform. Every network that joins brings its investors into the same ecosystem, so a round can reach further than the network it started in.

Why now

Calmar grew out of Gateway Ventures, an angel network that started in Vienna in 2015. We ran rounds for our own investors for years, began building our own software in 2023 and opened it to other networks in 2026.

The same four people run the fund, the angel network, the product and the portfolio.

Meet the team

More than 50 partner networks across Europe and a community of 7,000+ investors and founders. Since 2015, more than €32M has been invested and 70+ startups have been financed.

Partner networks can join each other’s rounds, so a startup reaches investors beyond the network it started in.

Startups close their rounds on Calmar and angel networks run their clubrooms on it. Proxima Fusion raised on Calmar from its first round: thirty investors from nine countries, pooled across four rounds between 2023 and 2026, one line on the cap table. Today the company is valued at €2BN.

Value Scale had more than 100 investors on its cap table and has them pooled and managed on Calmar. Networks such as Business Angels of Slovenia, French Sharks and Danube Angels run their own clubrooms.

Meet our clients

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Privacy policy

A clubroom is your own branded space on Calmar. You invite investors by URL or QR code, share your data room, updates and reports, and collect letters of intent, all in one place.

A startup uses it as the page of its round: pitch deck, deal terms, data room and the meetup. A network uses it as the home of its members, under its own logo and subdomain, with the newest deals, meetups and each member’s portfolio.

The matchmaking tool suggests investors that fit your stage and sector. It draws on the whole ecosystem of 7,000+ investors and founders, not only on your own network. You can meet them virtually and collect signed letters of intent on the platform.

Startups have the matchmaking tools included in their membership. For syndicates, the tool is part of Lead Partner.

Who invests in what, when and why. Every investor of your network is listed with contact, interests, domain expertise and what they have invested so far, and you can filter the list before you share a deal.

Across the whole network you see its volume, the average ticket size, active investors and open deals, and where your partner networks sit on the map of Europe.

Every deal has a board where your investors move from ‘interested’ to a ‘confirmed’ letter of intent, with the amounts shown at each stage. Each letter of intent is listed with its date and amount for each network.

Partner networks that join the round work on the same board.

Webinars and a deep knowledge base that walk founders through a faster, sharper raise, step by step. It is part of the Startup Membership. Syndicates get the Calmar Academy with both partner models.

A virtual VC analyst: it assesses the quality of a pitch deck in seconds, before the deck goes out to investors. It is part of the Lighthouse Membership.

Yes. Each membership page shows screens from the product: a round in its clubroom, the investor board, the insights and the network map. The people and deals in the pictures are invented; the screens are the product.

For syndicates For startups For lighthouses

A special purpose vehicle is a company set up for one purpose: to hold one investment on behalf of several investors. The smaller investors invest in the SPV, and the SPV invests in the startup. It provides the legal structure.

And it gives you a better overview: one line on the cap table instead of thirty. Signing, KYC and investor administration happen inside the SPV and are handled for you.

Signing, KYC and the administration of the pooled investors. They remain managed for you after the round as well. For instance, Value Scale, with more than 100 investors, has all its smaller investors managed this way.

No. Membership fees cover software access. Pooling is a separate service, charged to the startup as a percentage-based fee when the transaction is carried out.

Pooling is arranged per deal, so there is no pooling fee until a round actually closes through an SPV.

Yes. The membership stands on its own: clubroom, matchmaking, ecosystem and academy. Pooling is added per deal when a round needs it.

Membership fees cover software access. Pooling is a separate service, charged to the startup as a percentage-based fee when the transaction is carried out.

As a percentage, the fee depends on the size of the round, and it applies to each round you pool. Contact us for the details of yours.

Contact us

Yes. A syndicate pools its smaller investors behind one SPV per round: one clean line on the startup’s cap table, managed for you. As for startups, pooling is arranged per deal.

Yes, there is no limit. Pooling is rolling: your investors can be pooled again in every new round, and the pooling fee applies to each round.

Proxima Fusion pooled thirty investors from nine countries across four rounds between 2023 and 2026, with one line on the cap table.

Everything a syndicate needs, in one place. Invite your investors into your own branded clubroom. Know who invests in what, through data insights across your network. Match each deal with fitting investors from the ecosystem. Reach 50+ networks across Europe, share deals with them and co-invest in theirs. Pool your smaller investors into one clean line on the cap table.

Angel Syndicate Membership

Core Partner is free. It gives you a branded clubroom, personal onboarding for your investors, deals and the coordination of your investor group, co-investing in the dealflow of other partners and the Calmar Academy, for up to 30 investors and up to 5 deals per year.

Lead Partner costs €1,000 per year and has no limit on investors, deals or sharing. It adds investor activity insights and analytics, the matchmaking tool, priority access to cross-network deal sharing and an annual strategy review with your Calmar contact.

Partner fee models

Yes. Your clubroom runs under your own logo and your own subdomain. Your members land in a cockpit with the newest deals of your network, meetups, what needs their action and their portfolio. Your brand, our infrastructure.

Yes, that is what the ecosystem is for. Deals that partner networks share with you arrive as incoming deals, you share yours with them, and on a shared round the networks work on the same board.

Core Partners can co-invest in the dealflow of other partners. Lead Partners get priority access to cross-network deal sharing and use the ecosystem to find fitting co-investors in Europe.

With a short form: your name, work email, your syndicate or network and the partner model you want. Applying is free and non-binding. We review every application and reply within a few days.

Apply as a syndicate

Full access to the Calmar software: investor matchmaking tools, a branded investor clubroom, access to the Calmar ecosystem of 50+ networks and the Fundraising Academy.

When the round closes, your smaller investors can be pooled into one Calmar SPV, with signing, KYC and investor administration handled for you. Pooling is a separate service.

Startup Membership

In five steps. 1. Learn: work through the Fundraising Academy. 2. Invite: open your clubroom via URL or QR code and share your data room. 3. Match: find suitable investors in the community of 7,000+ investors and founders. 4. Reach: tap into 50+ partner networks across Europe. 5. Pool: your smaller investors are pooled in a Calmar SPV, and the funding round is closed.

Value Scale closed a full round this way in three months.

How it works

One membership with full access to the Calmar software: €99 a month, or €950 a year, which comes to about €79 a month.

Membership fees cover software access. Pooling is a separate service, charged to the startup as a percentage-based fee when the transaction is carried out.

Pricing

Join before 1 January 2027, and nothing is due on the day you sign up. The first three months of your membership are free. The membership fee starts in month four, billed monthly or yearly, as you have chosen. With yearly billing, the payment in month four covers the following twelve months.

Joining involves a short sign-up: your name, work email and startup, your choice of monthly or yearly billing, and acceptance of the membership terms. You can add your pitch deck as a PDF and a discount code if a partner or mentor gave you one.

You receive a confirmation email, and your invitation to the Calmar clubroom follows within the next few days.

Join now

A lighthouse is a hub, incubator, accelerator, university or regional ecosystem that supports the startups and investors around it.

A clear process that carries your startups past the funding round. Assess their pitch decks in seconds with the pitch-deck analyzer. Know who in your community invests in what, when and why. Reach 50+ networks across Europe, so your startups meet investors beyond your own region. Close: each startup opens its round in its own clubroom, collects signed letters of intent and pools its smaller investors into one Calmar SPV.

If you want, you also build your own investor network with branded clubrooms, so the investors you win stay with your community.

Lighthouse Membership

No, that part is optional. You can use the insights, the pitch-deck analyzer and the ecosystem on their own, and add your own investor network on the Calmar pooling engine when you are ready.

With a short form: your organisation and how you want to use Calmar, for your startups, for your angel investors or for your own network. Applying is free and non-binding. We review every application and reply within a few days.

Apply as a lighthouse