“At Resonance, we make fast decisions - often offering a term sheet in less than two weeks - and we make sure the process is a two-way conversation.” Partner meetings are where 80% of investment decisions are made and yet they focus too much on form over substance, and have a natural bias for great communicators,” Le Dantec says. The process often ends with a partner meeting - a presentation in front of a large audience of partners which does allow for conversation. “Too often, fundraising is a bad experience for founders: it’s very opaque with no clear timeline. “At the moment, we really want to focus on getting the best deals,” Le Dantec says.Īfter partners receive their share of the fund’s performance, the remaining profits will be donated to Stérin’s charity, Le Fonds du Bien Commun, which invests in and incubates charitable projects focused on social causes like education and loneliness.Īnother of the fund’s goals is to improve the fundraising experience for entrepreneurs. “ Too often, fundraising is a bad experience for founders: it’s very opaque with no clear timeline” Resonance says it may soon recruit people in the UK and Germany to chase deals and help their entrepreneurs with expansion plans.
With a sole limited partner, decision-making is also streamlined. That means that the fund has no end date, and there’s no pressure to exit portfolio companies by a certain date. One of the benefits of being backed by Otium is the ability to create an evergreen fund. “We benefit from being inside Otium but we have our own name and own fund, we have full ownership on things like marketing and investment decisions.” “Alban and I really wanted to create a fund, and we took the best of two worlds,” Le Dantec says. The CEOs of Doctolib and ManoMano both worked at Otium Capital before setting up their own companies, which are now two of France’s most valuable startups. This isn’t the first time Stérin has offered young entrants to the startup world a helping hand.
“I’m investing mostly in fintech and large enterprise SaaS with a tech component, and Alban is more focusing on consumer SaaS SME.” Otium Capital and Resonance “We always knew we wanted to create something together, and we have complementary sectors of interest,” Le Dantec tells Sifted.
Le Dantec and Oudin met at university and started out as entrepreneurs before joining VC firms.
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