Back better companies.
Auryn is one platform for venture investors. It researches every deal, models the return, and runs the fund admin, from the first deck to the LP statement. You still make the call.
Run one deal through it.
Below is a single deal moving through Auryn, start to finish. The company is invented. The machinery is not: the thresholds, weights and exit buckets here are provided by the platform, and every one of them is yours to change. Auryn does the work. The decisions stay yours.
Most of your best deals never apply.
Auryn works your thesis as a standing order: it finds companies that fit, tracks down the right contact, and opens the conversation. The deal below arrived this way, not through the inbox.
| Stage | Count |
|---|---|
| Discovered | 312 |
| Rejected at ingest | 241 |
| Enriched and contacted | 71 |
| In conversation | 23 |
| Applied | 6 |
A deck arrives.
A founder uploads a deck. Auryn reads the whole thing, charts and tables included, and turns it into a structured brief: unit economics, traction, competitive claims, and a list of what the deck never mentions. The application fills itself from that, before the founder types anything. Anything the deck does not say is left blank, never guessed, and every field it did fill stays marked as machine-written.
- Industry
- Industrial automation AI
- Geographic focus
- Nordics AI
- Revenue stage
- Early revenue AI
- Round size
- €1.2M pre-money left blank
The screen runs while you sleep.
Every deal scored against your thesis, not a generic rubric, with the reasoning attached to each number. Where the assessment is contested, it says so instead of quietly averaging it away.
| Criterion | Weight | Score | Panel |
|---|---|---|---|
| Industry match | 84 | — | |
| Stage match | 92 | — | |
| Geographic match | 100 | — | |
| Team | 68 | 62 / 68 / 79 | |
| Timing | 60 | contested | |
| Business model | 44 | 41 / 44 / 58 | |
| Competitive position | 50 | 46 / 50 / 62 | |
| Weighted overall | 71 | — |
It knows what it does not know.
Auryn finds the gaps its own research cannot close, writes them as plain questions, and drafts the email that asks them, ready for you to send. It only asks what only the founder can answer, so nobody is made to retype what the deck already says, and every open point on the scorecard is covered by at least one question.
| Open point | Resolved by | Count |
|---|---|---|
| Closed by research | Auryn | 12 |
| Already in the deck or application | Auryn | 8 |
| Only the founder can answer | Founder | 11 |
| Questions actually sent | 11 |
The answers come back into the same scorecard. They outrank anything the deck was read for, and neither one overwrites an analyst who has already formed a view.
Then the part nobody wants to do by hand.
It models the whole path: the rounds still to be raised, what each one dilutes you to, and the milestones the company has to clear on the way. Auryn prices the exit buckets from comparable transactions rather than optimism, and proposes the probabilities. You can overrule both. This one comes back under target, and says so.
Where the return actually comes from
pwMOIC result
Below target. The threshold on this thesis is 7×.
- Key driver
- Post-money
- Swing at ±20%
- 3.49× to 5.24×
- Expected dilution
- 42%
- Clears 7× at
- €2.8M post
| Exit bucket | Modeled | Exit value | MOIC | Weighted |
|---|---|---|---|---|
| Small | 32% | €7M | 0.85× | 0.19 |
| Mid | 42% | €28M | 3.38× | 1.01 |
| Big | 17% | €78M | 9.43× | 1.14 |
| Unicorn | 9% | €240M | 29.0× | 1.85 |
| pwMOIC | 100% | 4.19× |
Then someone has to go and check.
Auryn writes the diligence plan the deal actually needs: every task a work order someone who was not in the room can execute, with the documents to request, the procedure, and the condition that closes it. Each one is routed to whoever performs it, and every claim in the deck that could not be confirmed becomes its own task, quoted verbatim. A founder’s answer can reclassify a concern. It cannot close one.
Coverage and risk by area
| Area | Tasks | Risk |
|---|---|---|
| Technical | 3 | Low |
| Financial | 7 | Medium |
| Legal | 7 | Medium |
| Market | 4 | Medium |
| Team | 5 | High |
| Total | 26 |
Team is rated high because the screen’s three judges disagreed on it. Where they disagreed, the work is ranked up.
One task, in full
Reconcile FY2024 revenue against the €420k ARR claimed on slide 11
- Executed by
- External firm
- Documents
- Ledger, billing export, bank
- Closes when
- ARR ties to billing within 5%
- Finding
- Unmatched externally High
A pre-seed gets the same five areas, asked more gently. No area is ever dropped for being early.
A memo you can argue with.
Everything above, drafted into a memo you can take to the partnership as a Word document. It has to argue the bear case, and here it does not recommend the deal as offered. It recommends a price.
“Proceed only at or below €2.8M post. At the offered €4.8M the weighted return is 4.19×, against a 7× threshold.”
- Executive summary
- Why now
- Deal overview
- Product
- Market opportunity
- Traction and financials
- Founder assessment
- Investment thesis
- Bear case
- Path to venture outcome
- Return analysis
- Risks and mitigants
- Diligence plan
The round closes at the modeled price.
Auryn records what happened and works out the rest. You never type an ownership percentage, because a number you can type is a number that can drift.
Facts stored
- Amount
- €0.5M
- Post-money valuation
- €2.8M
Derived, never entered
- Ownership at entry
- 17.86%
- After Series A
- 12.77%
Three years later, the same facts.
The statement your LP receives is derived from the same records. Nothing was re-keyed along the way, and the roll-forward has to close before it can be issued.
| Capital account | EUR |
|---|---|
| Beginning balance | 4 812 000 |
| Contributions | 750 000 |
| Distributions: return of capital | (310 000) |
| Distributions: realized gain | (128 000) |
| Allocated change in value | 402 000 |
| Ending balance | 5 526 000 |
Why any of this is worth doing
A firm considers around a hundred opportunities for every deal it closes, and spends roughly 118 hours on each one it takes seriously. Nearly all of that produces a no.
Auryn concluded that an additional 200 MSEK was needed on top of the ongoing round to take the analyzed company through the final phase. When we spoke with the founders it turned out to be exactly the amount that was missing.
After reviewing Auryn’s analysis of our company I can clearly see what we need to focus on going forward, and I agree with every single point. I also realise that our thinking around valuation needs to be reconsidered.
We have cancelled our previous tool after starting to use Auryn.
We are very impressed by Auryn. It is easy to use and intuitive, with a clear interface.
The cost of the no is what decides how many companies a small team can look at, and therefore how likely it is to be holding one of the four percent that return 10x or more. Diligence and cycle figures: Gompers, Gornall, Kaplan and Strebulaev, Journal of Financial Economics, 2020. Return distribution: Correlation Ventures, 21,000+ financings, 2004 to 2013.
That deal was one pass through it
The same four modules run the rest of your funnel, the rest of the portfolio, and the fund itself.
Dealflow
Outbound sourcing against your thesis, inbound triage, and screening.
Analysis
Deck processing, exit research, diligence checklists, drafted memos.
Portfolio
Founder-reported KPIs, runway alerts, cap table, fair value and IRR.
Fund and LP
Commitments, capital calls, distributions, PCAP statements, and the books.
Built for lean investment teams
Small enough that the process is the constraint, serious enough that it has to hold up in front of an LP.
VC funds
Run the fund from sourcing to LP statement in one place, without a stack of single-purpose tools between them.
Family offices
Invest directly without keeping a deal team on payroll, and give the principals reporting that explains itself.
Angel syndicates
Share the analysis, track who is in on what, and give members a portfolio view that stays current on its own.
Priced for how you invest.
Plans run from a single angel to a multi-fund team. Book thirty minutes: we walk you through a finished deal and find the plan that fits on the call.
- 1Time
- 2Your details
The hard questions, before the raise.
Run a deck through the same analysis these funds use, reviewed by an Auryn analyst, back in three to five business days. Founders buy it ahead of a raise; investors buy it for portfolio companies heading into one.
Now watch it work a deal.
In thirty minutes we walk you through a finished deal, from the first screen to the investment memo, and show where every conclusion comes from. Judge it the way you would judge an analyst.
Thirty minutes on Google Meet. Bring your questions; there is nothing to prepare, and you will know by the end which plan fits.