DOZEN INVESTMENTS AI Overview on 09/2025

Overview of Dozen Investments 🚀

Dozen Investments (formerly The Crowd Angel) is a Spanish equity crowdfunding platform (founded 2011) that lets retail investors fund high-growth startups online. Investors buy minority equity or convertible debt stakes in carefully screened tech companies (often alongside top VCs). Dozen is fully regulated under Spanish crowdfunding law and by the CNMV (Spain’s markets regulator) – it received CNMV accreditation in 2017 and EU ECSP authorization in Dec 2023. Key advantages include a rigorous deal flow (only ~2% of applicants are approved), co-investment with leading VCs, and quarterly reporting to investors. Main risks are typical for startup equity: very high risk of loss (no capital protection) and illiquidity (no guaranteed exit or market). Investors should be aware there are no government guarantees; losses can be partial or total if a startup fails.

Dozen Investments Product Details 💼

Dozen offers startup equity and convertible loan investments. Investors commit from as little as €1,000 per project (the platform fixed this minimum to €1k to diversify portfolios). Each deal is structured with professional VC-standard contracts and uses a regulated escrow (Lemonway) for safe payments. Returns are generated only if the startup has a liquidity event (sale or IPO); past exits have yielded very high multiples (e.g. Glovo 14×), but many investments also fail or return little. There is no fixed maturity – money is locked until exit (often 4–7 years). Important metrics: minimum ticket €1,000; no hard upper limit for individuals (subject to regulatory caps). Major risks: startup failure (loss of principal), extreme illiquidity (no secondary market), dilution and regulatory limits. The Spanish law limits each raise to €2M (or €5M to accredited investors), and crowdfunded shares are unlisted. There is no deposit or investor guarantee fund – investors bear full default risk.

Dozen Investments Company Profile 👥

Dozen Investments PFP, S.L. is a Spanish company (Madrid registry, CIF B-65.640.724) founded by Ramon Saltor (ex-Inveready) in 2011. It was originally called The Crowd Angel and backed by VCs such as Inveready, Cube Ventures and SevenZonic. In late 2023 Dozen was acquired by Orbyn Group (owner of Fellow Funders) with CNMV approval; Orbyn (co-founder Francisco Mariscal) now oversees Dozen’s operations. Saltor stepped down as CEO in mid-2025 (remaining a shareholder). Key advisers include noted Spanish VC figures (Josep M. Echárrí, Angel Cano, etc.). Legally, Dozen is licensed as a PSFP (crowdfunding service platform) under Spanish law and EU regulation, supervised by the CNMV. It is not a bank or fund; it cannot give investment advice or offer guarantees. No CNMV sanctions or warnings have been reported to date.

Dozen Investments Volumes and Results 📊

Dozen reports that by 2024 it had processed about 188 funding rounds and over €48 million invested in startups. Around 26,630 investors were active on the platform (mid-2025) (for context, Orbyn said Dozen had ~20,000 users in late 2024). There are no loans, so defaults are measured as startup failures; Dozen has not published default/loss stats. Historical performance: the portfolio’s net IRR is ~17% (2015–2022). Notable exits include Glovo (14× MOIC) and Innovamat (12×). Average investor returns vary widely: many rounds only return 1–3× or fail, but top outcomes have been much higher (e.g. Invofox exit yielded ~390% IRR). In the aggregate, Orbyn Group (Dozen+Fellow) cites funding 150+ million EUR in recent years.

Dozen Investments Risk Approach and Management 🔍

Dozen uses a rigorous VC-style selection for projects. Only ~2% of startup applications make it to the platform. In-house criteria emphasize viable, scalable tech businesses with strong teams. Every approved company undergoes external due diligence: independent financial, legal, tax and labor audits are conducted. The platform structures each deal professionally (shareholders’ agreements, board seats). Investors are kept informed: quarterly financial and progress reports are sent and an investor representative may sit on the startup’s board. Dozen tracks portfolio performance but does not publish public risk scores. Sector/geography filters are minimal (mostly Spanish/European tech and high growth industries), and they encourage diversification across stages (seed, growth, etc.). Close monitoring continues post-investment, with Dozen coordinating follow-on rounds and advising startups until exit.

Dozen Investments Platform Functionality 🛠️

The Dozen platform is user-friendly but relatively basic. It does not offer auto-invest or a secondary market. Investors pledge and pay via Lemonway (an EU-licensed escrow). Opportunities are listed at set rounds with a fixed minimum ticket (currently €1,000). To diversify, investors can split funds across multiple deals. The site provides an investor dashboard (“Mi Cartera”) to track commitments and distributions. It publishes detailed project pages (pitches, financials) but no advanced screening tools. Quarterly updates and dashboards show portfolio status. No buyback or insurance exists. The platform and materials are primarily in Spanish, though foreign investors can participate with a Spanish NIE (see [23†]). All transactions are in EUR. Customer support is via email; Dozen is active on social media but is a relatively small team.

Dozen Investments Pricing and Fees 💰

Fees are clearly stated for investors: registration is free, then 6% + IVA of each invested amount, plus 15% + IVA carried interest on gains. For example, investing €1,000 costs €60 upfront (not counting VAT) and Dozen takes 15% of any profits later. Dozen lists these investor fees publicly, showing good transparency. Fee terms for fundraising companies (campaigns) are not published on the site. It is typical in equity crowdfunding to charge a success or listing fee, but Dozen does not openly detail any founder-side commissions or fixed costs. In summary, the investor’s pricing model is straightforward; however, companies seeking funding must inquire privately about Dozen’s charges. Investors should note these fees are on the higher side (6%/15%), reflecting Dozen’s full-service model.

Negative Publicity about Dozen Investments ⚠️

No major scandals or regulatory sanctions have been reported against Dozen. However, user feedback is mixed. On Trustpilot (6 reviews, avg. 4.2/5), most recent investors praise Dozen’s professionalism and track record. One older (Feb 2023) review complained of “very poor service”, noting delayed updates and unresponsive communication. Bloggers note that Dozen lacks a secondary market (so exits can take years) and had a relatively high minimum (€1,000) compared to some peers. Dozen has no public complaints about fraud or legal issues; its model is the same high-risk equity crowdfunding as competitors. Red flags: startup investing is inherently risky (any losses are borne by investors), and the absence of liquidity means investors must be patient. No official warnings or sanctions by the CNMV or press reports of defaults have surfaced, but potential investors should remember reviews like the above and do their own due diligence.

Success Stories of Dozen Investments 🏆

Dozen has backed several notable Spanish tech successes. Glovo (food delivery) is the poster child: early Dozen investors enjoyed ~14× their money when Glovo later sold to Delivery Hero. Other alumni include Innovamat (edtech, ~12× return), Swipcar (auto rental, 8.4× return) and Cuideo (eldercare, ~4.8×). Dozen startups Skitude and Parlem went public (IPOs in 2020–21). These exits have produced very high IRRs for lucky investors (e.g. up to ~390% IRR on Invofox). The platform also boasts strong VC partnerships: Dozen co-invests with leading funds (Inveready, Bonsai, etc.) at the same terms, helping validate deal quality. In Nov 2024 Orbyn Group announced its acquisition of Dozen, highlighting Dozen’s maturity – Orbyn now serves 70,000+ total investors across its platforms. Glovo’s co-founder (Sacha Michaud) even credits Dozen with raising Glovo’s seed €300K and later €3M rounds. No industry awards are listed for Dozen, but it is frequently cited in Spanish media as a leading equity crowdfunding platform.

Is Dozen Investments safe and regulated?

Yes. Dozen is authorized and supervised by Spain’s CNMV (register No. 18 since Mar 2017) under EU crowdfunding rules (PSFP). It uses EU-licensed systems (e.g. Lemonway). However, it is not a bank and has no state guarantees for investments.

What returns can I expect?

There are no guaranteed returns. Historically Dozen’s portfolio has averaged ~17% net IRR, but that masks wide variability (some deals triple returns, many yield low or zero return). Prospective returns depend on startup success, which is highly uncertain.

What are the main risks?

Startup equity is very risky. Key risks include total or partial loss of capital, very low liquidity, and dilution in future rounds. Economic and market conditions can make exits rare. Dozen explicitly warns investors not to commit money they cannot afford to lose.