In our new article series, we introduce the most exciting venture capital firms that are open for LP investments to our family office network. The article belongs to our exclusive single family office guidebook, where we give guidance on the most relevant topics for newly established and already existing family investment vehicles.

In this article, we talked to Senovo, a Munich-based venture capital fund. We decided to get in touch with Senovo due to their exciting B2B SaaS investment focus. (FO): Briefly describe your focus: in which kind of startups are you investing, where is your geographical focus, what’s your average ticket size?

Senovo: Senovo is an early-stage venture capital firm based in Munich and Berlin that partners with exceptional founders building global B2B SaaS category-leaders from Europe.

As European first-mover, the fund invests since 2013 into a new generation of B2B software startups which enable the digitalization of medium and large enterprises. Their focus is primarily on supporting teams working in the areas of process optimization, industry 4.0 and data-enabled solutions.

Senovo joins the journey after a company has first revenues in a late Seed or Series A round. Their team of SaaS specialists seek meaningful eye-level relationships and regularly publish their learnings and thought leadership at

FO: What are exciting companies in your portfolio?

Senovo: Among our most successful B2B SaaS companies are: Riskmethods, Anyline, Manta, and Quantilope

FO: Why should a family office invest in Senovo as LP?

Senovo: Europe is the perfect breeding ground for B2B Software Companies. However, specialization is crucial for outstanding returns. Our true edge is (1) a strong market positioning: with 3 previous funds, we are the European expert for early stage B2B SaaS, increasing credibility with founders and high-quality inbound dealflow, (2) we invest in category leaders across Europe – not just the best domestic player and (3) our approach is pandemic/recession proof – 2020 – a strong year for B2B SaaS, our companies remained solid and successful

FO: Thanks for your time!

senovo family office lp investments

Headquarter: Munich, Germany

Soon, a new bank will launch in the United Kingdom: Recognise Financial Services plans to establish a new bank for small- and medium-sized businesses. A lead investment in the amount of £25M was done by Ruth Parasols single family office RG Advisors. That’s the largest investment since the beginning of the global COVID-19 pandemic. Parasol’s family office believes in a funding gap for SME in UK, since banks will likely shy away from the funding of new ventures after the pandemic. It is expected that the new challenger bank will receive its full banking license in the following weeks. Recognise is led by CEO Jason Oakley, who was formerly a Managing Director of Commercial Banking & Mortages at Metro Bank.

Ruth Parasol Single Family Office: RG Advisors

The lead investor, RG Advisors, is the single family office of Ruth Parasol. RG Advisors is Gibraltar-based and was founded in 2004. Parasol founded PartyGaming in 1997, which was sold to Bwin Interactive in 2010. Her net worth is estimated at £780M. Through different investment vehicles, Parasol invests in technology, real estate, private equity and other asset classes.

Source: GBC, 28.10.2020
Picture Source: Michal Mrozek

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Marinya Capital, the single family office of Australian media family Fairfax, acquired farmland in Tamworth worth $23M.

Agricultural investment in south-east Queensland

The agricultural business of the Fairfax family will be called Fairglen Farms. The purpose of the venture is to invest in “large scale agricultural businesses for the Fairfax family”. The geographical focus will lie on Australia and New Zealand. Furthermore, strategic partnerships across the agricultural supply chain will be established. The first acquisition is a 990 hectare mixed-farming property in Klroi. Another investment of Fairglen was, according to The Australian Financial Review, a 88 hectare poultry farm that was acquired for $5.45M. The Fairfax family is an active player in agriculture investments and nature conservation. Besides, the company also invests in other asset classes, funds and startups like v2foods.

Source: Australian Financial Review, 28.10.2020
Picture Source: Dan Meyers

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Rosh Capital Management, an asset manager from New York, received a $600M investment from a Swiss-based single family office in order to launch a reinsurance company. Through the $600M investment, Bermuda-based Rosh Re Ltd. is initiated. The company will pursue an investment-oriented reinsurance approach. Rosh Re will provide usual reinsurance products as well as solutions to offload their balance sheets. The $600M investment is led by Ajay Kumar’s Zug-based single family office WM Holding AG. Kumar is an active industrial investor.

Source: Artemis, 28.10.2020
Picture Source: Shea Rouda

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Marinya Capital – the single family office of the John Fairfax family – invests in the $55M (or: AU$77M) Series B funding round of plant-based meat company v2food.

v2food: Australian startup working on plant-based meat alternatives

The Australian startup v2food works on various plant-based meat alternatives. For example, v2mince is an alternative for beef mince. For burgers, the startup offers the v2burger patties. The company’s burgers are served nation-wide in Hungry Jack’s and Burger King restaurants. In 2019 V2 was first launched through a collaboration between the Australian science agency CSIRO and the innovation fund Main Sequence Ventures as well as the fast food franchise owner Competetive Foods Australia..

Fairfax Single Family Office as investor in recent $55M Series B

Now, V2 raised its recent record-breaking $55M Series B funding round. Investors include Singapore’s state fund Temasek, Sequoia Capital China, and Horizons Ventures. The funding round was the biggest in the sector in Australia yet. Another investor of the Series B was Marinya Capital – the single family office of the John Fairfax family. John B. Fairfax established Fairfax media, a leading media firm in Australia. Besides venture capital, Marinya Capital also invests in property and fund managers. Investments in plant-based startups receive more and more capital from single family offices. Another active investor in the field is the Jeremy Coller single family office CPT capital.

Source: Greenqueen, 28.10.2020
Picture Source: Rolande PG

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The single family office of WeWork founder Adam Neumann – 166 2nd LLC – invests in the Series C funding round of resident management software startup Alfred.

Resident experience startup from New York

Hello Alfred is a software platform that enables real estate owners to offer residents “an exceptional living experience by providing leading-edge technology with personalized hospitality services”. For example, rent payments can be managed through the app, maintenance requests can be handled, incoming packages can be managed, property managers and concierges can be coordinated. The company is working for large real estate investors and owners like Jamestown, Invesco or Brookfield Properties. The software is applied at more than 100,000 homes in the United States.

Neumann single family office as investor

There were various investors in Alfred’s recent $42M Series C funding round, amongst others from Spark Capital, NEA or Greystar. Adam Neumann’s single family office 166 2nd LLC is a new investor. Usually, 166 2nd LLC is primarily engaged in personal real estate transactions of Neumann. Now, the family office also engages in a venture capital deal. Neumann’s net worth is estimated between $450M and $750M. He is the founder of co-working firm WeWork, where he had to step down as CEO in 2019.

Source: Pulse2, 28.10.2020
Picture Source: Kamal Kant Kosariya

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ECBF Management GmbH, a German venture capital firm, launched Europe’s first “European Circular Bioeconomy Fund (ECBF)”. Now, the first €82M financing round of the fund has been realized. Amongst the investors is the Dr. Hettich Beteiligungen GmbH, the single family office of the German Hettich family.

European Circular Bioeconomy Fund (ECBF)

ECBF focuses on the European bioeconomy and the circular bioeconomy. The fund was initiated by a team around Michael Brandkamp, Michael Nettersheim and Dirk Saßmannshausen. All General Partners of the new fund were former emplyoees of German VC fund HTGF. Already two investments – in PeelPioneers B.V. and Proloupin GmbH – were made by ECBF. Prolupin is a spin-off from German Frauenhofer Institut that works on lupine-based products. PeelPioneers recycles orange peels to food ingredients.

Investment by Hettich single family office from Herford, Germany

The new European Circular Bioeconomy Fund raised a first round of €82M. Investors are the European Investment Bank, PreZero, Corbion and Dr. Hettich Beteiligungen GmbH. Dr. Hettich Beteiligungen GmbH is the single family office of Dr. Andreas Hettich, the majority shareholder of the Hettich Group, a global leader in furniture fittings. The Hettich family office focues on innovative and sustainable industrial companies.

Source: DGAP
Picture source: Kunal Shinde

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The single family office of Egyption billionaire Nassef Sawiris launches a $600M Special-purpose acquisition company (SPAC) called Avanti Acquisition Corp. Avanti started trading on the NYSE in the beginning of October. Sawiris single family office, NNS Group, invests together with Sienna Capital $100M on top of the amount raised on stock markets.

Rather broad investment focus for Sawiris SPAC

The NYSE-listed SPAC initiated by Nassef Sawiris and Ian Gallienne is targeting European family-owned companies with a valuation between $2-4BN. The sector focus lies on technology, health and consumer goods. SPACs are a new trend in the investment industry: alone this year, 118 SPACs raised through IPOs more than $44BN, according to Bloomberg. The recent transaction shows that SPACs are also a viable way of capital raising for family offices.

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The Italian biotech firm WISE Srl is working on implantable leads for neuromonitoring and brain-machine connections. Now, the company announced that it has raised €15M in its Series C. One of the investors is the Italian single family office of the Rossi Luciani family.

WISE: Medical device company working on implantable leads

WISE is a biotech company based in Milan and Berlin working on implantable Neuromodulation and Neuromonitoring leads. Through WISE’s WCS electrode, intraoperative neuromonitoring is enabled. The now-raised funds are used to develop a novel product the SCS EXPERT. Through SCS, a implantable multi-column paddle lead, Spinal Cord Stimulation (SCS) gets possible. Thereby, chronic pain can be treated. More than 328 million people suffer from chronic pain globally. WISE’s approach offers a treatment way apart from the usually prescribed drugs.

$15M Series C Financing Round: Italian Rossi Luciani Single Family Office (New Frontiers srl) as investor

Many new and existing investors participated in WISE’s recent funding round. New investors include CDP Venture Capital, Indaco Ventures as well as EUREKA! Venture. Also, the European Commision granted the company €2.3M earlier this year. Amongst the existing investors is New Frontier srl, which is an investment vehicle of the Rossi Luciani family office. New Frontier is focused on startups, especially in the biotech sphere. The Rossi Luciani family is the majority shareholder of listed electrical device company Carel Industries SpA.

Source: Streetinsider
Picture source: Josh Riemer

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The Hamburg-based single family office Peter Möhrle Holding acquires a stake of bc GmbH & Co.KG, a bicycle e-commerce company as part of its buy-and-build strategy.

Major German e-commerce bicycle retailer: bc GmbH & Co. KG

Bicycle retailer bc GmbH & Co. KG is based in Aachen and was founded in 1997. The company was a first-mover in the bicycle e-commerce segment. Today, the company has more than 190 employees and operates a modern logistics hub with more than 23,000 sqm storage space. The German bicycle retailer offers more than 70,000 products from 300 brands. Also, bc is operating profitably: in 2018, the net income amounted to €0.85M.

Hamburg-based Möhrle Single Family Office as private equity investor

The wealth of the Möhrle family is based on DIY store chain Max Bahr. The Peter Möhrle single family office invests in private equity and real estate. Also, the “Peter Möhrle Foundation” is connected to the family office. bc is not Möhrle’s first investment in the bicycle industry: in 2014, the family office invested in distributor Grofa Action Sports GmbH.

Source: Presseportal
Picture source: Tiffany Nutt

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