Canada with its thriving economy supports the formation and transaction processes in businesses of all the country’s different key industries: agriculture, energy, technology, services and manufacturing. Direct access to ports and the commitment to public transport form an innovative, green and progressive business climate. Given these conditions and the fact that investments in the fields of traditional capital markets are becoming riskier every day during the recent crisis, single family offices, the private investment companies associated with the richest and wealthiest individuals, are focusing on private equity investments to balance their portfolios. As part of our database of the largest single family offices in Canada, we want to present you three Canadian single family offices, that pursue private equity investments.

The mentioned family offices are all part of our list of the largest single family offices in Canada

  • 30 entries, thereof 20 with general e-mail address, 26 with executive names
  • Investment focus: Real Estate, Venture Capital, Private Equity, Financial Products, Renewables
  • 23 columns included: name, family name, estimated family wealth, detailed investment focus and exemplary investments, address, phone, e-mail, website…
  • Free updates within one year included, secure payment through PayPal or Credit Card, 24/7 support through live chat and mail

#1: Tricor Pacific Capital

Vancouver-based and established in 1996, the company’s original goal was to carry out private equity transactions, using the owner family’s, as well as institutional funds to invest in middle-market companies across North America. Until today, Tricor Pacific Capital has evolved into a single family office that solely invests its own capital. Under the direction of Rod Senft, the investment company managed four separate funds with a total committed capital of $1.2 billion, focusing on real estate and private equity. Preferred industries are real estate, food, industrial and transportation with a strong focus on middle market companies. Tricor Pacific Capital, for example, is invested in Dinoflex, a leading innovator in the manufacturing of recycled rubber products and specialist in producing premium quality rubber flooring, surfaces, tiles and custom products. Rockmount Research and Alloys is another exemplary private equity investment of Tricor Pacific Capital. The industrial company is a leading supplier of high-quality repair and maintenance welding alloys specifically designed to weld stronger and last longer.

#2: Hedgewood

Hedgewood Inc. serves as the private investment firm of the the co-founder and past Chairman & CEO of WebHosting.com and InQuent Technologies: Jesse Rasch. In addition to WebHosting.com and InQuent Technologies Jesse Rasch also co-founded CareGuide. Hedgewood Inc. was founded in 2000 and is headquartered in Toronto. InQuent provides private label hosting solutions to telecommunications customers. WebHosting.Com was one of the largest business web hosting companies in the world. In 2000, Rasch sold InQuent and WebHosting.Com to AT&T. As a global thinking investor, Hedgewodd Inc. focuses not only on transactions in Canada and the United States, but also seeks for global investments. Besides private equity, investments are made in venture capital, capital markets, lending and real estate.

#3: Marin Investments Limited

Vancouver-based Marin Investments engages as the private investment vehicle of the Young Family and was established in 1952. Since 1982, Charles Young, graduate of Stanford and Harvard Business School, leads the investment firm. Marin Investments Limited back then started investing with a major controlling interest in Finning Tractor and Equipment, the largest Caterpillar distributor worldwide. It didn’t take long and the firm expanded its investment activities to real estate, private equity and stock markets. Tantalus is part of Marin’s private equity portfolio and delivers measurable and meaningful operational savings through their multi-purpose Smart Grid solutions platform for Advanced Metering, Demand Management, Distribution Automation and Grid Optimization. Another investment is prepac, a successful North American designer, manufacturer and drop shipper of functional and stylish RTA (Ready-To-Assemble) home furniture.

Picture source: Aditya Chinchure

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The current low interest rate environment is putting savers and, in general, people who want to use their assets profitably, in an unfavorable situation. Therefore, investments in the field of venture capital are becoming more and more interesting due to the situation mentioned above. Especially in the thriving economy of Canada, where the number of wealthy people and investors is increasing constantly, this particular form of investment is becoming more and more important. Normally, traditional banks don’t provide this form of capital because of the risks associated with it. This leads to startups approaching so called “Business Angels” and other venture capitalists (or sometimes venture capital funds) when they’re in the earlier stages of business. With this article we want to present you three venture capital focused single family offices from Canada as part of our list of the largest single family offices in Canada.

The mentioned family offices are all part of our list of the largest single family offices in Canada

  • 30 entries, thereof 20 with general e-mail address, 26 with executive names
  • Investment focus: Real Estate, Venture Capital, Private Equity, Financial Products, Renewables
  • 23 columns included: name, family name, estimated family wealth, detailed investment focus and exemplary investments, address, phone, e-mail, website…
  • Free updates within one year included, secure payment through PayPal or Credit Card, 24/7 support through live chat and mail

#1: Hedgewood

Hedgewood Inc. serves as the private investment vehicle of Jesse Rasch. It was founded in 2000 and has its headquarters in Toronto. Jesse Rasch is a successful entrepreneur in the software industry. He is the co-founder and past Chairman & CEO of WebHosting.com and InQuent Technologies. Furthermore, he co-founded CareGuide. InQuent provides private label hosting solutions to telecommunications customers. WebHosting.Com was one of the largest business web hosting companies in the world. In 2000, Rasch sold InQuent and WebHosting.Com to AT&T. As a globally minded investor, Hedgewood actively pursues and engages in a wide variety of investment opportunities in Canada, the United States, and internationally. Besides of venture capital, the investment firm focuses also on private equity, capital markets, lending and real estate. The venture capital focus lies on consumer & enterprise tech, health care and food/cpg. Bench is an exemplary excerpt of the portfolio. The company provides an online bookkeeping service that delivers tax-ready financial statements from professional accountants and allows you to access a simple, elegant software to review your finances.

#2: Thomvest

The Toronto-based investment company takes care of the financial security needs of Peter J. Thomson and his family. The former rally car driver is now active as a Business Angel and built up an impressive net worth of over $6 billion, with which he’s backing Thomvest. The company was established in 1996 and is split into three divisions: Thomvest Ventures, Thomvest Asset Management & Thomvest Properties. In addition to private equity and real estate investments, which are proceeded through Thomvest Asset Management and Thomvest Properties, the firm focuses on venture capital through Thomvest Ventures, an evergreen cross-stage venture capital fund based in San Francisco. Since its inception in 1996, Thomvest Ventures has invested over $500 million in more than 50 technology companies and prefers to invest in the fields of finance, real estate, security, infrastructure, sales and marketing. With Zendrive, Thomvest backed a start-up that leverages mobile sensor data to provide actionable insights that improve safety for passengers and drivers worldwide and that could be useful in pricing insurance tariffs.

#3: Otimo Retail

Otimo Retail, based in Montreal, acts as the private investment arm of Howard Stotland, Matthew Stotland, and David Henning and provides capital, as well as strategic and operational guidance to small and mid-sized technology providers who develop, market and sell software solutions to retail organizations. The firm offers a network of retail technology companies for partnership and business development opportunities and claims to be able to introduce business partners to appropriate C-level executives at Fortune 500 retailers. For example, Logiwa is a current venture capital investment at Otimo Retail. Logiwa is a cloud warehouse and inventory management software that meets the warehouse management and order fulfillment needs of retail and e-commerce businesses worldwide.

Picture source: Scott Webb

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Real estate: One of the few, if not the only, asset class that did not lose value during the Corona pandemic, but rather increased in value as usual. It is therefore less surprising that real estate will continue to be one of the most important asset classes. Especially in Canada’s metropolitan areas (Toronto, Montreal & Vancouver) real estate and rental prices are literally exploding. For example, in Toronto the average market rent for a usual 2-bedroom apartment in 2019 amounts to almost $2700, in Vancouver rental prices are even higher (around $3000 for a 2-bedroom apartment). For these reasons, single family offices, the private investment companies of wealthy private individuals, all tend to focus, at least in part, on real estate. With this article we want to present you 3 single family office in Canada, that invest in real estate. These single family offices are also featured in our recently created database of the largest Canadian single family offices.

The mentioned family offices are all part of our list of the largest single family offices in Canada

  • 30 entries, thereof 20 with general e-mail address, 26 with executive names
  • Investment focus: Real Estate, Venture Capital, Private Equity, Financial Products, Renewables
  • 23 columns included: name, family name, estimated family wealth, detailed investment focus and exemplary investments, address, phone, e-mail, website…
  • Free updates within one year included, secure payment through PayPal or Credit Card, 24/7 support through live chat and mail

#1: Tricor Pacific Capital

The Canadian single family office Tricor Pacific Capital doesn’t disclose who the family is that solely invests its own money and operates the firm from the “background”. But it is known, that the investment firm first was founded in order to carry out private equity transactions, using the family’s, as well as institutional funds to invest in middle-market companies across North America. Under the direction of Rod Senft, Tricor Pacific Capital managed four separate funds with a total committed capital of $1.2 billion. Until today, Tricor Pacific Capital has evolved into a single family office that only invests its own capital, focusing on real estate and private equity transactions. In terms of real estate, the firm focuses on commercial and residential properties and holds, for example, a portfolio of purpose-built, industrial, single-tenant real estate and highly seeks for industrial single tenant objects associated with their operating businesses or with other established businesses they can understand. Indirect real estate investments are proceeded through the Spira Equity Partners fund.

#2: Dancap Family Investment Office

The Dancap Family Investment Office addresses all the investment and financial needs of the Dan Family and was established in 2000. The Canadian businessman, producer and philanthropist Aubrey Dan, whose father, Leslie Dan, founded the generic pharmaceutical manufacturer Novopharm, has an estimated net worth of $1 billion and currently leads the single family office. The investment firm invests in both alternative and traditional asset classes such as private equity, real estate, private debt, hedge funds, and public equities. Even though the Family Office is Canadian-based, its investment portfolio is global, with a primary focus on opportunities in the United States. Dancap will allocate between 15% to 25% of its overall portfolio to Real Estate investments through third party funds, co-investments, and direct investments. Their Real Estate funds focus on many strategies including: Multifamily value-add, Office space, Seniors housing, Developments, Mixed-use, and Hospitality.  A co-investment property, for example, is “The Vibe at Gateway”, a complex of luxurious apartments in Saint Petersburg, Florida.

#3: Thomvest

Peter J. Thomson, a Canadian rally race car driver and venture capitalist, backs Thomvest with his estimated net worth of over $6 billion. Formed in 1996, the investment company is split up into three divisions: Thomvest Ventures, Thomvest Asset Management & Thomvest Properties. Through the last one, Thomson proceeds all his real estate related investment transactions. The real estate fund is based in Dallas and provides flexible terms and investment structures, without the limitations of a finite fund lifespan or numerous limited partners. In 2020, Thomvest Properties began acquiring a portfolio of NNN lease properties and it actively seeks investment opportunities with a purchase price of between $4 million and $15 million per property.

Picture source: Zia Syed

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Directly located at the Lake of Ontario, Toronto is, in terms of population, the largest city in Canada. In addition to hosting the banking and stock exchange center of Canada, the city functions as the country’s primary wholesale and distribution point. Ontario’s wealth of raw materials and hydroelectric power have made Toronto a primary center of industry with Finance, Media, Technology and Tourism being the key industries. Due to the facts, many high net worth individuals settled down here: Thomson Family, Rogers Family and Carlo Fidani, just to name a few. Usually these individuals own their own private investment companies. In our newly created database of Canadian family offices we identified the largest single family offices in Canada, of which, we want to introduce you three of these investment companies that have their headquarters located in Toronto.

The mentioned family offices are all part of our list of the largest single family offices in Canada

  • 30 entries, thereof 20 with general e-mail address, 26 with executive names
  • Investment focus: Real Estate, Venture Capital, Private Equity, Financial Products, Renewables
  • 23 columns included: name, family name, estimated family wealth, detailed investment focus and exemplary investments, address, phone, e-mail, website…
  • Free updates within one year included, secure payment through PayPal or Credit Card, 24/7 support through live chat and mail

#1: Thomvest

Thomvest is the investment management firm of Peter J. Thomson, a Canadian rally race car driver and a venture capitalist with an estimated net worth over $6 billion, and his family. The company was established in 1996 and is split into three divisions: Thomvest Ventures, Thomvest Asset Management & Thomvest Properties. As you can guess, the firm focuses on real estate and venture capital investments but also completes private equity transactions through funds. The venture capital investments are typically made in the areas of financial technology, marketing technology, cybersecurity, sales, and cloud infrastructure sectors in early and growth stages. The mortgage company LoanSnap is an exemplary investment and provides people with a clear view of their finances and shows them where they may be losing money every month.

#2: Dancap Family Investment Office

The Dancap Family Investment Office serves as the private investment arm of the Dan Family and was founded in 2000. Aubrey Dan, a Canadian businessman, philanthropist and a producer, whose net worth is estimated to be around $1 billion, currently leads the firm. His father, Leslie Dan, founded the generic pharmaceutical manufacturer Novopharm. The Dancap Family Office invests in both alternative and traditional asset classes such as private equity, real estate, private debt, hedge funds, and public equities. Even though the Family Office is Canadian-based, its investment portfolio is global, with a primary focus on opportunities in the United States. For example, the company owns parts of the Heights at 2121 in Houston, a luxury apartment community. EduNav, as part of the private equity portfolio, is an innovation leader in the higher-end software market. Their team brings experience in deep integration with core systems, with integrations with student information systems, learning management systems, and authentication authorities.

 

#3: Hedgewood

Hedgewood Inc., the private investment office of Jesse Rasch, was founded in 2000. Jesse Rasch is the co-founder and past Chairman & CEO of WebHosting.com and InQuent Technologies. Furthermore, he co-founded CareGuide. InQuent provides private label hosting solutions to telecommunications customers. WebHosting.Com was one of the largest business web hosting companies in the world. In 2000, Rasch sold InQuent and WebHosting.Com to AT&T. As a globally minded investor, Hedgewood actively pursues and engages in a wide variety of investment opportunities in Canada, the United States, and internationally. The firm engages in venture capital, private equity, capital markets, lending and real estate. Real estate investments focus on retail, office, residential, farmland and timberland. Their venture capital focus lies on consumer & enterprise tech, health care and food/cpg. Aobiome is an exemplary health care investment and pioneer in the application of commensal bacteria, with a transformative new platform technology and therapeutic and diagnostic approaches to the skin and the human microbiome.

Picture source: Conor Samuel

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Consistently ranked among the most liveable cities in the world, Vancouver offers many competitive advantages for firms. Natural beauty, direct access to beaches and ports and its commitment to public transport form a business climate which is innovative, progressive, green and approachable. Its diverse economy includes exciting growth in the green and technology sectors, as well as a rapidly expanding creative sector. This is especially true in technology, digital entertainment and interactive, and the green economy, as well as more traditional industries including tourism, forestry, mining, transportation and logistics. So it’s not a surprise that many of the private investment firms linked to the most wealthiest individuals, so called single family offices, are located in Vancouver. As part of our research database of the largest single family offices in Canada, we want to present you three family offices that have their headquarters in Vancouver.

The mentioned family offices are all part of our list of the largest single family offices in Canada

  • 30 entries, thereof 20 with general e-mail address, 26 with executive names
  • Investment focus: Real Estate, Venture Capital, Private Equity, Financial Products, Renewables
  • 23 columns included: name, family name, estimated family wealth, detailed investment focus and exemplary investments, address, phone, e-mail, website…
  • Free updates within one year included, secure payment through PayPal or Credit Card, 24/7 support through live chat and mail

#1: Wychwood Capital

Founded in 2008, the Wychwood Capital single family office supports the investment and trust activities of their family businesses already in the third generation and thrives to reduce overall correlation to major asset classes with its investments. The origin of the family business can be traced back to 1933, when the first generation founded a transportation company in Hong Kong. From the beginnings, the family expanded its interests to local and overseas property management, real estate development and diversified portfolio management. Today, the family office invests actively in venture capital & private equity transactions, focusing on the private growth & seed stages. Furthermore, investments in the traditional capital markets are made through hedge funds, futures and credit trades.

#2: Tricor Pacific Capital

The leading Canadian single family office actively invests the capital of its owner family. In 1996 the investment firm was founded in order to carry out private equity transactions, using the family’s, as well as institutional funds to invest in middle-market companies across North America. Under the direction of Rod Senft, Tricor Pacific Capital managed four separate funds with a total committed capital of $1.2 billion. Until today, Tricor Pacific Capital has evolved into a single family office that solely invests its own capital, focusing on real estate and private equity. In the field of real estate mainly transactions linked to commercial and residential properties are made. For example, Tricor owns a portfolio of purpose-built, industrial, single-tenant real estate. Private equity investments are mainly consisting of real estate, food, industrial and transportation businesses, with a strong focus on middle market companies. An exemplary investment is OCTS, a full-service container drayage and storage provider, including transloading and flat-deck trucking, who’s proud to be the first and last mile for some of the world’s most prominent steamship lines and freight forwarding companies. In addition, Tricor Pacific provides capital for some funds, e.g. for Parallel49 Equity and Spira Equity Partners.

#3: Marin Investments Limited

Marin Investments manages the private investment and wealth needs of the Young Family and was established in 1952. Since 1982 Marin Investments is led by Charles Young, graduate of Stanford and Harvard Business School. The investment activities of Marin all started with a controlling interest in Finning Tractor and Equipment, the largest Caterpillar distributor worldwide. Later on, the investment company expanded its activities to the private equity, real estate and stock markets. Exemplary investments in private equity are, for example, Tantalus and Kardium. Tantalus delivers measurable and meaningful operational savings through their multi-purpose Smart Grid solutions platform for Advanced Metering, Demand Management, Distribution Automation and Grid Optimization. Kardium is developing a revolutionary medical device for the diagnosis and treatment of atrial fibrillation.

Picture source: Mike Benna

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Cryptocurrencies at first seemed very attractive to people new to the investment scene: If you had invested $1000 in Bitcoin (the most famous cryptocurrency) at the beginning of 2011, you’d have $100M today. A massive increase in such a short time. Cryptocurrencies were at their all-time highs at the end of 2017. Many people got in during that time where the price of Bitcoin was around $18.000, sometimes they even sold their houses and belongings because predictions were positive. Just one year later the price had fallen down to $3000: they lost everything. Economists and financial experts state that the financial bubble related to cryptocurrencies had burst. Nevertheless, cryptocurrencies and its blockchain technology are still interesting to some of the most important investors out there: single family offices. We are introducing you to three interesting cryptocurrency-investing family offices from our extensive database of single family offices located in the United States with more than 350 entries.

Yeomans Capital, Austin

The Texas-based single family office, which is also featured in our list of single family offices in Texas, is one of the most active early-stage investors in the space of blockchain. The investment firm is owned by David A. Johnston. The startup advisor and technologist bought his first Bitcoins in 2012, where most of his fortune comes from. Just one year later he founded “BitAngels” with some friends, one of the world’s first and largest Angel networks to invest in the blockchain industry. Last year he established his single family office “Yeomans Capital”. The investment company seeks to invest in startups that deal with open source, user owned and tokenized blockchain technology. An exemplary portfolio investment is “Vertalo”. Vertalo is an investor onboarding, cap table, and compliance platform that connects issuers and investors directly to sources of secondary liquidity. Working directly with issuers, or through the growing network of broker-dealers, Vertalo enables any asset to be tokenized, stored in a blockchain wallet, and traded in real-time based on the smart contract between the issuer and the investor. Furthermore, Yeomans Capital holds “Ethereum” and “BitcoinCash” in its wallet.

Winklevoss Capital, New York

The investment vehicle of the Winklevoss Twins, Tyler and Cameron, was founded in 2012 and focuses mainly on early-stage venture capital investments. Targeted areas are internet technology, platforms, retail, fintechs and of course: cryptocurrencies. The Winklevoss brothers studied at Harvard and Oxford and are known to be famous entrepreneurs and venture capitalists. In 2004 they sued Mark Zuckerberg for stealing the idea for Facebook from “ConnectU”, a social network founded by the brothers. The lawsuit ended out of court with Zuckerberg paying $65 million to Tyler and Cameron. Another company founded by the twins is “Gemini”. The firm provides a next-generation cryptocurrency exchange platform and custodian that allows customers to buy, sell, and store digital assets. The single family office Winklevoss Capital, as part of our database of single family offices in New York, owns Ethereum and Bitcoin. A company, which the family office recently funded is “BlockFi”. The firm operates as a secured non-bank lender that offers USD loans to cryptoasset owners who collateralize the loan with their cryptoassets. Its products bring additional liquidity to the blockchain asset sector and meet the needs of both individuals and institutions holding blockchain assets.

Galaxy Investment Partners, New York

The single family office of Michael Novogratz focuses on digital assets and blockchain technology. A huge part of Novogratz’s fortune, who is a former hedge fund manager and partner at Goldman Sachs, is contributed to cryptocurrencies. He stated in 2017 that 20% of his net worth was due to investments in Bitcoin and Ethereum and that he has made $250 million from cryptos from 2016 to 2017. In 2018 he wanted to pursue his success and founded Galaxy Digital, a digital assets merchant bank, with distinct trading, asset management, and principal investment. Last year, Galaxy Investment Partners invested in “Flipside Crypto”. The company provides analytics and business intelligence to crypto organizations. With its analytics tools companies are able to obtain insights into user behaviors, developer activities and financial activities.

Sources:
Picture:
André François McKenzie
Blog:
winklevosscapital.com (02/14/2020)
yeomans.capital (02/14/2020)

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Where does the fortune of Carl Icahn come from?

Carl Icahn is an American businessman and investor. He is the founder and controlling shareholder of Icahn Enterprises, a conglomerate holding company based in New York City, formerly known as American Real Estate Partners. He is also Chairman of Federal-Mogul, an American developer, manufacturer and supplier of powertrain components and vehicle safety products. Icahn’s total net worth is estimated to be around 18 billion U.S. dollars.

How did the Icahn family business develop?

Icahn began his career on Wall Street as a stockbroker in 1961. In 1968, with $150,000 of his own money and an investment from his uncle, he formed Icahn & Co., a securities firm that focused on risk arbitrage and options trading. In 1978, he began taking controlling positions in individual companies. In 1987 he established Icahn Enterprises in New York City. The conglomerate holding company has investments in various industries including auto parts, energy, metals, rail cars, casinos, food packaging, real estate, and home fashion. Today the company employs over 2,000 people and generates more than 10 billion U.S. dollars in revenues.

Is there a Carl Icahn family office?

Yes, there is. The New York based single family office “Icahn Capital LP” engages in investing and managing all the assets of Carl Icahn. The investment firm is also part of his large holding company.

How does the Carl Icahn family office invest?

Icahn Capital LP operates highly secret so there’s almost nothing known about its investment activities. Nevertheless, we found out that Icahn is likely to invest with three vehicles: the 7 billion hedge fund, Icahn Partners, Icahn Enterprises, his public traded private equity firm, and ICAHN MANAGEMENT LP, a $2 billion hedge fund. He usually takes minority stakes in public companies and typically pushes for change.

This article is part of our detailed report “The single family offices of the richest US families“.

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Where does the fortune of Jim Simons come from?

Jim Simons is a mathematician and billionaire hedge fund manager. Known to be a quantitative investor, Simons founded “Renaissance Technologies” in 1982, a private hedge fund based in New York. If you’re looking for other single family offices of hedge fund billionaires check this article. Renaissance specializes in systematic trading using quantitative models derived from mathematical and statistical analyses. The firm is widely regarded as the “most secretive and successful” hedge fund of all time. Because of its massive success Simons has been described as one of the greatest investors in Wall Street. Today Simons net worth is estimated to be somewhere around 21 billion U.S. dollars, making him one of the richest people in the United States.

How did the Simons family business develop?

After receiving a bachelor’s degree in mathematics from the Massachusetts Institute of Technology and a PhD, also in mathematics, from the University of California, Jim Simons founded the American hedge fund “Renaissance Technologies” in New York in 1982. In 1988 Renaissance established its most famous and profitable portfolio, the Medallion fund, which used an improved and expanded form of Leonard Baum’s mathematical models improved by pioneering algebraist James Ax to explore correlations from which they could profit. The mathematical models the company developed worked better and better each year, and by 1988, Simons had decided to base the company’s trades entirely on the models. From 2001 through 2013, the fund’s worst year was a 21 percent gain, after subtracting fees. Medallion reaped a 98.2 percent gain in 2008, the year the Standard & Poor’s 500 Index lost 38.5 percent. Simons ran Renaissance until his retirement in late 2009. Today Renaissance has AUM around 70 billion U.S. dollars.

Is there a Jim Simons family office?

Yes. “Euclidean Capital”, based in New York, manages and invests all the assets belonging to Jim Simons.

How does the Jim Simons family office invest?

The single family office of Jim Simons focuses mainly on venture capital investments in the fields of life science, healthcare, artificial intelligence, internet technology, food and biotech. Last year, we reported about an investment made by Euclidean Capital: Peltarion, a Swedish AI-startup whose technology enables companies to use Artificial Intelligence. A more recent investment, made last month, is “Codagenix”. The company employs a proprietary technology platform for the construction of live attenuated viral vaccines for multiple targets.

This article is part of our detailed report “The single family offices of the richest US families“.

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Where does the fortune of the Lauder family come from?

The build-up of the Lauder Family’s fortune can be tracked back to 1946 when Esteé Lauder and her husband Joseph Lauder founded the now world leading cosmetics company “Esteé Lauder”. The firm is an American multinational manufacturer and marketer of prestige skincare, makeup, fragrance and hair care products. The company owns a diverse portfolio of brands, including MAC, Clinique and Bobbi Brown. The six family members that are still alive together own 40% of Esteé Lauder and have a total net worth of 23 billion U.S. dollars, making them one of the richest families in the United States.

How did the Lauder family business develop?

Estee Lauder got her start selling homemade skin creams to women in hair salons. After some time she founded the company “Esteé Lauder” together with her husband in 1946 in New York. They first carried only four products: Cleansing Oil, Skin Lotion, Super Rich All purpose Creme, and Creme Pack. Two years later they established their first department store in Manhattan. Over the next 15 years, they expanded the range and continued to sell their products in the United States. In 1960, the company started its first international account in London, the following year it opened an office in Hong Kong. In 1968 the company expanded again, opening Clinique, a dermatologist-guided allergy-tested, fragrance-free cosmetic brand. In 1998 Esteé Lauder acquired MAC Cosmetics. Today the cosmetic firm generates almost 15 billion dollars in revenues and employs more than 22,000 people worldwide.

Is there a Lauder family office?

Yes, there is. “Lauder Partners”, based in Menlo Park, California, serves as the private investment vehicle of Gary Lauder, the grandson of Esteé Lauder.

How does the Lauder family office invest?

The single family office “Lauder Partners” is mainly dedicated to early venture capital investments in American and Canadian companies, but its target region is definitely the Silicon Valley area. Preferred industries are information technologies, life science, internet technology, food and transportation. An exemplary investment, made last month, is “SpinLaunch”. SpinLaunch is a stealth space catapult startup that aims to create a much cheaper and sustainable way to get things like satellites from earth into space without chemical propellant. Using a catapult would sidestep the heavy fuel and expensive booster rockets used by companies like SpaceX and Blue Origin. The company plans to use a centrifuge spinning at an incredible rate inside a vacuum that reduces friction. All that momentum is then harnessed to catapult a payload into space at speeds one source said could be around 3000 miles per hour.

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Picture source: Jamie Street

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Adarza BioSystems is a biotech startup from St. Louis that is working on an automated biological testing platform. Now, the startup received a $25M Series D funding round. One of the main investors is the also St. Louis-based single family office Lightchain Capital LLC.

Developing automated biological testing platforms

Since its launch in 2008, Adarza has developed an innovative biosensor assays and instruments for pharma companies and research purposes. Through Adarza’s solution, customers can analyze fluid sambles without difficulat proccesing steps. Thereby, the analysis through Adarza’s platform is faster and easier than usual procedures – and can add significant value to pharma companies. Through the now raised funds, the company wants to support the full commercialization of its platform (called ZIVA). In 2018, the company moved to a new facility in the Pageview Business Center in St. Louis West Country suburb Maryland Heights.

St. Louis Single Family Office Lightchain Capital LLC

The recent $25M funding round was announced on Feb 4, 2020. Venture capital firm 3×5 Partners led the round together with Lightchain Capital LLC, the single family office of Rodger Riney. Rodger Riney is the founder of Scottrade. His net worth is estimated at $3.6BN,his single family office lightchain actively invests in biotech startups. The total funding until today raised through the round to $54M.

Sources
Adarza BioSystems, 5.02.2020
Tuce, 5.02.2020

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