Dorrance and Crown Single Family Offices Invest In Venture Builder

Dorrance and Crown Single Family Offices Invest In Venture Builder

Coplex is a Phoenix-based venture builder who assembles teams and empowers them to get “high-growth tech companies”. The venture builder is active in healthcare, financial services, retail and media & entertainment. The venture builder has, so far, launched more than 300 companies with an aggregate value of $4.5B. The portfolio companies have raised more than §1.5B in funding. In June 2019, the venture builder announced a $2.5M seed funding led by two single family offices: DFE and AZ Crown. DFE is the SFO of Campbell Soup billionaire Bennett Dorrance, AZ Crown belongs to Tim and Eric Crown, the founders of Insight Enterprises. If you’re looking for more single family offices in the U.S. you should check our list of single family offices in the United States.

Coplex: Successful venture building in Phoenix

At the center of Coplex activities is the so-called “Coplex Lean Process” which should help to “rapidly de-risk new business models, drive revenue and turn concepts into investable enterprises”. Within its ecosystem, Coplex brings together entrepreneurs, venture capital investors, mentors and corporates. Mentors include Jaima Casap (education evangelist at Google) or Yaniva Masjedi (CMO of Nextiva). The venture builder aims to make concepts ready for further investments within 9 months. Many successful companies are in Coplex’s portfolio like ZipSit, PlutoTV, Qwick or happyhired.

Dorrance and Crown Single Family Office Investment For Further Growth

The $2.5M equity financing is led by DFE (Dorrance SFO) and AZ Crown (Crown SFO). Further investors include Ilya Pozin, Berke Bakay, Gregg Larson and Kal Somani. Pozin is the founder of Pluto TV, a Coplex alumni which was sold to Viacom for $340M. Bakay is the founder of BBS capital. Larson is a real estate tech professional who sold his company Careity to CoreLogic. Somani is an angel investor. Through the funding round, more than 60 new ventures will be launched in 2019. Furthermore, the Phoenix venture builder will create a dedicated program for enterprises.

Picture source: Austin Distel

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