Founded by Alan Merriman, Elkstone Partners is one of the few important venture capital multi family offices from Europe. In this article, we want to focus on the investment strategy and notable deals of Elkstone Partners.
Elkstone combines usual investment advisory with real estate financing and venture capital expertise
Like many other multi family offices from our extensive family office list, Elkstone is offering investment advisory and management services. The firm is regulated by the Irish Central Bank and MiFID. More interesting is Elkstone’s focus on real estate and venture capital deals. According to their website, Elkstone has already realized real estate transactions with a volume of more than €2B. The focus lies on the financing of high quality assets in prime locations in Ireland, as well as in the United States and Europe. For example, the Irish multi family office provided the British company Ziggurat with a loan to transform the former Montrose Hotel (Dublin) to a student accomodation. As a venture capitalist, Elkstone has already invested in 40 different startups.
From the acquired Dollar Shave Club to German startups and Irish breweries
Probably Elkstone’s most famous investment is the American Dollar Shave Club, which was acquired by Unilever for $1B. When we look at the rest of the portfolio, we’ll see an interesting mix: German fintechs, like Optiopay or smava, Irish startups like Solvotrin Therapeutics or the BRU craft beer brewery and high growth technology companies like Super Awesome or the US medtech HealthBeacon. While especially Dollar Shave Club and Super Awesome (now profitable and valued over $1B) were lucrative investments for Elkstone, others are doing less good. The German magazine deutsche startups reported that Optiopay has piled up huge amounts of debt, only realizing low revenues and failing to realize a new funding round.
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Picture source: Diogo Palhais
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