PharmEnable is a drug discovery startup from Cambridge that is focused on finding complex candidate molecules for drug development. Now, the startup raised its seed financing round. The funding round was heavily oversubscribed. One of the ivnestors: Paul Forster, the co-founder of Indeed.com. Other investors include Cambridge Enterprise (who led the round), Jonathan Milner or David Ford. PharmEnables technology predict small molecules that might be suitable for various disease areas. Dr Christine Martin of Cambridge Enterprise commented the investment with: “Cambridge Enterprise is really pleased to be investing in this exciting opportunity. To have closed the round during these last few months, and to have attracted such a strong investor syndicate, is a testament to the potential of the AI-enabled platform that PharmEnable has built. We are pleased to support the company in its transition to in-house drug discovery. We believe it will have significant impact through addressing undruggable therapeutic targets.”

Paul Forster Family Office as angel investor

Paul Forster launched Indeed in 2004. The portal was acquired by Recruit Holdings in 2012. Since then, Forster (and his family office) is an active startups investors. His investments are mainly focused on the tech space. Portfolio companies include Personio, Sano Genetics or Speechmatics.

Source: Cambridgenetwork, 30.06.2020
Picture Source: Jean-Luc Benazet

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Black Horse Investments GmbH, a single family office from Düsseldorf, acquired the “KAP 2 / New Fashion Plaza” office building (also in Düsseldorf) from Hadar GmbH in a joint-venture.

“New Fashion Plaza” office building in Düsseldorf

The “New Fashion Plaza” is an office building created in 1974 and refurbished in 2009. The property has an occupancy rate of 75% and a total lettable area in the amount of 6,400 sqm. Today, the building is mainly used as a retail shipping center. The building is located at the Kennedydamm, only a few minutes from the well-known Rheinpark. Real estate firm BGA Invest connected seller and buyer of the object. The “New Fashion Plaza” was sold by Berlin-based Hadar GmbH.

Joint-venture of real estate investor and single family office from Düsseldorf

A joint-venture of Kriton Immobilien GmbH and Black Horse Investments is buying the office building. The joint-venture wants to refurbish and restructure the building. For instance, a multi-tenant will be made possible. Black Horse Investments is the single family office of the Düsseldorf-based Schwarz-Schütte family. The family office is also owning the well-known Dreischeibenhaus. Patrick Schwarz-Schütte led the pharmaceutical company “Schwarz Pharma” to an IPO in 1995. He finally sold his shares to Belgian chemical company UCB for €2.6BN.

Picture source: Diri
Source: Konii, 30.06.2020

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Aurum, the single family office of Isareli billionaire Morris Kahn, sold half of its stake in the Beit Aurec project to Harel Insurance Investments and Financial Services for NIS 100M (€25M).

Beit Aurec Real Estate in Tel Aviv

Beit Aurec is a 16,000 sqm property of office and commercial space in Tel Aviv’s Abba Hillel Street. The building has a high 98% occupancy rate, its anchor tenant is the Metier Liquornik law firm. The Morris Kahn family office previously held a 80% stake in Beit Aurec. Now, Harel acquired half of it for NIS 100 (€25M) and now holds 40% of the building. The remaining 20% of Beit Aurec are held by private investors.

Morris Kahn Single Family Office

Morris Kahn is one of the most known billionaires from Israel. He launched Amdocs in 1982 as part of the Aurec group – which is know a billion dollar stock-listed software firm. Today, his family office is active in real estate, venture capital and capital markets.

Picture Source: Shai Pal
Source: Globes, 29.06.2020

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Dresden-based robotics startup Wandelbots closed its €26M Series B financing round. One of the investors is the Haniel family office from Duisburg.

No-Code robotics for the industry

Wandelbots is working on „no code robotics solutions“. Through a so-called „Trace Pen“ and an intuitive app, customers can teach robots for their purposes without any required coding skills. The Wandelbots software platform works with several robotics programming languages and types of robots. Wandelbots enables customers to work with robots in just a few minutes – which decreases programming costs tenfold.

Market Launch supported by Series B – and Duisburg Family Office

Now, Wandelbots is working on the market launch of its „Trace Pen“. The concept convinced several investors: Microsoft’s venture capital firm M12 or the London-based venture capital fund 83 North. One of the German investors (besides Paua Ventures and EQT Ventures) is the Haniel Family Office from Duisburg. Daniel is a family equity company with more than €4BN in revenues and almost 20,000 employees. Wandelbots is one of the few startup investments of Handel; other investments include ELG, CWS or BekaertDeslee. The company is also holding 22.7% of German consumer electronics retail firm CECONOMY.

Picture Source: Franck V.
Source: Juve, 29.06.2020

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The UK Family Office Vitcorp develops a five-star apartment hotel in Germany’s banking center Frankfurt. The hotel will be operated by Cheval Collection, 2020 is targeted as the opening date.

Five Star Apartment Hotel Development in Frankfurt Sachsenhausen

Vitcorp develops the five-star hotel in Frankfurt Sachsenhausen. The new hotel is opposite the prestigious „Villa Kennedy Hotel“. The design of the new apartment hotel was developed by well-known German architect Eike Becker. Equipped with private balconies for all 181 apartments and cutting-edge design, the development can be considered as a landmark project. The Serviced Apartments will be operated by Cheval Collection. The new „Cheval Maison Frankfurt“ is the first project for the hotel operator in continental Europe.

Vitcorp Family Office active in Germany

Vitcorp Limited is a  „three-generation“ family office from London that is mainly active in property development. The latest focus is on property developments in Germany. Besides the Kennedy Alle project in Frankfurt, the family office also develops projects in Berlin (Greifswalder Strasse and Bergmann Strasse). German property developments of Vitcorp are realized through the German subsidiary SIC Properties GmbH.

Picture Source: Igor Flek
Source: Relocate, 29.06.2020

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The „House of Travel“ Group, Australia’s leading travel company, attracts two new long-term investors. One of them is the „Sinclair Investment Group“, the single family office of the Edgar family.

Strong Travel Brands in Australasia united in “House of Travel” Group

House of Travel was founded in 1986 in New Zealand and expanded to Australia in 2007. Since its humble beginnings, the company grew to one of the largest independent travel companies in the area. Turnovers in 2018 were at $1.8BN. Well-known brands of the House of Travel Group are TravelManagers Australia and Hoot Holidays.

New Australian Family Office Investor to Strengthen Balance Sheet

In order to fight COVID-19 uncertainties and to strengthen the financial resources of the company, House of Travel got two new equity investors: Tailorspace and the Sinclair Investment Group. Tailorspace is an investment management company founded by Ben Gough in 2007. The Sinclair Investment Group is the single family office of the Edgar Family, founded by Sir Eion and Lady Jan Edgar. The Edgar family office invests in businesses, as well as philanthropy, sports, and arts.

Picture Source: Dan Freeman
Source: TravelWeekly, 29.06.2020

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DERECO, one of Germany’s major real estate multi family offices, launches a property development project in Saarbrücken (Germany).

„Onetwoseven“ project: joint venture between property developer and family office

Together with real estate developer NORSK Deutschland AG, DERECO formed a joint venture in order to develop 204 student apartments in Saarbrücken. The building permit was granted and the construction will start soon. The project will be realized near the University Saarbrücken at the „Areal am Meerwiesentalweg“. The building will be equipped with a PV-installation which should intend the majority of the energy consumption of the building, also e-mobility charging stations are planned. The project was planned by the Saarbrücken-based architecture firm  BÄUERLE Architekten + Brandschutz.

Source: LifePr.de
Picture Source: Noah Boyer

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The Australian Sunshine Family Office acquired a 1,456sqm property in Rüthen (Germany). The transaction was organized by the German real estate investment firm DRIA GmbH, which manages the investment and asset management for various family offices. The property is rented to Centershop since 2018 and was sold by a Luxembourg-based company. The object also has 64 parking spots.

Sunshine Family Office restructures German real estate portfolio

German DRIA GmbH currently leads the restructuring of the real estate portfolio of the Australian Sunshine Family Office. Two automotive objects in Aurach and Cottbus were sold, a retail object in Halberstadt was acquired.

Source: DRIA
Picture Source: Mike Petrucci

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Mid-Con Energy Partners (NASDAQ: MCEP) successfully managed its recapitalization. The holders of Mid-Con’s Class A and B units agreed to convert their preferred shares to to common shares at an average price of $3.12. The Texas-based single family office Goff Capital now holds a majority of outstanding shares. Through the transaction, the capital structure of the firm is simplified and corporate governance is strengthened through a new Board of Directors. Mid-Con is an upstream oil and natural gas company which operates assets in Wyoming and Oklahoma – which struggles with the tumbling oil prices.

Goff Capital: Single Family Office from Forth Worth

The new majority shareholder of Mid-Con’s shares is Goff Capital, the Forth Worth-based family office of John Goff. Goff invests in private and public markets. Amongst other, the focus of Goff Capital lies on oil and gas companies. Furthermore, the family office is also active in manufacturing and entertainment.

Source: Oilandgas360
Picture source: Zbynek Burival

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German real estate investor Commodus acquired a Mixed-Use building in Berlin from an unknown family office. The “Hohenschönhauser Tor” building with office and retail space is located at Weißenseer Weg 35 and has a lettable area of 19.000 sqm. Amongst others, the tenants include a gym, senior housing and medical practices. The Weighted Average Lease Term (WALT) amounts 7 years. Realtor firm Lührmann was serving as a broker for the transaction. The family office sold the property through an asset deal.

Source: Immobilienmanager.de
Picture source: Dimitry Anikin

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