The UK startup Smarterly received a £7M Series A funding round. The round was led by the Major Oak Family Office.

Lifetime ISAs through payroll deduction

London-based Smarterly launched in 2017 in order to offer workplace saving plans through payroll deductions. Through Smarterly’s intuitive platform, employees can invest in lifetime ISA. Many major UK companies introduced Smarterly as employee benefit. Recently, Smartly also acquired the pension account firm Salvus. Smarterly now has 80,000 customers and more than £230M assets under management.

Major Oak family office as lead investor

The main part of the round (£5M) was contributed by the Major Oak family office, which has made with Smarterly its first larger investment.

Business Cloud, 21.05.2020
NeONBRAND (picture), 21.05.2020

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LA ROCA Capital, the single family office of insurance entrepreneur Kersten Jodexnis, is one of the investors of Gapless‘ most recent €5.5M funding round.

Blockchain-based all-in-one car app

Gapless is a German blockchain startup working on a blockchain-based all in one app for vehicles. Through Gapless’ app, users can get an overview of the history of their car. The app enables users to manage cars, to track costs and to get notifications for due maintenance works. Gapless was founded by Jan Karnath, Andreas Joebges and Malte Häusler in 2018 in Berlin. Legally, Gapless is a brand of the New Horizon GmbH.

Funding by the family office of Kersten Jodexnis and other investors

Now, Gapless received a €5.5M funding round to further accelerate its growth. Investors include luxury carmaker Porsche and LA ROCA Capital, the Jodexnis family office. The FinLab EOS VC Fund acts as the lead investor (a joint venture of FinLab and Block.One). Kersten Jodexnis is a German insurance entrepreneur who led the JODEXNIS Versicherungsmakler GmbH and is the majority shareholder of the Wertgarantie AG (more than 600 employees, 240 millions of yearly revenues). The LA ROCA family office is an active investor in the startup universe, investments include simplesurance, UniversalQuantum, or Mountain Partners. The Jodexnis family office also had various successful exits in the past, like JimDrive or Horse Analytics.

Dgap, 30.04.2020
Erik Mclean, 30.04.2020

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The German Dallmayr family office acquired a 3500 sqm office property in Obersendling, Munich. The building has four floors which can be used as office space, as well as space for manufacturing. Currently, the property is rented out to a printing company. The building at the Geretsrieder Straße 10 is located near the metro station Obersendling. In 2016, the building from 1983 was extensively renovated.

Dallmayr Single Family Office investing in German real estate

Thomas Gelb-Randlkofer, CEO of the Dallmayr Family Office TGR Immobilien Vermögensverwaltung, commented on the transaction with: “The building suits us perfectly. The building is well connected to public transit and offers plenty of space for different types of use.” TGR Immobilien Vermögensverwaltung is the family office of the Randlkofer and Wille families, whose fortune developed from Alois Dallmayr’s coffee empire. TGR is exclusively investing in German real estate with a focus on properties in Munich.

Deal-Magazin, 13.04.2020
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Deutsches Milchkontor GmbH (DMK) is one of Germany’s largest dairy companies. Now, the Zeven-based firm sold its subsidiary Sanotact GmbH to Flotte Holding GmbH, an investment vehicle of the Piëch-Nordhoff family.

Sanotact: Supplements Producer based in Münster (Germany)

Sanotact was a brand and subsidiary of the DMK Group. DMK is a leading German dairy company with 7,700 employees and more than €5.6BN in revenues. In the future, DMK wants to focus on its dairy products. As a consequence, DMK sold its supplement producer Sanotact GmbH. Sanotact has its headquarters in Münster and employs almost 200 people. The product portfolio consists of three pillars: supplements, dextrose and breath freshener. The purchase price of Sanotact remains undisclosed, the new owner takes over all employees.

New private equity family office of Piëch-Nordhoff family

The Piëch-Nordhoff family belongs to the Porsche family, who owns large parts of the world’s largest car manufacturer Volkswagen. Now, the family builds up a private equity family office through the Flotte Holding GmbH investment vehicle. The holding focuses on sustainable companies.

TopAgrar, 08.04.2020
Michele Blackwell (Picture), 08.04.2020

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Seattle-based yogurt brand Ellenos received an investment from Daniel Lubetzky’s single family office Equilibra Partners Management. Lubetzky is an American billionaire, mainly known for founding the popular snack brand Kind LLC.

Ellenos: Seattle-based yogurt manufacturer

Ellenos was launched by the Klein and Apostolopoulos families in 2013. The Seattle-based firm started as a scooped yogurt bar in Pike Place Market. Since 2016, the brand launched selling its yogurt in retail grocery stores. Ellenos developed to one of the fastest-growing yogurt brands. At the core of Ellenos is the family’s secret recipe which is based on a proprietary five-day process and the use of blended yogurt cultures.

Lubetzky Single Family Office as second private equity investor

Now, Ellenos’ received its second private equity financing through Daniel Lubetzky’s family office Equilibra Partners Management. In 2018, the LA-based private equity fund Monogram Capital Partners already invested in Ellenos. Lubetzky is an industry professional as well: In 2004, he founded the snack bar company KIND LLC. KIND reached sales in the amount of $1M already in the first year of operations. In 2008, KIND (like Ellenos) received an investment from private equity firm VMG Partners. In 2014, the company already sold more than 450 million snack bars. Forbes values Lubetzky’s stake in KIND at $1.5BN. Lubetzky’s private equity focused family office is an experienced investor in the food sector. Another investment of Equilibra is Justin’s (almond butter) which was sold to Hormel for $286M.

Wikipedia, 29.02.2020
Yahoo Finance, 29.02.2020

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Agrando is a Munich-based startup that works on a digital trade platform for farmers. Now, the German startup raised a seed round from various investors. Amongst them: the London-based family office JLR Star. Agrando was launched in 2017 by Jonathan Bernwieser and Jonas Hueber. Through Agrando’s platform, farmers can compare offers and document orders. Thereby, the startup helps to digitalize and optimize sales and processes of agricultural companies. Also distributors are part of the target group, who are enabled to enhance customer loyalty and increase their revenues.

London Family Office Invests Besides Venture Capital Fund

The recent seven-digit seed financing round is led by venture capital firms June and Baltic Venture as well as the London-based family office JLR Star. The June Fund is a global technology investor “backed by leading industrial minds” which invests across all stages. Baltic Venture is a rather unknown AgTech investor. Other investments of June include Wefarm, Dapper Labs, Grover and SimScale. WeFarm is also an Agtech (startup in the agricultural industry), working on farmer-to-farmer digital networks. JLR Star is a London-based family office of two financial services entrepreneurs. With an agnostic sector focus, the family office invests in seed and early-stage startups with typical investment sizes from 50,000-250,000 GBP.

Munich Startup, 24.02.2020
Agrando, 24.02.2020
Max Böttinger (picture), 24.02.2020

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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.

André François McKenzie
Blog: (02/14/2020) (02/14/2020)

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Global warming, climate change and Greta Thunberg: Right now there’s nothing more frequently addressed in daily newspapers than the world and its environmental degradation. The melting of polar ice caps and forest fires in Australia are only some of the side effects. To concern the global changes it is important to initiate a shift from traditional sources of energy to more environmentally friendly sources: renewable energies. Wind, wave and solar power are favorable sources of energy that do not harm our earth. In the recent past family offices also have recognized the importance of this topic and made investments regarding renewable energies. We want to provide you a short overview of five single family offices, that invest in companies or projects that focus on renewable energies. All of them are part of our massive database of more than 350 single family offices located in the United States.

#1: Capricorn Investment Group, New York

The family office, based in New York, serves as the personal investment arm of Jeff Skoll, who co-founded eBay and has an estimated net worth of almost 5 billion U.S. dollars today. Capricorn Investment Group seeks to deliver extraordinary investment results by leveraging market forces to scale solutions to global problems, such as global warming. Besides of renewable energy investments, the firm is active in real estate and proceeds almost all of its investments through funds. Their current portfolio includes the startup “Form Energy”. Form Energy is developing a new class of ultra low cost, long duration energy storage systems to make renewable energy available even when the sun sets, or the wind stops blowing. Form’s technology has the potential to transform the electric grid by making renewable energy dispatchable year-round.

#2: Zoma Capital, Denver

Zoma Capital is run by Lucy and Ben Walton, the grandson of Walmart founder Sam Walton. ZOMA Capital invests in a broad range of market-based sustainable solutions advancing energy, water, and regional economic resiliency in Chile and Colorado. Its global investment portfolio spans multiple asset classes and sectors with an emphasis on addressing environmental and social challenges. One recent investment in the fields of renewable energies is “AMP Solar Group”. The Group builds, owns and operates clean energy assets both behind and in front of the meter. Its solutions allow them to provide dispatchable, affordable and resilient clean power to enhance system reliability and security for customers and the grid.

#3: ARB Inc, West Conshohocken

The family office is based in West Conshohocken, Pennsylvania, and is led by Harry Halloran, CEO of the American Refining Group, who served at the board of The American Wind Energy Association. The relatively small investment company holds and manages a portfolio of operating wind assets as well as private company, private equity fund and project equity investments. The Halloran family invests in climate change driven sectors including renewable energy technologies and services, water technologies and services, waste to value, energy efficiency, biomass and biofuels, and sustainable agriculture. Current investments are, for example, “Cool Planet Energy Systems” and “Frontier Wind”. Cool Planet is developing a technology to convert non-food biomass into green fuels that are chemically identical to fossil fuels. Frontier Wind designs and sells technologies for modern utility scale wind turbines including proprietary wind speed sensing, bat avoidance and active load management.

#4: The Husseini Group, Beverly Hills

The group, located in Beverly Hills, serves as the personal single family office of Ibrahim AlHusseini, a serial entrepreneur and impact investor. He is dedicated to addressing the growing global waste crisis and is the founder and CEO of FullCycle. The family office invests in growth companies that embrace social enhancement and ecological sustainability. To date, AlHusseini has raised half a billion dollars in impact-focused capital. An exemplary investment is “Bloom Energy”. Bloom Energy offers on-site power generation systems that utilize an innovative new fuel cell technology with roots in NASA’s Mars program. Derived from a common sand-like powder, and leveraging breakthrough advances in materials science, this technology is able to produce clean, reliable, affordable power, practically anywhere, from a wide range of renewable or traditional fuels.

#5: Keller Enterprises, Charlottesville

Keller Enterprises, another small single family office based in Charlottesville, Virginia, was founded by Caroline “Polly” Keller in 1998. She had the vision that it could be a company cooperatively, imaginatively and productively run by subsequent generations of the Keller Family. The firm combines venture investing, venture philanthropy and venture farming and operates the “Inglewood Farm” in Central Louisiana. Keller Enterprises’ investments focus mainly on energy, agriculture and real estate. One major investment is “Apex Clean Energy”. With its diversified portfolio of wind energy facilities in development around the country and its solar PV assets, the company has become one of the fastest-growing companies in the industry since its founding in 2009. The company’s management team comprises experts from throughout the industry whose collective prior experience includes the development, financing, construction and operation of over $10 billion in wind and solar energy facilities now operating in the United States.

American Public Power Association
Blog: (05/24/2020) (05/24/2020) (05/24/2020)

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Concerto HealthAI just raised a large $150M Series B funding round. The lead investor was David Rubenstein’s New York-based single family office Declaration Partners.

Leader for oncology AI-based technology

The US startup with offices in Boston, memphis, New York, Philadelphia and Bangalore (India) is the global leader for AI based precision oncology solutions. One of the main products of the startup is eurekaHealth: a real world data environment that supports clinical development of new drugs as well as post-approval analyses. There is a huge demand for Concerto’s products: more and more partners are onboarding, year-over-year growth is around 90 percent, 19 out of 25 largest biopharma companies are customers.

Rubenstein single family office as major investor

Andrew Goldfarb, a partner at Declaration Partners, commented the $150M Series B deal with: “We are impressed with Concerto HealthAI’s innovative culture, technology leadership, and significant runway for growth.” Other investors in the round were Maverick Ventures, Alliance Bernstein PCI and SymphonyAI Group. Declaration Partners is the single family office of David Rubenstein, the co-founder private equity investor Carlyle Group. The family office of the American investor with an estimated net worth of $2B is one of the most active US venture capital single family office investors. Other investments include Bright Health, Ever/Body, Amperity or WorkFusion. Declaration Partners is mainly investing in later stage rounds.

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PRWeb, 16.1.2020
Benjamín Gremler, 16.1.2020

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BioProtect is an Israel-based medtech startup that is working on a spacer balloon that helps radiotherapy and oncological procedures. Now, the startup raised a $13M Series D. One of the investors is the single family office of Vincent Tchenguiz.

Innovative technology against rectal toxicity

BioProtect initially developed a technology to produce biodegradable balloons – which can be used in various clinical applications. One main use case of BioProtect’s spacer balloon is the protection of healthy tissue for patients who receive prostate radiotherapy. BioProtect’s balloons are made of bioresorbable polymer. Through the biodegradable design, the balloon disappears within six months. Thereby, there is no need for additional surgical procedures. BioProtect is led by CEO Gil Rosen and Co-Founder and CTO Shaul Shohat. Shohat already had two successful exits in the medtech space.

$13M Series D Equity Financing from various investors

In total, BioProtect raised $13M with its recent Series D. Investors include the Korean firm KB Investments, VC Accelmed Ventures II and the single family office of Vincent Tchenguiz. Tchenguiz is an Iranian-British entrepreneur who has an estimated net worth of 850M GBP. The Tchenguiz family mainly earnt their wealth through the establishment of the Rotch Property Group. The family office is an active investor in European (and especially Israeli) tech firms. He was the largest shareholder of Cambridge Analytica and one of the investors in defense technology startup eViglio.

MedicalDevice Network, 16.1.2019
LinkedIn (Picture), 16.1.2019

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