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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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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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.

Sources
Dgap, 30.04.2020
Erik Mclean, 30.04.2020

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Inpera is a Berlin-based Software-as-a-Service (SaaS) startup working on automated sourcing solutions for the building industry. Now, Inpera received a Seed-II investment round for the further development of its product. One of the investors is the German family office Eisbaer Capital.

Software for sourcing in the building industry

The startup from Berlin simplifies the tendering and procurement process in the building industry. Through Inpera’s cloud solution, procurement requests can be easily sent and transparently compared. The whole procurement process of materials and services moves from Excel sheets to the cloud. Inpera is listed on Builtworlds ConTech GlobalTop 100 Map.

Family office invests in Seed-II round

The Berlin-based startup managed to convince several experienced investors from the industry for its Seed-II round: proptech focused venture capital fund PropTech1 Ventures, Vito ONE, an investment vehicle of the building conglomerate Martin Meier, Alexcander Meier (the former Commercial Director of Holcim) – and the German family office Eisbaer Capital.

Sources
PropTech1 Ventures, 08.04.2020
Jonas Tebbe, 08.04.2020

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This week, European venture capital firm Lakestar announced the closing of its most recent fund. The fund now officially closed with a size of  $735M. One of the investors is – allegedly – the single family office of Chinese billionaire Jack Ma.

Lakestar as leading European venture capital investor

Lakestar was founded by Klaus Hommels in 2012. The venture capital firm is one of the most successful European startup investors. Hommels was an early backer of tech firms like Facebook or Skype. Investments of Lakestar include Spotify, Oscar, GetYourGuide or SoFi. Through the new fund, Lakestar is gearing up for the heavily increasing volumes of funding rounds in Europe. A third of the fund will be invested in early-stage ventures, the rest in later rounds of growing startups.

Jack Ma Family Office as an investor in venture capital funds

The largest part of the $735M fund is contributed by Singapore’s national investment fund Temasek. Allegedly, other major investors include the European Investment Fund, German chemical company Henkel and Jack Ma’s family office.  Jack Ma is the founder and former CEO of Alibaba, one of the world’s most successful internet and e-commerce companies.  Ma’s net worth is estimated at $42.5BN. Jack Ma is an active investor in the startup sphere, through third-party funds like Lakestar, as well as through direct investment. Through his family office Blue Pool Capital, which he runs together with Joe Tsai, he invested $20M in “Rent the Runway” in 2018. Besides that, Ma donates to various philanthropic causes.

Sources
Techcrunch, 01.03.2020
Gründerszene, 01.03.2020
Wikipedia, 01.03.2020
Bady Qb, 01.03.2020

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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.

Sources
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.

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

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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.

Did you know that you can download a unique list of major US single family offices for free on familyofficehub.io?

Sources
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.

Sources
MedicalDevice Network, 16.1.2019
LinkedIn (Picture), 16.1.2019

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German mobility startup Sono Motors – which is building a car powered by solar energy – is raising a major €50M funding round through external investors and its community. Now, a Bremen-based single family office contributed a major amount to the funding round.

Sono Motors: Munich-based startup working on an innovative electric car

Sono Motors is a German mobility startup founded in 2016. The Munich-based company wants to build an electric car that works with integrated solar cells. In total, more than 10,000 preorders for the company’s flagship model “Sion” exist. Already more than 13,000 test drives were finished. To fuel its further growth, the company now intends to raise €50M within 50 days. Sono’s previous funding campaigns were often done through Crowdfunding platforms like Seedrs.

German single family office as a major investor

At the end of December (2019), only €32M were raised so far. On the 8th of January, the funding amount rose by €10M through a major investment of the German single family office ELFH Holding and the venture capital firm WiVenture. ELFH Holding is a rather unknown German family office with its headquarters in Bremen. The investment shows the increasing role that family offices play when it comes to venture capital financing rounds.

Sources
Edison Media, 13.1.2019
Jannes Glas, 13.01.2019

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