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As the leader in providing comprehensive family office intelligence, FINTRX continues to see family offices accumulating the assets and skills necessary to allocate capital directly into the private capital markets. By harnessing our family office data and research platform, which provides credible insight into thousands of direct deal transactions made by over 3,600+ family offices worldwide, we explore three family offices making Series A investments into private tech companies.
1. Labora Family Office (Mackie Family Office)
Labora Family Office (Mackie Family Office) is a Dallas, TX-based single-family office. Established in 2014, and previously known as CES Holdings, the firm manages and invests the wealth of the Mackie family. The Mackie family created their wealth in the electrical supply industry. In 1951, Hartland Mackie began City Electrical Supply out of a horse stable in the United Kingdom. The company began by selling cables, conduits, light fixtures, and outlets and bolted to an international supplier of dozens of electrical products.
Today, Labora Family Office invests across several asset classes, including real estate, venture capital, and private equity. The firm primarily invests in opportunities directly. When investing in private companies, the group considers both established and startup companies but has historically shown an outsized interest in venture and seed rounds of funding. Labora invests across several industries, including manufacturing, e-commerce, fashion, consumer goods, technology, and many others. When making direct investments in private companies, the firm invests primarily invests in the United States.
In May 2018, Labora Family Office made a $7M Series A investment into Waggl, a Sausalito, California-based employee-voice platform that crowdsources real-time insight to drive faster action and alignment around critical business topics. Inspired by the waggle dance honeybees do to communicate vital information, Waggl believes every voice matters. Unlike heavy surveys or basic pulse tools, Waggl is a dialogue-first approach to engagement that creates shared ownership through inclusive team-based action-planning. Waggl goes beyond measurement by catalyzing authentic dialogue, alignment, and action around critical business topics.
Regarding Labora's real estate investments, the firm considers a wide range of opportunities and property types, including residential, multi-family residential, raw land, retail space, and restaurants. While the group considers opportunities agnostically, they have historically been heavily weighted in Texas real estate, particularly in the Dallas, Fort-Worth area. Labora Family Office regularly makes follow-on investments with their portfolio companies when appropriate. The firm's investment sizes range drastically.
2. Addition Capital (Verjee Family Office)
Established in 2018, Addition Capital (Verjee Family Office) is a London, United Kingdom-based single-family office serving as the private investment vehicle of the Verjee family. The group's founder, Jay Verjee established Addition Capital after several successful business endeavors. Jay Verjee, the son of Rumi Verjee, a prominent philanthropist, entrepreneur, and member of the House of Lords, served as President and CEO of ISE Inc prior to joining the family office. Rumi Verjee created his wealth through a series of business endeavors, including owning the franchising rights to Domino's Pizza in the United Kingdom. In the late 1980s, Rumi Verjee sold this stake in Domino's and continued a career in business, including owning the Waterford F.C. professional soccer team. Outside of the family office, the Verjee Family is heavily involved in philanthropy via the Rumni Foundation, a UK-based charity founded in 2006. The foundation promotes several charitable causes throughout the world, primarily focused on education and innovation.
Today, Addition Capital serves as the family's private investment arm, investing in a wide range of opportunities primarily within small to mid-size markets. When investing in portfolio companies, Addition Capital primarily targets groups operating throughout the financial services, business services, technology, healthcare, education, manufacturing, information, and communication sectors. Target companies for Addition Capital have talented management teams and the ability to improve via technological integrations. Geographically, the firm has primarily invested in United Kingdom-based companies with interests domestically and abroad. Addition Capital partakes in a wide range of investment stages.
In July 2020, Addition Capital made a $27M Series A investment in Fauna, a San Francisco, California-based data API for modern applications. With Fauna, developers can simplify code, reduce costs, and ship applications faster by replacing their database infrastructure with a highly productive and programmable data API that combines the power of custom business logic with the ease of GraphQL. The globally distributed storage and computer engine are fast, consistent, and reliable, with modern security infrastructure. Fauna is quick to get started with and lets developers experience freedom from database operations at any scale. Innovators like Hannon Hill, ShiftX, FarosAI, and Savor Brands trust Fauna to power their applications. With headquarters in San Francisco, with an experienced leadership team hailing from Microsoft, Okta, Twitter, Amazon, and Oracle.
In October 2020, Addition Capital made a $12M Series A Investment in Intellimize, a personalized marketing and website optimization platform that leverages AI and machine learning for better, faster results. Intellimize powers high conversion by using machine learning and marketers’ creative ideas to optimize web experiences for each unique visitor every time. The company was founded in 2016 by an experienced ad tech marketer and two experienced machine learning experts who had previously worked at Yahoo, Twitter, and BrightRoll. Intellimize is headquartered in San Mateo, CA, and backed by leading early-stage investors.
3. SPDG (Périer-D'leteren Family Office)
Founded in 1977, Société de Participation et de Gestion (SPDG) (Périer-D'leteren Family Office) is a Brussels, Belgium-based single-family office managing the wealth of the Périer-D'Ieteren family. The firm traces its roots back to 1805 and has remained one of two shareholders of the D'Ieteren Group. The group was founded by Joseph-Jean D'Ieteren, a world-leading automobile builder specializing in the manufacturing and exporting of car and truck bodies. The firm continued to grow into one of Europe's leading automotive import-export businesses. In the late 1940s, the group completed a deal with Volkswagen and Studebaker to manufacture and assemble automobile bodies. In the 1950s, the group expanded into the automobile rental business and, ultimately, vehicle repair and replacement. By 2000, the group's companies had an international presence, operating throughout Europe in countries including the United Kingdom, Ireland, Belgium, Poland, United States, Canada, Australia, Brazil, and New Zealand.
Today, SPDG focuses on the management of its strategic assets and companies and investing in emerging ventures. The firm places an emphasis on targeting investments that have a lasting impact on society and allocates across a range of sectors and industries. Particular verticals of interest include smart city solutions, e-health, healthcare, mobility, transportation, and more. The firm regularly makes fund allocations throughout the real estate, private equity, and venture capital.
Geographically, SPDG operates agnostically and regularly looks to fund investments in order to gain exposure to emerging markets and opportunities outside their traditional investment scope. Regarding the firm's real estate investments, SPDG actively looks to identify opportunities that embody the firm's vision for sustainable urban planning and architecture. The firm takes part in a wide range of deal sizes anywhere from $500K- $30M. SPDG regularly co-invests alongside other like-minded investment groups.
In December 2017, SPDG made a $15M Series A follow-on investment in Cleverciti Systems Gmb H, an industry-leading AI technology that enables real-time detection of parking spaces, optimizing the parking experience. Cleverciti solves parking searches by seamlessly guiding drivers to the most convenient available space, reducing search traffic and vehicle emissions, and maximizing the value of parking assets. Cleverciti provides organizations with a robust and highly reliable solution that enhances convenience, builds loyalty, and boosts engagement, allowing customers to maximize ROI and streamline the parking experience. Its end-to-end solutions are designed to strengthen parking detection, improve guidance, and enhance communication. As a leader in intelligent parking solutions, Cleverciti seeks to help organizations reduce traffic and emissions, and increase revenue while allowing drivers to enjoy a smooth, stress-free parking experience. The company is headquartered in Munich, Germany, with offices in Chicago. SPDG made another follow-on investment into Cleverciti Systems Gmb H in October 2020.
In November 2019, SPDG made a $7.5M Series A investment in IOTech, a leader in edge and fog computing IoT platforms. IOTech’s software technologies help simplify edge technology adoption and reduce integration costs and time to market for your edge systems. IOTech’s edge software products are designed to maximize openness, flexibility, and choice for its customers. This means providing solutions that provide independence from hardware, operating system, programming language, applications, OT protocols, and choice of cloud technologies. For systems comprising hundreds or thousands of nodes, deployment, and management of both hardware, infrastructure and applications is a major challenge. IOTech’s approach is to create an open solution that helps increase user choice as new technologies emerge while protecting investment and minimizing any risk of new technology adoption. IOTech edge software products are built on open technology used by hundreds of thousands of users worldwide.
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