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Lennertz & Co. launches third European venture capital fund of funds

Photo: Phil­ipp Lennertz, mana­ging part­ner of Lennertz & Co.
18. Novem­ber 2021

Hamburg — Hamburg-based family office Lennertz & Co. has closed its second venture capi­tal fund with a Euro­pean focus and conti­nues the fund series with Lennertz & Co. Venture Europe III. Its prede­ces­sor fund invests at least 70 percent in selec­ted target funds such as Cherry Ventures, DN Capi­tal, North­zone, Project A or Target Global. The success­ful concept of leading VC funds and direct invest­ments is thus continued.

“Due to stron­gly incre­a­sed valua­tions of the inves­ted compa­nies, we have closed the second Venture Europe fund. Key contri­bu­tors to this decision were invest­ments in the neobro­ker Trade Repu­blic, the event plat­form Hopin, the 10-minute deli­very service Flink or the foreign payment service provi­der Remitly, which attrac­ted a lot of atten­tion from users and inves­tors in recent months,” says Phil­ipp Lennertz (photo), mana­ging part­ner of Lennertz & Co.

Like­wise, direct invest­ments had a signi­fi­cant impact on the perfor­mance of the second venture capi­tal fund focu­sed on Europe. For example, Lennertz & Co. inves­ted in the digi­tal insurance specia­list Wefox with the fund. Anot­her invest­ment was made in the Munich-based start-up Konux, which is consi­de­red a leader in AI-suppor­­ted moni­to­ring of track systems. Also in the port­fo­lio is a direct invest­ment in Sorare. The company opera­tes a fantasy soccer game that allows play­ers to buy/sell and manage a virtual team using digi­tal player cards. The game uses a tech­no­logy based on the block­chain system Ethereum.

The special fund concept of Lennertz & Co has proven itself. 70 percent of the capi­tal is inves­ted in very good target funds. Their port­fo­lios include compa­nies such as Trade Repu­blic, Hopin and Flink, which have already made a name for them­sel­ves. 30 percent is inves­ted in direct invest­ments such as the digi­tal insurance specia­list Wefox, which now also enjoys a high valuation.

“More than ever, we are convin­ced of our concept of a mix of invest­ments in the best venture capi­tal teams in Europe and direct invest­ments,” says Phil­ipp Lennertz. “We see that the local venture capi­tal scene is well on the way to coming of age. Young Euro­pean compa­nies with first-class digi­tal busi­ness models curr­ently offer a high poten­tial for success, in which we want to parti­ci­pate with our clients. That is why we are conti­nuing the fund series with Lennertz & Co. Venture Europe III and have already star­ted investing.”

About Lennertz & Co.

Lennertz & Co. is an owner-mana­­ged family office with a clear focus on the further deve­lo­p­ment and value enhan­ce­ment of its clients’ assets. For this purpose, their indi­vi­dual family, busi­ness and asset situa­tions are exami­ned in detail and on an ongo­ing basis, taking into account the legally and fiscally rele­vant frame­work conditions.
The invest­ment recom­men­da­ti­ons are in line with the perso­nal prefe­ren­ces of the clients. They bene­fit from the inde­pen­dence of Lennertz & Co., for example in the assess­ment of global invest­ment oppor­tu­nities, their selec­tion and their discreet implementation.

As an entre­pre­neu­rial multi family office, Lennertz & Co. shares its clients’ demand for fast, profound and secure decisi­ons. In order to thoroughly examine the oppor­tu­nities that arise in the private equity segment for its clients, Lennertz & Co. has a compe­tent team at its dispo­sal that can look back on deca­des of private equity expe­ri­ence. In addi­tion, the advi­sory board consists of renow­ned indus­try and private equity experts such as Prof. Dr. Hein­rich von Pierer, Prof. Dr. Klaus Wuche­rer, Stefan Theis, Daniel Milleg and Florian Heinemann.

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