A family office looking to do more venture deals

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A month ago Family Capital looked at how European family offices are doing more venture investing. Well, that trend appears to be picking up steam. This week, the head of a German family office called Reimann Investors said it wants to spend a lot more on venture investing after a big success with a previous startup investment.

Speaking to a Swiss publication, Michael Riemenschneider, Reimann’s head, said the family office is looking to spend between €50-70 million in growth companies over the next five years. "We are currently investing more than €100 million in growth companies in digitization, fintech and e-commerce sectors and intend to invest a further €50-70 million in this field over the next five years,” Riemenschneider told the Zurich-based Handelszeitung.

The family office has invested in a number of European start-ups in recent years, including the online pet shop aggregator, Alphapet Ventures, the specialist digital employee benefits group, Spendit, the online sports retailer, Kellersports, and the online loan provider, Cashpresso.

Reimann Investors was also an early investor in the Swedish e-commerce payment group, Klarna, which claims to have 10% market share of the e-commerce business in Northern Europe. It was valued at $2.25 billion in 2015 and is one of Europe’s few unicorn startups.

The family office was set up in 2006 by two members of the Reimann family who had earlier sold their stakes in the family investment business, JAB Holding, which still has a stake in the company where the family's money was originally made, the consumer goods group Reckitt Benckiser Group. The Benckiser bit was the Reimann family business, it merged with Reckitt in the late 1990s.

JAB Holding, which is also building a high profile for itself in the direct deal space, is owned by four other Reimanns, Wolfgang, Renate, Matthias and Stefan.