European family office backs startup
Belgium-based Verlinvest, the family investment group for the Spoelberch and de Mévius families, who are linked to the world’s biggest brewery group, InBev, have just led an investment round worth $30 million in an education app called Byju. Founded by Byju Raveendran in 2011, Byju has since raised close to $200 million, which includes investment from another Belgian family office, Sofina.
Big property deal
The family office of the Californian-based Nazarian family, Omninet Capital, which specialises in property and venture capital investment, has just completed a 400,000 square feet acquisition in downtown Los Angeles with a price tag of $80 million.
Family office merger
William E. Simon & Sons, a US-based family office of the Simon family, has merged with Massey Quick & Co. LLC, a wealth management, and investment consulting firm, to create a multi-family office. "For the past 29 years, our family has entrusted us with preserving its financial health and legacy for generations," said Peter Simon, co-chairman of William E. Simon & Sons, in a press statement. "With the growth of our extended family, we have looked to partner with a firm that shares our approach and world view. Massey Quick's investment capabilities and stellar reputation makes them an obvious choice as we begin a new era for our family."