N&Q: Family office plans links with big corporations; family office deals

Family office to partner with big corporations

Wasson Enterprise, a family office set up by Gregory Wasson, the former CEO of Walgreens, a big US-based pharmaceutical store chain, has launched a new initiative around new technologies, according to The New York Times. The initiative called Innventure, aims to develop new technologies lent by big corporation. The NYT article said Innventure is expected to announce a tie-up with Procter & Gamble. Wasson told the NYT: “What I think is most interesting is that we’re looking to help leverage their powerful R. & D. machine (Procter & Gamble) with our nimble entrepreneur team to identify the opportunities that they have developed.”

German family office backs Dutch software group

Hopp Beteiligungsgesellschaft, the family office of Daniel Hopp, one of the founders of the German software group, SAP, is backing an Indian tech startup. Flytxt, a customer data software company, has received $11 million from DAH Beteiligungs, a subsidiary of Hopp’s family office. RM Beteiligungsverwaltung, the German-based investment office of Dr Roland Metzger, who sold an internet job site to Adecco back in 2002, has also backed Flytxt.