N&Q: Private equity-backed fambiz IPO flops; Family office VC group hires; two family dynasties do a deal

Family office backed VC expands and makes hires

One of the most active family office players in the venture capital market, Pritzker/Vlock Family Office, plans a big venture capital push and has hired five senior managers for its VC group, LaunchCapital. Details of the hires are here. The Pritzker/Vlock Family Office is owned by Michael Vlock and Karen Pritzker. LaunchCapital and the Pritzker/Vlock Family Office investments have included Snap, Spotify, tripping.com, Gelesis, Pico Trading, and many more.

Family business IPO tanks

Zip Industries, a 70-year-old family business based in Australia, has pulled its initial public offering, as it failed to find enough investors, according to The Australian newspaper. The tap maker is owned by private equity group Quadrant and the founding Crouch family. The failure points to the difficulty for businesses like Zip, which was valued at around A$500 million, to float, against a background of shrinking public markets. 

Two big Indian families cooperate on investment deals

The family office of the Godrej dynasty has teamed up with Anand Piramal – the son of Ajay Piramal, chairman of the Piramal Group – to invest in real estate, according to the Business Standard. The Godrej family own the Godrej Group, one of India’s best-known family businesses. Ajay Piramal is among India’s most revered entrepreneurs, who built up the eponymous group his family own to a multi-billion dollar conglomerate.