Family office/foundation deals
Berggruen Holdings, the investment office of billionaire German investor, Nicolas Berggruen, has helped fund an AI, advanced materials startup called LabGenius. Berggruen along with 11 other investors have committed $3.6 million to the UK-based startup.
Soläng Invest, a family investment firm of the Swedish family called Goransson, has backed a Stockholm-based data processing startup called DPOrganizer. Soläng backed the group with three other investors in a Series A funding round with €3 million.
Gaw Capital, a Hong Kong property investment group controlled by the Gaw family, has co-invested with Goldman Sachs along with others to buy a big retail portfolio in Hong Kong worth $2.9 billion, according to local reports.
The Michael and Susan Dell Foundation has backed an educational startup called BetterLesson. The foundation backed the US group with three other investors with a Series B funding round worth $10 million. The Bill and Melinda Gates Foundation backed BetterLesson in an earlier funding round.
Egyptian billionaire Naguib Sawiris plans to launch a new investment vehicle to acquire gold-mining assets across the world, according to the Financial Times.
Talis Capital, a UK-based family-backed VC group, has backed a machine learning group called Luminance. Talis backed the UK startup with $10 million, after backing them in an early funding round.
Family business deals
Family-owned beer company Avery Brewing has sold a 30% stake to Mahou San Miguel, a Spanish brewing company. Based in Colorado, Avery’s founder Adam Avery said in a statement that he and his father were only looking to sell a minority stake to a “privately held and family-owned entity” that was interested in a long-term investment.