Many might say a family business represents the antithesis of a startup. Family businesses are old economy, startups are new economy, so the argument goes.
But the business world is multi-faceted and more nuanced than this simple explanation. Many family businesses can be just as new economy as any startup. And startups will eventually become old.
What is for sure is the nexus between the two is growing. Family businesses want to engage with venture-type businesses to make them more dynamic. Startups want family business capital to grow their companies.
Where they meet is increasingly in the world of corporate venturing. For years now, big brand family businesses like BMW, Ford, and Koch Industries have financed corporate venturing/private equity groups to help them grow their core businesses, but also to lead them down new paths of business development.
Now more family businesses are joining their ranks and setting up corporate venturing groups. As our list below of family businesses with corporate venturing arms, family businesses are embracing corporate venturing more than ever.
THE FULL LIST OF CORPORATE VENTURING GROUPS OF FAMILY CAPITAL’S 750 – BELOW
CASE STUDIES OF FAMILY BUSINESSES WITH CORPORATE VENTURING GROUPS
Family Capital in association with PwC has gathered the names of the corporate venture groups from the Family Capital 750 largest family businesses in the world as measured by revenues.
Of course, not all of the 750 have separate corporate venturing entities. Many still use the parent company as the driver to engage with the venture world, and/or their family offices. But an increasing number are setting up separate businesses to source venture/private equity deals and help them equip themselves to the challenges of disruptive business forces they all face.
“Family venturing has become very popular for bigger family businesses, especially in Europe, Middle East and North America,” says Peter Englisch, PwC’s global family business leader.
He adds: “It not only fosters the entrepreneurial spirit among the owning families, but corporate venturing is also a good way to engage the next gen.”
Corporate venturing may make a lot of sense to a family business looking to refresh its revenues and embrace the new economy. But the venture world isn’t without its challenges. Many startups don’t live up to the hype of their launch and end up failing. Investors can and do lose a lot of money by backing the ones that eventually don’t succeed.
Big family businesses like Ford, BMW, and L’Oreal have the balance sheets to ride out underperforming ventures they’ve backed. But mid-sized private family businesses might not have the wherewithal to be able to do so. They have to be more careful when they play in the venture world.
As PwC’s Englisch says: “In order to take full advantage of corporate venturing clear criteria and rules needs to be developed and applied – because the consequences of not doing so can cost a business dearly.”
But if done well, corporate venturing can offer family companies a coherent way of dealing with the business challenges they all face. A corporate venturing arm can also give them a good platform for future generations of their family to drive the business forward.
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Venture Groups of the Top 750 Family Businesses
wdt_ID | Company name | Family Capital 750 Rank | Corporate structure: Public/Private | Venture Group |
---|---|---|---|---|
1 | Walmart Inc. | 1 | Public | Store No. 8 |
2 | Walmart Labs | |||
3 | Exor NV (Giovanni Agnelli B.V.) | 4 | Public | Exor Investments Ltd/ Exor Seeds |
4 | Ford Motor Company | 5 | Public | Ford Research & Innovation Ctr |
5 | Ford Smart Mobility LLC | |||
6 | BMW AG | 7 | Public | BMW i Ventures B.V. |
7 | BMW Startup Garage | |||
8 | Cargill, Inc. | 8 | Private | Cargill Ventures |
9 | Tata Sons Ltd | 9 | Private | Tata Capital Limited |
10 | Koch Industries, Inc. | 10 | Private | Koch Equity Development LLC |
11 | Koch Disruptive Technologies | |||
12 | Comcast Corp | 11 | Public | Comcast Ventures LLC |
13 | Reliance Industries Ltd | 19 | Public | Reliance Retail Ventures Ltd |
14 | Reliance Ventures Ltd | |||
15 | LG Electronics Inc. | 20 | Public | LG Technology Ventures |
16 | Continental AG | 24 | Public | co-pace GmbH |
17 | JBS SA | 27 | Public | JBS Investments GmbH |
18 | Banco Santander SA | 29 | Public | Santander InnoVentures |
19 | IKEA Group / INGKA Holding BV | 33 | Private | Ingka Greentech AB |
20 | Louis Dreyfus Company BV | 35 | Private | Louis Dreyfus Company European Ventures B.V. |
21 | Louis Dreyfus Company North American Ventures GmbH | |||
22 | Jardine Strategic Holdings Ltd | 47 | Public | Lancaster Ventures Ltd |
23 | L'OREAL SA | 48 | Public | Bold Business Opportunities for L'oreal Development |
24 | A.P. Møller - Mærsk A/S | 50 | Public | Maersk Growth |
25 | C&S Wholesale Grocers, Inc. | 51 | Private | Grocers Investments, Inc |
26 | Mars, Inc. | 58 | Private | Digitalis Ventures / Companion Fund |
27 | Randstad NV | 61 | Public | Randstad Innovation Fund B.V. |
28 | Sodexo SA | 68 | Public | Sodexo Ventures |
29 | Henkel AG & Company, KGaA | 69 | Public | Henkel Ventures |
30 | C.H. Boehringer Sohn AG & Co. KG | 76 | Private | Boehringer Ingelheim Venture Fund GmbH |
31 | CMA CGM SA | 80 | Private | CMA CGMVentures |
32 | Bertelsmann SE & Co. KGaA | 84 | Private | Bertelsmann Digital Media Investments |
33 | Cox Enterprises, Inc. | 86 | Private | Cox Innovations LLC |
34 | Financière Pinault (aka Kering) | 96 | Public | Groupe Artémis |
35 | Merck KGAA | 97 | Public | Merck Ventures B.V. |
36 | Doosan Corp | 111 | Public | Doosan Mobility Innovation Inc |
37 | Neoplux Investment Company | |||
38 | Power Corporation of Canada | 112 | Public | Victoria Square Ventures Inc |
39 | Fairfax Financial Holdings Ltd | 121 | Public | FairVentures Inc. |
40 | Ferrovial, SA | 126 | Public | Ferrovial Ventures Ltd. |
41 | The Siam Cement PCL | 135 | Public | Add Ventures Capital Ltd |
42 | Grupo Bimbo, S.A.B. de C.V. | 138 | Public | Bimbo Ventures |
43 | Li & Fung Ltd | 140 | Public | Fung Capital Asia Limited |
44 | Fung Capital USA | |||
45 | CEMEX, S.A.B. de C.V. | 142 | Public | Cemex Ventures B.V. |
46 | CEMEX Ventures SL. | |||
47 | Viacom, Inc. | 143 | Public | Infinity Business Ventures |
48 | Lennar Corp | 147 | Public | LMC Gateway Venture, LLC |
49 | Tiburon Golf Ventures Inc | |||
50 | Tiburon Golf Ventures Limited | |||
51 | Sistema Public Joint Stock Financial Corp | 150 | Public | Sistema-Venture Capital LLC |
52 | Solvay SA | 152 | Public | Solvay Ventures |
53 | Diethelm Keller Holding Ltd | 162 | Public | Diethelm Keller Investments |
54 | Rogers Communications Inc. | 163 | Public | Rogers Venture Partners LLC |
55 | Freudenberg & Co. KG | 165 | Private | Freudenberg Venture Capital GmbH |
56 | Sun Hung Kai Properties Ltd | 168 | Public | Sun Hung Kai Venture Capital Limited |
57 | Luxottica Group S.p.A. | 172 | Public | One Click Internet Ventures LL |
58 | Droege Group | 179 | Public | Droege Ventures |
59 | S. C. Johnson & Son, Inc | 190 | Private | SC JOHNSON Ventures |
60 | Swire Pacific Ltd | 191 | Public | Swire Properties Investments Ltd |
61 | HAL Trust N.V. | 201 | Public | Vision Ventures B.V. |
62 | Bloomberg L.P. | 204 | Private | Bloomberg Beta |
63 | Bloomberg Ventures Ltd. | |||
64 | Axel Johnson AB | 208 | Private | D-Ax Sweden AB |
65 | JAB Holding Company SARL | 216 | Public | Reimann Investors Advisory GmbH |
66 | Tengelmann Warenhandelsgesellschaft KG | 223 | Private | Tengelmann Ventures Adviser GmbH |
67 | Tengelmann Ventures Management GmbH | |||
68 | Indorama Ventures Public Co., Ltd. | 225 | Public | Indorama Ventures Ltd |
69 | Hertz Global Holdings, Inc. | 226 | Public | Executive Ventures, Ltd. |
70 | Hertz Global Holdings, Inc. | 226 | Public | Ridge Ventures IV, LLC |
71 | Majid Al Futtaim Holding LLC | 227 | Private | Majid Al Futtaim Ventures LLC |
72 | Wipro Ltd. | 233 | Public | Wipro Ventures |
73 | News Corp | 237 | Public | News Digital Ventures |
74 | News Xtend | |||
75 | PPF Group NV | 243 | Private | Vox Ventures B.V. |
76 | HELLA GmbH & Co. KGaA | 244 | Public | HELLA Ventures Silicon Valley |
77 | SM Investments Corp | 250 | Public | SM eVentures Inc. |
78 | Campbell Soup Company | 252 | Public | Campbell Investment Company |
79 | HCL Technologies Ltd | 261 | Public | HCL Venture Capital Limited |
80 | The Hershey Company | 266 | Public | Hershey (China) Investment Man |
81 | New World Development Company Ltd | 273 | Public | Lucrative Venture Ltd |
82 | Sany Group Co., Ltd | 298 | Private | Shenyang Sany Venture Capital Management Co. Ltd. |
83 | Groupe Bruxelles Lambert SA | 308 | Public | Groupe Bruxelles Lambert Sa |
84 | Franklin Resources Inc. | 312 | Public | Franklin Templeton Investments |
85 | Dillard's, Inc. | 319 | Public | Dillard Investment Co. Inc |
86 | Ralph Lauren Corp. | 321 | Public | Retail Ventures Services Inc. |
87 | Dr. Alexander Wacker Familiengesellschaft GmbH | 336 | Private | Wacker-Chemie Venture GmbH |
95 | LEGO A/S | 353 | Private | LEGO Ventures |
96 | JG Summit Holdings, Inc. | 360 | Public | Summit Internet Investments, Inc. |
97 | UCB SA | 366 | Public | UCB Ventures |
98 | Zorlu Holding AS | 378 | Private | Zorlu Ventures |
99 | Prosegur Compañia de Seguridad SA | 379 | Public | Proesgur Tech Ventures |
100 | Voith GmbH & Co. KGaA | 381 | Private | Voith Digital Ventures |
101 | United Internet AG | 387 | Public | United Internet Ventures AG |
102 | Franz Haniel & Cie. Gmbh | 392 | Private | Schacht One GmbH |
103 | NV Bekaert SA | 399 | Public | Bekaert Venturing |
104 | Miele & Cie. KG | 401 | Private | Miele Venture Capital GmbH |
105 | Pentland Group plc | 410 | Private | Pentland Ventures Ltd |
106 | Boparan Holdco Ltd | 456 | Private | Boparan Ventures Limited |
107 | Axel Springer SE | 460 | Public | Axel Springer Digital Ventures |
108 | Asklepios Kliniken GmbH | 476 | Private | Broermann Health Ventures |
109 | Fresh Del Monte Produce, Inc. | 482 | Public | Davao Agricultural Ventures Corp |
110 | Carlson Holdings, Inc. | 497 | Private | Carlson Private Capital Partners |
111 | Vingroup Joint Stock Company | 498 | Public | Cam Ranh Investment Company |
112 | Vingroup Ventures | |||
113 | Stena AB | 503 | Private | Stena Ventures AB |
114 | Suffolk Partners Corp | 518 | Private | Suffolk Equity Partners |
115 | Schwenk Donau Gmbh & Co. KG (aka Wieland-Werke) | 532 | Private | Wieland Ventures GmbH |
116 | TRUMPF GmbH + Co. KG | 534 | Private | TRUMPF Venture GmbH |
117 | Vorwerk & Co. KG | 539 | Private | Vorwerk Direct Selling Ventures GmbH |
118 | Elbit Systems Ltd | 548 | Public | Incubit Technology Ventures Ltd |
119 | IAC/InterActive Corp. | 559 | Public | Connected Ventures, LLC |
120 | Hubert Burda Media Holding KG | 565 | Private | Burda Digital Ventures GmbH |
121 | DLD Ventures GmbH | |||
122 | Albert Bonnier AB | 573 | Private | Bonnier Ventures AB |
123 | Wilbur-Ellis Holdings, Inc. | 583 | Private | Cavallo Ventures, Inc. |
124 | Wanxiang Group Corp | 609 | Private | Wanxiang Healthcare Ventures |
125 | L E Lundbergforetagen Publ AB | 613 | Public | Holmen Ventures KB |
126 | Viessmann Werke GmbH & Co. KG | 621 | Private | VC/O GmbH |
127 | VITO One GmbH | |||
128 | VITO Ventures Management GmbH | |||
129 | Crane Co. | 628 | Public | Crane Payment Innovations, Inc |
130 | Bose Corp | 634 | Private | Bose Investments B.V. |
131 | Rigby Group Ltd | 645 | Private | Rigby Capital Investments Ltd |
132 | Skion Gmbh ( i.e. Altana AG, …) | 648 | Private | Ventus Venture Fund GmbH & Co. Beteiligungs KG |
133 | Graham Holding Co. | 670 | Public | Quest Ventures, LLC |
134 | Roquette Frères SA | 671 | Private | Roquette Ventures |
135 | Giesecke & Devrient GmbH | 681 | Private | Giesecke+Devrient Ventures GmbH |
136 | Tekfen Holding AS | 682 | Public | Tekfen Venture Management LLC |
137 | Alfred Kärcher Gmbh & Co. KG | 701 | Private | Kärcher New Venture GmbH |
138 | Fressnapf Group | 710 | Private | Allegro Invest Se (aka Fressnapf) |
139 | Meredith Corp | 731 | Public | Meredith Hispanic Ventures |
140 | Time Direct Ventures, LLC | |||
Company name | Family Capital 750 Rank | Corporate structure: Public/Private | Venture Group |
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