Investment

Three investment offices back $100 million supply chain solution

The owners of three investment offices have joined a $100 million funding round for an on-demand manufacturing platform.

Steve Westly, acting through his respective investment office The Westly Group, and Bill Gates, likely through his venture investment group Gates Frontier, have invested in Fictiv, a San Francisco-based company alongside six other investors. Also joining the deal was the family investment/holding group Standard Investments.

Manufacturers use Fictiv’s digital platform to construct products, selecting the parts they need from a network of global suppliers.

Chief executive Dave Evans said in a statement following the deal: “We plan to leverage this new capital to accelerate our investment in our customers’ top challenges, particularly time-to-market for new products and supply chain risk.”

While companies like Fictiv are trying to reduce inefficiencies in the supply chain process, investors like Gates and Westly are exploiting them to drive returns.

The Westly Group said in a blog post: “The acceleration of new product development and adoption of digital technologies underpins our thesis around the growing market opportunity for on-demand manufacturing.

“Only 6% of the world’s more than 10 million manufacturers have reached an advanced stage of digitisation. 86% of 230+ small and medium-sized businesses recently surveyed indicated a willingness to adopt on-demand manufacturing services.”

The supply chain sector is important to the Westly Group. The firm has also invested in Circulor, a blockchain and AI supply chain startup, Optimal Dynamics, an AI-powered logistics business, and Procor, a rail car rental business.

For Fictiv, the latest fundraising brings the total investment in the business to $192 million since 2013. And while it will likely be a while before the myriad problems facing global supply chains dissipate, large investments into smart, tech-enabled businesses will contribute to solutions to some of the problems.

 

Subscribe

You will need a Premium Plus Subscription to access this database.

Exclusive news, analysis and research on global family enterprise and private investment offices.

Access to the most comprehensive fully interactive database on global family offices, principal investment offices, and family enterprises.

Check Deal Data, Senior Staff, and New Analysis on more than 1000 family/principal investment and holding groups

Already have an account? Login

Subscribe

You need at least a Premium Subscription to read this article.

The most comprehensive information service on the global family enterprise world, featuring exclusive news, analysis, research and data on global family enterprises, family offices, and private investment offices.

Premium

£299

per year

  • Exclusive reports, analysis and commentary
  • Exclusive access to family/private investment office deal information
  • Exclusive interviews with principals and senior management of family/investment offices
SUBSCRIBE NOW

Premium+

£399

per year

  • Access to All of Premium
  • Access to all of FamilyCapital Analytics, our interactive database with more than 1000 detailed profiles of family investment groups

More Info

SUBSCRIBE NOW

Already have an account? Login

You've reached the end.

Continue reading free articles by registering as a Member.
Or choose a Premium Plan.

Membership

Free

  • Exclusive reports, analysis and commentary
REGISTER NOW

Premium

£299

per year

  • Exclusive reports, analysis and commentary
  • Exclusive access to family/private investment office deal information
  • Exclusive interviews with principals and senior management of family/investment offices
SUBSCRIBE NOW

Premium+

£399

per year

  • Access to All of Premium
  • Access to all of FamilyCapital Analytics, our interactive database with more than 500 detailed profiles of family investment groups

More Info

SUBSCRIBE NOW

Already have an account? Login

Leave a Reply