We talk to a Swiss single-family office that is making waves, it says, in biotech and disruptive technologies.
A Swiss single-family office, Infinitas Capital,
prides itself on a hands-on approach to investment in areas such
as biotech, and the younger look and feel to its approach than
that which is, perhaps, typical of the Alpine
state.
In September, the organisation, based in Basel and Malta,
launched Opportuna, an investment entity that rolled out a
strategy focused on direct “venture secondaries” and “late-stage
primaries.” (The venture capital secondary market allows
investors to sell shares of their portfolio companies before the
company has had a proper exit. A late primary allows an investor
to commit to a fund that is still in fundraising mode and has
already invested in assets.)
Opportuna, which has an office in Zurich, is targeting $30
million with its first strategy, exploiting rising demand for
liquidity in the world’s venture capital market.
WealthBriefing caught up with Robin Lauber (pictured),
CEO and co-founder of Infinitas Capital, about the approach of
this SFO and what makes it different. Infinitas operates two
venture capital funds: Korify Capital, investing in longevity,
mental health, and regeneration; and Prediction Capital, backing
early-stage consumer tech and fintech startups. Historically
invested in real estate, Lauber is diversifying the family’s
wealth through Infinitas, focusing on NextGen impact-driven
investments in Europe and the US. Key areas are tech, life
sciences, and the future of sport.
“We are extremely hands-on. Our VC funds have a family office
philosophy and we are a bit more patient,” he said. A problems
with some large VC investors is that their portfolios became so
large that the managers could not give their underlying
investments the kind of attention that Infinitas can, Lauber
said.
Infinitas and its team talk to other family offices. Lauber said
he gets involved in holding NextGen meetings with other offices,
gathering 40 to 50 people at a time to brainstorm around how to
structure family wealth and invest it.
So far, there is no institutional money going into Infinitas’
vehicles apart from external asset managers (EAMs) running wealth
for ultra-high net worth individuals, Lauber said.
Many of the external investors into the family office are from
London and Germany rather than in Switzerland itself, Lauber
said. There is a cultural conservatism at work in Switzerland:
“The older generation tend to hold on for a long time and don’t
let the NextGen take over.” Other investors, besides those in the
UK, come from places including the US, he said.
In September, this news service
reported on Infinitas’ launch of Opportuna, an
investment entity that has rolled out a strategy focused on
direct “venture secondaries” and “late-stage primaries.” Its
first fundraising deadline was set for December this year.
At the time of that [Opportuna] announcement, Infinitas Capital
said the venture secondaries market was rising. Over the last
decade, the growth of venture assets has outpaced exits via
initial public offerings, mergers and acquisitions, causing a
backlog of $3 trillion of “unicorn value” across the US and
Europe. Investors are increasingly turning to venture secondaries
to access liquidity in an environment where traditional exit
opportunities are being blocked off.
Besides Robin Lauber, other figures at the family office include
partners Davide Ottolini, Christopher Chuffart, Michael
Vermueulen, and Alban Cousin.
The Lauber family, who created theSFO, built their wealth in
the property market. Robin Lauber is a third-generation heir, and
has already been involved in a number of investment
ventures.
Within the VCs mentioned above (Korify Capital and Prediction
Capital), portfolio companies include: Storypod, US-based
screen-less audio platform for children (education technology);
and biotech unicorn Cambrian BioPharma, developing therapies to
extend health-span.
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