NEWS AND INSIGHTS FROM FINTRX
Opportunities to allocate directly are more prevalent now than ever, and family offices are at the center of this growing trend. In utilizing the FINTRX family office data and research platform, which provides intel into thousands of direct deal transactions made by 3,090+ family offices worldwide, we explore three family offices directly investing in travel companies.
Founded in 2017, Clarim Holdings (Jim McCann Family Office) is a Melville, New York-based single-family office serving as the investment vehicle for Jim McCann. McCann is the Chairman and Founder of 1-800-Flowers.com, a major gift retailer and distributor of flowers and gourmet foods. Clarim Holdings seeks private equity and venture capital investments in high-growth and family-owned businesses. They seek to speed up the growth of their portfolio companies by utilizing their operational expertise, knowledge exchange, and shareholder network.
Clarim Holdings targets companies on the edge of technological advances. They invest in companies operating in a range of industries and sectors, including media, communications, talent, e-commerce, and technology. In May 2019, Clarim directly invested in Skylark, a next-generation luxury travel agency based in New York. With a team of full-service travel advisors, an intuitive booking site for clients, industry-leading airfare, and exclusive partnerships with the best luxury hotels and resorts in the world, Skylark has introduced innovative technology to the traditional agency model. Clarim Holdings will co-invest alongside other LP's and family offices.
Established in 2014, JAWS Estates Capital (Barry Sternlicht Family Office) is a Greenwich, Connecticut-based single-family office serving as the investment vehicle for Barry Sternlicht. Sternlicht is the Founder, Chairman, and CEO of Starwood Capital Group, a private real estate investment firm with more than $60B of assets under management. Since its inception in 1991, Starwood has gained more than $100B of assets within every major real estate asset class. JAWS Estates Capital provides asset allocation decisions across a wide range of asset classes and investment strategies. JAWS allocates primarily to opportunities in real estate, venture capital, private equity, and direct investments. The firm focuses on investments in the consumer and technology sectors. Other industries of interest include travel, food & beverage, manufacturing, analytics, data, logistics, fashion, gaming, and eSports.
In September 2016, JAWS directly invested in Away, an American travel and lifestyle brand headquartered in New York. Away is a modern lifestyle brand creating thoughtful products designed to transform travel. Since its launch in February 2016, Away has become one of the fastest-growing consumer brands in the world. They have sold millions of travel products, grown from a team of four to over 250, expanded shipping to nearly 40 countries, opened seven stores across two countries, and launched several new products and experiences that are inspiring more people to travel the world. Away has also raised more than $156M in total equity funding to fuel its next phase of growth. Today, the company is expanding into new travel product categories including apparel, wellness, and lifestyle accessories, and investing in the growth of physical retail in the US and abroad—with the plan to open 50 new stores in the next three years.
In February 2018 and April 2019, JAWS directly invested in Lyric, a San Francisco, California-based travel company on a mission to design and operate accommodations for the modern business traveler. Through key real estate partnerships that include 20 of the NMHC “Top 50” developers, its premium boutique suites are reimagining the future of living for the modern business traveler. Designed, installed, and managed entirely in-house, Lyric has created a dynamic housing solution built for the future of real estate. JAWS makes co-investments and has made several other investments in companies including Reonomy, RealtyShares, Pivotal Commware, SafeGraph, Lytro, Joe's Jeans, Field & Stream, Mobalytics, ThirdLove, Skurt, and Little Spoon.
Founded in 2009, Kapor Capital (Mitchell Kapor Family Office) is an Oakland, CA-based single-family office managing the capital of software entrepreneur Mitchell Kapor. Kapor founded Lotus Software Corporation (acquired by IBM), which was the platform for wildly successful early spreadsheet application Lotus 1-2-3. Kapor Capital invests in both public and private equity across a range of sectors, regions, and asset classes, primarily focusing on seeding early-stage and social impact technology ventures.
Kapor Capital seeks to invest in opportunities that close significant gaps for United States-based minority and low-income communities. Kapor Capital is primarily interested in supporting entrepreneurs of color, women, and other underrepresented groups. The firm seeks to be a value-added investor to its portfolio companies and can provide expertise in strategy and business development, as well as provide a permanent capital base. Kapor Capital is sector-agnostic and employs a broad investment mandate. Sectors of interest for the firm include travel, finance, health, education, justice, work, and the food system, among others.
In March 2014 and March 2020, Kapor Capital directly invested in Via Transportation, Inc., or Via, an American transportation network company and real-time ridesharing company headquartered in New York City. First launched in 2012, the Via platform operates in the United States and in Europe through its joint venture with Mercedes-Benz Vans, ViaVan. Via is re-engineering public transit, from a regulated system of rigid routes and schedules to a fully dynamic, on-demand network. Its mobile app connects multiple passengers heading the same way, allowing riders to share a premium vehicle. Via's technology is utilized worldwide through dozens of partner projects with public transportation agencies, private transit operators, taxi fleets, private companies, and universities, seamlessly integrating with public transit infrastructure to power, innovative on-demand mobility. Kapor Capital is open to a variety of investment strategies. Geographically, Kapor looks first to United States-based opportunities, but the firm will look globally from time to time.
With complete coverage of over 3,090+ family offices, 15,800+ family office contacts, and 19,600+ tracked investments, FINTRX ensures direct access to accredited investor intelligence. The FINTRX platform is an essential tool in understanding the family office landscape in the U.S. and abroad, while also empowering users to uncover commonalities with these family offices for effective, personal outreach.
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June 23, 2021
Renae Hatcher is a member of the marketing team at FINTRX - focused on delivering targeted & relevant family office and registered investment advisor content to our subscribers.