Quote of the Week: HNWIs Step up the VC Game


October 17, 2013

“We are seeing great later-stage opportunities that need additional capital and can benefit from the guidance of our venture partners such as the former CEOs of Walmart.com, Sonic Solutions and NDS.”


Who said it: J.B. Pritzker, co-founder and managing partner of Pritzker Group


In Context: The quote is from a press release issued by Pritzker Group, a US based private equity and VC investment fund. The name Pritzker may not be familiar to readers outside of the US, but the businesses that built the founders’ wealth is, that is, Hyatt Regency hotels and the Marmon conglomerate. Upstart Journal says that the Pritzker brothers are tied as the 166th wealthiest Americans in the Forbes wealth rankings, with net worth of USD 3 billion each. Their fortunes each grew USD 500 million in the last year when they sold shares of Marmon Group, another company started by the family. Nine other Pritzkers made the Forbes list this year too.


The press release was announcing that the firm is moving a significant amount of capital into late stage investment. Pritzker Group’s venture arm had been making early-stage investment in technology and related ventures but now it’s going national and moving firmly into growth capital too. Its website says it has had “numerous successes”,  including Fleetmatics (IPO), SinglePlatform (acquired by Constant Contact), Chegg (IPO filed), Awesomeness TV (acquired by Dreamworks), Playdom (acquired by Disney), LeftHand Networks (acquired by Hewlett-Packard) and TicketsNow (acquired by Ticketmaster).It is yet another example of how high net worth individuals are stepping up their dedication to venture capital and PE. The quote above shows just how well networked some of these wealthy family fund investors can be, which is no doubt a benefit to portfolio companies.  (Image source Pritzker Group)


Where we found it: Pritzker Group

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