Lennertz & Co. is an owner-managed family office with a clear focus on the further development and value growth of its clients’ assets.

To this end, our team of more than 25 employees conducts a detailed and ongoing review of the entire family situation, taking into account the legal and tax-related framework conditions.

Our investment recommendations are fully aligned with the clients’ personal preferences. Given our complete independence, the clients are able to fully benefit from our unbiased assessment of global investment opportunities, their selection and their discreet implementation.

As an entrepreneurial family office, we appreciate our clients’ need for quick, profound and safe decisions. Lennertz & Co. has a number of licenses from the German Federal Financial Supervisory Authority (BaFin, Bundesanstalt für Finanzdienstleistungsaufsicht) and is therefore subject to numerous quality and regulatory requirements of both BaFin and the Deutsche Bundesbank.

Our Services

  • Independent overall consideration of the clients’ family, business and financial situation, taking into account the legal and tax-related framework conditions
  • Advice on the strategic (long-term) and tactical (short-term) asset structuring in line with the clients’ preferences
  • Definition of a target structure of the total assets and appropriate implementation measures
  • Definition and discreet implementation of investment opportunities in line with the short-term and long-term target structure of the total assets
  • Independent assessment of investment opportunities based on our experience, external professional resources and expert opinions
  • Selection and coordination of custodian banks, asset managers and advisers based on the defined target structure of the total assets
  • Identification and implementation of direct and indirect investments in both US and European venture capital and growth funds, direct and fund investments in German and European Small- and Mid-cap companies as well as pre-IPO investments
  • Access to exclusive agriculture and forestry investments, infrastructure investments, and movable and property investments
  • Succession planning taking into account tax-related framework conditions
  • Introduction to asset successors
  • Creation of a family governance structure
  • Advice on and establishment of foundations, particularly charitable or family foundations
  • Execution of wills
Asset
Structuring
  • Independent overall consideration of the clients’ family, business and financial situation, taking into account the legal and tax-related framework conditions
  • Advice on the strategic (long-term) and tactical (short-term) asset structuring in line with the clients’ preferences
  • Definition of a target structure of the total assets and appropriate implementation measures
Asset Development
and Growth
  • Definition and discreet implementation of investment opportunities in line with the short-term and long-term target structure of the total assets
  • Independent assessment of investment opportunities based on our experience, external professional resources and expert opinions
  • Selection and coordination of custodian banks, asset managers and advisers based on the defined target structure of the total assets
  • Identification and implementation of direct and indirect investments in both US and European venture capital and growth funds, direct and fund investments in German and European Small- and Mid-cap companies as well as pre-IPO investments
  • Access to exclusive agriculture and forestry investments, infrastructure investments, and movable and property investments
Asset Transition
  • Succession planning taking into account tax-related framework conditions
  • Introduction to asset successors
  • Creation of a family governance structure
  • Advice on and establishment of foundations, particularly charitable or family foundations
  • Execution of wills

Press

Bloomberg
(07/2022)

„Former UBS Banker’s New Fund Is Targeting US Startups Beset by Turmoil”

„It´s the best moment to invest right now,” is how our founder Philipp Lennertz categorizes the situation in the private equity market in an interview with Bloomberg reporter Benjamin Stupples.

With market valuations coming back, now is a good time to invest in early-stage and growth-stage emerging U.S. companies. To that end, Lennertz & Co. has launched a new portfolio of top U.S.-based venture funds. An occasion for Bloomberg to report on Lennertz & Co (see PDF for download below).

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Lennertz & Co.
(07/2022)

Lennertz & Co. starts second venture capital fund with US focus

The Hamburg-based family office Lennertz & Co. (LCO) continues its umbrella funds series with the LCO Venture US II fund. Similar to the preceding funds, investors gain access to the best venture capital fund managers in the US. The investments in the selected target funds are focused on the technology sector.

Venture capital investments in the US have been in high demand worldwide for some years now. Such funds are usually heavily oversubscribed, and the fund initiators can choose the investors.

“The only thing that counts now in venture capital in the US is access. As an investor, you must contribute more than the necessary investment volume,” says Philipp Lennertz, Managing Partner of Lennertz & Co. “The venture capital firms seek long-term network partners who act quickly and professionally and have the right mindset for entrepreneurial investing.”

Especially top-tier venture capital firms with a strong track record have a long waiting list or offer investment opportunities only to existing investors. “Since Lennertz & Co. has invested in US venture capital firms for over 20 years, we have a partnership network to the best venture capital fund managers. For some of these general partners, we are the only investor from Germany”, adds Lennertz.

The market correction since the beginning of 2022 has put pressure on the valuations of tech companies on the capital markets. The same applies to a lesser extent to the venture capital segment.
"However, after the correction, this is a very good time to invest in venture capital," says Philipp Lennertz.

In particular, young and innovative companies in early development phases have the agility to react quickly to macroeconomic changes. "Eventually the growth of some companies will slow down somewhat. However, the positive long-term trend in the technology segment remains."

The Lennertz & Co. Venture US II will comprise approximately ten US target funds. Accel, Firstmark, Insight Partners, Kleiner Perkins, Lightspeed, NEA, and TCV have already been decided. The full portfolio will consist of more than 80% early-stage and growth funds. Up to 20% of the fund volume is planned for direct investments and co-investments. Altogether investors will hold stakes in around 300 portfolio companies. As a result, the fund will heavily be diversified.

In the preceding Lennertz & Co. US Venture and Growth Fund I (vintage year 2019), the target fund managers invested in prominent tech companies such as AirBnB, Coursera, Instagram, or Netflix and profited enormously from their increases in valuation and IPOs. The portfolio of funds from Bain Capital, Canaan, and Insight Partners had a gross multiple of 1.45x and a gross IRR of around 55% after just three years (at end of Q4 2021).

The US fund series of Lennertz & Co. includes four other venture funds of funds, three of which are part of its BPE subsidiary, through which Lennertz & Co. has cultivated over 20 years a network with the best venture capital teams in the United States.

Lennertz & Co. sets up a new umbrella fund every two years in the areas of private equity Europe, venttre capital Europe, and venture capital USA. Together with other funds for blockchain venture capital, luxury real estate project development, and direct investments, Lennertz & Co. offers a unique platform for alternative investments.

 

About Lennertz & Co.

As an entrepreneurial and owner-managed family office, Lennertz & Co. focuses exclusively on the success of its clients' investments. The investment recommendations are in line with the personal preferences of the clients. They benefit from the independence of Lennertz & Co. and the exclusivity of the investment opportunities.

Lennertz & Co. also has a large number of authorisation certificates from the German Federal Financial Supervisory Authority (BaFin) and is thus subject to numerous qualitative and quantitative requirements of both BaFin and the German Bundesbank.

Lennertz & Co. shares its clients' demand for fast, profound and secure decisions. In order to thoroughly examine the opportunities that arise in the venture and growth capital, private equity and blockchain segments for its clients, Lennertz & Co. has a competent team at its disposal that can look back on decades of experience. In addition, the advisory board consists of renowned industry, venture capital and private equity experts such as Prof. Dr Heinrich von Pierer, Prof. Dr Klaus Wucherer, Stefan Theis, Daniel Thung, Daniel Milleg and Florian Heinemann.

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Lennertz & Co. GmbH
Düsternstraße 10
20355 Hamburg
Germany

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Information according to § 5 TMG:

Lennertz & Co. GmbH
Düsternstraße 10
20355 Hamburg
Germany

Represented by:

Philipp Lennertz

Contact:

Tel: +49 40 210 91 33-20
Fax: +49 40 210 91 33-21
Email: info@lennertz.com

Register entry:

Office: Hamburg
Register number: HRB 137568

VAT ID:

VAT Identification Number in accordance with §27a Value Added Tax Act:
DE 255 807 053

Supervisory authority:

Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht)
Marie-Curie-Str. 24-28
60439 Frankfurt

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Conflict of Interest-Policy:

Top 5 Reporting gemäß MiFID II

No Consideration of Impact on Sustainability Factors

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