INSUBCONTINENT EXCLUSIVE:
The Family has always been an ambitious startup accelerator
But it has always felt like the company never had enough money to grow as quickly as it wanted
The Family is raising a new $17.4 million funding round (€15 million).Private banking and asset management group LGT Capital Partners is
leading the round, with HummingBird Venture, Project A, eVentures and others also participating.&It the first time an investor understands
The Family business model
It the first time an investor isn&t trying to turn us into a VC fund,& The Family co-founder Oussama Ammar told me.According to him, The
Family is basically going to do more of the same
Except that this funding round &makes [The Family] virtually immortal.& The Family had to double-check its bank account many, many times to
make sure that there was enough money to pay all its employees
This funding round should let the company catch its breath.The Family has fine-tuned its fellowship program over the years
Every quarter, around 20 startups join The Family
They will attend onboarding sessions in Paris, Berlin and London.In Paris, The Family team is focused on product and engineering
In London, The Family can help you raise money
And in Berlin, The Family team is all about operations and execution.After the onboarding stuff, companies can still seek for advice and
There no demo day and end of batch
The Family plans to support startups when it comes to funding, product, hiring and more.Being part of The Family is not free of course
Startups need to be willing to give away 5 percent of their equity in exchange of this support system
This isn&t for everyone and many entrepreneurs are already surrounded by a supportive ecosystem
So if you don&t think you&re getting enough value, you can ask for your shares back within a year.I&ve covered some of The Family startups
over the years, such as Agricool, Algolia, Clustree, Comet, Doctrine, Fretlink, Heetch, Nestor, Payfit, Side, Stanley Robotics, Trusk and
more.With today funding round, The Family plans to invest in every funding round after a startup joins the fellowship
As a startup, if you can find a lead investor, The Family will automatically join the round with the same valuation and conditions.But the
fellowship is just one side of the story
&Our goal with the fellowship is that we never exit because we want to maximize the returns on investment,& Ammar said.In order to support a
staff of 60 people around 3 countries, The Family had to find a way to make money before those long-term exits
That why the company has launched other products.For instance, Pathfinder helps big companies become digital companies, Lion educates
startup employees and Kymono sells startup sweatshirts
The Family has spun off all those products into their own companies
They all have a dedicated CEO and team, but The Family retains at least 60 percent of the shares.And The Family wants to create more side
It seems like The Family is leveraging this model to finance all the fellowship activities.Eventually, The Family dream is to be able to
follow portfolio companies at every step of the way
It clear that you don&t need as much external support if you&re a Series C company
But The Family wants to become an infrastructure company that lets you build European tech giants.
