Lennertz & Co, an owner-managed family office, has expanded its family of funds for investments in emerging blockchain technology with the launch of Blockchain Fund III.
The approach focuses on making focused investments in blockchain technology, specifically in firms that construct and develop blockchain infrastructure.
The fund of funds’ investment strategy is notably distinct from many other current cryptocurrency-focused investments due to its approach. The Lennertz & Co. Blockchain Fund III has a target volume of about €150m ($165m).
In 2020, the family office established one of the world’s first blockchain venture fund of funds, displaying its innovative capabilities. This was promptly followed by the Blockchain Fund II in 2022.
The current IRR (Internal Rate of Return) for both of these previous funds is significantly higher than the intended return of 35% annually. This performance is a result of the invested funds’ higher values, some of which have surged by a factor of more than 10 since the investments began three to four years ago. Similar returns are anticipated by Lennertz & Co. for the recently introduced Blockchain Fund III.
Philipp Lennertz, managing partner at Lennertz & Co stated: “We are known as a family office for entrepreneurs and institutional investors who invest early in world-changing technologies and long- term megatrends. In addition to artificial intelligence, defense & security, and impact investing – blockchain technology is one of the most attractive investment themes for the coming decades, and will dominate both the economy and society.”
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Blockchain technology is paving the way for Web 3.0, a decentralized network, while Web 2.0 is dominated by large online platforms.
Moreover, Blockchain Fund III will invest in 8-10 blockchain-focused venture capital funds in Europe and the USA.
Lennertz added: “Blockchain technology has the potential to become relevant to every industry and to disruptively change it. Many companies have already recognized this and are working on blockchain applications for their industries. By continuing our fund series, we enable consistent investment in the blockchain space. A portfolio structured in this way optimally combines the return potential of an asset class with diversification across multiple vintage years.”
