Mirabaud Lifestyle Impact & Innovation, run in partnership with David Wertheimer, seeks to tap into the current new generation-led consumption revolution by supporting the European and global entrepreneurs likely to become the leaders in the digital, lifestyle and related innovation spheres of the future.
After its successful first close of €56m in November 2020 – which attracted investors from across Europe, Latin America, the Middle East and Asia – the vehicle is set for its second close in the coming weeks, with a final close expected later in the year.
Mirabaud Lifestyle Impact & Innovation invests in companies addressing the needs of a new generation of conscious consumers, which are increasingly seeking to contribute to a more responsible and sustainable world, looking to have a global positive impact. Millennials and Generation Z have differing priorities compared to elder consumers, which not only encompasses material goods, but above all, their underlying values, exclusive experiences, products combining technology and a holistic approach on wellbeing, and innovative and environmentally friendly redesigns of their lifestyles.
The experienced and skilled team behind the Mirabaud Lifestyle Impact & Innovation Fund – which aims to identify business models on the right side of change in the rapidly evolving consumer landscape – includes David Wertheimer, as well as Mirabaud’s Head of Private Equity Renaud Dutreil and Deputy Head of Private Equity Luc-Alban Chermette.
In addition to capital injections, the team works closely with existing company management to provide assistance and insights on product, innovation, marketing, management, distribution and sustainability strategies.
Since the completion of the first close, the Mirabaud Lifestyle Impact & Innovation team has completed six investments, with a further two expected to be finalised shortly.
One of the vehicle’s first investments was in digital media and e-commerce platform Highsnobiety. Targeted at younger demographics, the global platform covers news and trends in high fashion, streetwear, art and culture. The Mirabaud team is currently engaging with Highsnobiety’s management on strategy, content creation and brand recognition – as well as in the further development of unique and innovative offline experiences.
The Mirabaud team also invested in digital services provider Intrepid, which provides robust front and back-end e-commerce services to leading South East Asian marketplace platforms. The company’s strong in-house technology capability is well positioned to capitalise on the rapidly growing e-commerce market across the region.
David Wertheimer comments: “We are incredibly pleased to have completed our first investments with the Lifestyle Impact & Innovation Fund. The companies we have identified are true ‘next generation’ opportunities and each displays strong commitments to sustainability. All of our investments illustrate our unique proposition and the exceptional pipeline we have access to, in each case collaborating with other strategic investors capable of supporting us with the development of these promising companies. The goal of our team is to build a diverse and international portfolio of companies, focusing on the disrupters of tomorrow able to deliver outstanding long-term outcomes for our investors – as well as society in general.”