Jim Mellon, founder of Burnbrae Group, has backed Monaco Foundry, the startup accelerator cofounded by Fabrice Marquet and Brian Frederiksen in January 2020.
As a “one-stop shop for early to mid-stage companies,” Monaco Foundry provides hands-on business development support and access to a team of serial entrepreneurs, former senior government advisors, Fortune 500 executives and venture capitalists. However, unlike accelerator programs, they become shareholders and advise the startup company’s executive team, who remain the decision makers in control.
“We believe Monaco Foundry is a key player in the innovation playground and a pioneer when it comes to building a new breed of business accelerator, the first of its kind worldwide,” commented Mellon, who sits on the Board of Trustees of the Buck Institute for Research on Aging, and the American Federation for Aging Research. “They cultivate new ideas and technologies embedding the economies of tomorrow.”
Through his private investment company, Burnbrae Group, Mellon has substantial real estate holdings in Germany and the Isle of Man, as well as holdings in private and public companies. The British entrepreneur has also established himself as a leader in the nascent field of ageing research and longevity, the groundwork of which was published in “Juvenescence,” a book he co-authored.
“Jim Mellon’s backing confirms that VCs do not have to rely on brutal methods where Dragon's Den meets The Hunger Games and most startups fail disastrously,” said Pippa Malmgren, Senior Partner at Monaco Foundry and Economic Advisor to U.S. presidents. “VC can be driven by the Monaco Foundry's approach which creates a world Tolkien would be proud of, where heartfelt conviction, humbleness, unrelenting diligence and intelligent support combine to make the world a better place.”
Marquet, who has the experience of launching his own three medtech startups, stated, “Our model is solely focused on long-term value creation, we share the risks and the rewards with all the entrepreneurs through partnership. We sweat for our equity.”
The Monegasque added, “We are humbled that world-renowned entrepreneur and investor Jim Mellon believes in our vision and wants to empower us to help the next generation of entrepreneurs. He believes in our primary mission and passion—to improve both the lives of others and the condition of our planet.”
To date, Monaco Foundry’s portfolio features 17 companies, including Yes We Wine and, most recently, the Crystal Water Group, whose mission is to reduce the use of plastic or glass water bottles by providing the Hydrotech purifier for existing tap water to recreate the quality of Norwegian mountain water.