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Investments

2

Portfolio Exits

2

About Jorge Paulo Lemann

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Latest Jorge Paulo Lemann News

3G Founders Have $1 Billion Bet on Federer-Backed Sneaker Maker

Feb 7, 2022

6:50 PM IST, 07 Feb 2022 6:30 PM IST, 07 Feb 2022 6:50 PM IST, 07 Feb 2022 Save (Bloomberg) -- Two families behind 3G Capital are major shareholders in an $8.6 billion shoemaker backed by Roger Federer that sells a $200 pair of sneakers named for the tennis legend. (Bloomberg) -- Two families behind 3G Capital are major shareholders in an $8.6 billion shoemaker backed by Roger Federer that sells a $200 pair of sneakers named for the tennis legend. Marc Lemann, son of 3G Capital founder Jorge Paulo Lemann, and Carlos Alberto Sicupira, who co-created the private equity firm, now hold a $1 billion combined stake in Zurich-based On Holding AG, filings show. The shares were spun out in the past two months from a stake accumulated since 2016 by an investment firm run by former 3G partner Alex Perez and represent about 14% of On’s stock. The move makes the Lemann and Sicupira families two of On’s biggest shareholders and highlights the unlikely ties between a tennis great and partners of the New York-based buyout firm that’s made a name for itself with deals involving Kraft Heinz Co. and Burger King Holdings Inc. Federer, a 20-time Grand Slam champion who invested in On during 2019, lives near the Swiss home of the elder Lemann, an avid tennis fan. They bonded through their love of the sport, and have been friends for more than a decade. “Jorge Paulo has a lovely family, and over time we got to know each other,” Federer, 40, who helped create a line of On shoes called the “Roger Pro,” said at a Credit Suisse Group AG event last week where he and Lemann, 82, were speakers. “He also has a tennis court in his house that I’ve enjoyed on several occasions to get ready for tournaments,” he added. A representative for Perez’s Miami-based investment firm -- Point Break Capital Management -- said the share transfer to companies controlled by Sicupira and Marc Lemann were part of a prearranged agreement once On went public. The Sicupira and Lemann families are major backers of Point Break, which plans to remain a long-term investor in the shoe company, they said. Marc Lemann and Sicupira didn’t respond to requests for comment. On’s shares are up 16% since its September initial public offering in New York, when the company raised more than $800 million. Jorge Paulo Lemann has a net worth of $21.6 billion through 3G’s investments, according to the Bloomberg Billionaires Index, including stakes in Budweiser-maker Anheuser-Busch InBev SA/NV and Kraft Heinz. Sicupira has a fortune of $8.8 billion. ©2022 Bloomberg L.P.

Jorge Paulo Lemann Investments

2 Investments

Jorge Paulo Lemann has made 2 investments. Their latest investment was in Cuidas as part of their Private Equity on October 10, 2020.

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Jorge Paulo Lemann Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

10/29/2020

Private Equity

Cuidas

$2.95M

Yes

3

9/27/2019

Unattributed

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$99M

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10

Date

10/29/2020

9/27/2019

Round

Private Equity

Unattributed

Company

Cuidas

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Amount

$2.95M

$99M

New?

Yes

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Co-Investors

Sources

3

10

Jorge Paulo Lemann Portfolio Exits

2 Portfolio Exits

Jorge Paulo Lemann has 2 portfolio exits. Their latest portfolio exit was Cuidas on November 23, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

11/23/2021

Acquired

$99M

3

8/27/2021

Acquired

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$99M

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10

Date

11/23/2021

8/27/2021

Exit

Acquired

Acquired

Companies

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Valuation

$99M

$99M

Acquirer

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Sources

3

10

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