Deloitte has boosted its start-up and scale-up capabilities with the acquisition of 27pilots, a Germany-based incubator, venture capitalist and matchmaker.
With 27pilots part of its portfolio, Deloitte will be able to better serve its base of start-ups and scale-ups with a full range of services, from incubation and growth through to technology, infrastructure and venture capital solutions.
Meanwhile, the bolt-on will also enhance Deloitte’s innovation and corporate venturing capabilities for its corporate clients. 27pilots helps corporates with partnering / acquiring start-ups, and building and running in-house venture units – the firm will continue to do so under its own brand as part of the Deloitte network.
“Start-ups have become a critical strategic resource for our customers. By combining 27pilots’ strength in building and operating world-class corporate venture client units with our consulting business, we can offer our clients comprehensive innovation services in the B2B market,” said Nicolai Andersen, Managing Partner of Deloitte Consulting in Germany.
“This acquisition strengthens Deloitte's corporate venture offering and increases our share of the innovation and venture market,” he continued.
Founded in 2018 in Munich, 27pilots rapidly rose to fame in Germany for its work in helping BMW develop and run its ‘Startup Garage’, which back in 2019 was one of the Germany’s first large-scale in-house units for corporate venturing. Since its launch, BMW’s Startup Garage has expanded into five other cities, including San Francisco, Tel Aviv, and Shanghai.
Fast forward five years, and 27pilots works for a long list of corporates, including Bosch, Holcim, and Siemens, as well as mid-sized and family-owned businesses.
“We are very excited about this partnership. It will enable 27pilots to scale its client offering internationally, responding quickly to growing corporate demand for our venture client solutions,” said founder and CEO of 27pilots, Gregor Gimmy (now a partner at Deloitte).
“We will leverage Deloitte’s strong global brand and resources to grow into other markets,” he said, adding that the corporate venturing builder will focus on clients in industries including automotive, aerospace, construction, manufacturing, insurance and retail.
Terms and conditions of the deal – which closed in January 2023 – have not been disclosed.
Sourced from Consultancy.eu