When questions arise about the Kraft Group’s activity in Boston-area startup investing, “suddenly everybody gets as quiet as a Tuesday in Foxborough,” as the group is “consistent about keeping a low profile” in this sector, according to Scott Kirsner of the BOSTON GLOBE. Kraft Group President Jonathon Kraft in an email wrote, “We do not talk about our passive investing. The companies we invest in should talk about their businesses.” The Kraft Group’s investing in startups "is what is called a 'family office,' charged with putting the money of one very well-off family into fledgling companies, in the hopes of an above-market return." Kraft Group Dir of Investments Bill Scalzulli, an employee since 1992, “oversees the Krafts’ family office investing,” and “sometimes serves on the boards of startups the Krafts put money into.” Kraft Group VP/Investments D. David Lee “joined the team last year” from Cambridge Associates, an investment management firm. The “most recognizable investment” of the past decade is DraftKings. According to data provider CB Insights, the “most recent deal” is a Boston startup called Stackwell, which “announced a first funding round" of $3.5M in August. Much of the Kraft Group’s investment activity over the last decade has “focused on biotech and medical device companies in the Boston area” including Cambridge’s Scholar Rock. In June, the Kraft Group “put money” into Evolved by Nature, a Medford startup. Other investments are “related to sports and entertainment,” like the Premier Lacrosse League, Sports IQ and Mythical Games (BOSTON GLOBE, 10/6).
