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Mosaic Formula
Mosaic Formula was established in 2010 by Ernesto Bertarelli and his wife, British songwriter Kirsty Bertarelli, following the landmark sale of Serono SA.
Mosaic Formula
Mosaic Formula was established in 2010 by Ernesto Bertarelli and his wife, British songwriter Kirsty Bertarelli, following the landmark sale of Serono SA. The biotechnology company, built over three generations by the Bertarelli family, was sold to Merck KGaA in a deal that crystallized one of Europe's largest bio-pharma fortunes. The office operates from London and serves as the primary investment vehicle for the couple's wealth, distinct from Bertarelli's separately managed philanthropic and sailing commitments. The investment strategy spans direct private equity, public securities, real estate, and venture capital. In life sciences — where the Bertarelli name carries deep operational credibility — Mosaic Formula participates in early-stage and growth rounds, often co-investing alongside specialist healthcare funds. Public records and regulatory filings show positions in financial services and media assets. The real estate portfolio includes premium London residential properties and Alpine holdings in the Swiss luxury resort market. The geographic focus is European, with select exposure to North American opportunities that complement existing sector expertise. The office maintains a lean team of investment professionals, typical of single-family structures where principals shape the mandate directly. While the exact deployment total is not publicly disclosed, the capital base is anchored by the Serono liquidity event. Ernesto Bertarelli co-chairs the Bertarelli Foundation, a significant marine conservation entity, but the investment office structure is maintained as a separate entity, not a program-related vehicle. The governance separates pure investment activity from philanthropic initiatives through distinct legal entities. Mosaic Formula's structural distinction lies in its operator-investor DNA: a family that built and ran a global pharmaceutical company for decades now deploys its capital into similar high-stakes, science-led bets. That bench depth — the ability to diligence a drug development startup the way a listed pharma CEO would — differentiates it from most single-family offices, which typically lack sector-operating chops at scale. The office is structured for indefinite duration, with investment decisions driven by the Bertarelli family's consolidated balance sheet rather than third-party LP timelines.
General information
Firm type
Single Family Office
Year founded
2010
AUM
Undisclosed
Location
Region
Europe
Country
United Kingdom
City
London
Corporate office
London, United Kingdom
Principals
Ernesto Bertarelli
Principal
Kirsty Bertarelli
Principal
Sector focus
Frequently asked questions
Who runs investment decisions at Mosaic Formula?
Ernesto Bertarelli directs the overall investment mandate as principal. The office operates with a small, dedicated investment team that executes on his strategic priorities, which are heavily influenced by his family's long history in pharmaceuticals and his direct knowledge of the European luxury and technology landscapes.
How does Mosaic Formula source proprietary deal flow?
The firm's primary sourcing advantage comes from the Bertarelli family's deep network in European biotechnology. As the former CEO of Serono, Ernesto Bertarelli retains relationships with senior scientists, venture partners, and executives across the life sciences continuum, which generates private investment opportunities. The family's presence in elite yachting circles also creates off-market luxury and hospitality leads.
Is Mosaic Formula structured as a single family office or does it operate more like a venture firm?
Mosaic Formula is a single-family investment office managing the Bertarelli family's consolidated wealth. It does not raise external funds or operate on a traditional fund cycle. Its venture investments are made directly from the family balance sheet, targeting life sciences and technology deals that align with the principals' long-term, thematic view rather than a manager's need to generate liquidity within a fixed window.
What investment stages does Mosaic Formula typically target?
Based on public record and co-investment filings, the firm participates across early-stage biotech ventures, growth rounds in digital health, and control or significant minority stakes in established luxury and real estate assets. The office does not limit itself to a single asset class or liquidity profile, favoring concentrated positions in each commitment.
How is Mosaic Formula related to the Bertarelli Foundation?
The two entities are legally separate. The Bertarelli Foundation focuses on marine conservation and neuroscience research, while Mosaic Formula manages the family's for-profit investment portfolio. Though Ernesto Bertarelli co-chairs the foundation with his sister, the investment office operates with a distinct team and balance sheet, with no crossover in deployment goals.
Does Mosaic Formula participate in fund commitments or only direct deals?
The office primarily executes direct equity and real estate transactions. While it may make selective commitments to specialist venture funds as part of a co-investment or knowledge-sharing arrangement, its disclosed activity points to a strong preference for holding assets directly on its own balance sheet rather than through commingled vehicles.
Where does the underlying wealth come from?
The capital is derived almost entirely from the 2007 sale of Serono SA. Founded in 1906 by Ernesto Bertarelli's great-grandfather, Serono grew into Europe's largest biotechnology company. Its sale to Merck KGaA generated proceeds widely reported at over $13 billion (per public record), which now anchors the family office's investment portfolio.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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