Family Offices: Power Players Quietly Shaping the Future of Investments
Ken Rutkowski
The guarded universe of family offices—opaque by design, reserved for the ultra-wealthy, and generally off-limits to outsiders. But in 2024, the veil has been lifted, if only slightly, to reveal a fascinating trend: family offices are diving headfirst into the startup world, funding the next wave of technological and societal breakthroughs. Here’s why family offices are the hottest startup investors you’ve never heard of and which industries they’re pouring their money into.
What Is a Family Office?
A Family Office is a private wealth management advisory firm that serves ultra-high-net-worth individuals or families. Unlike traditional wealth management firms, family offices provide a holistic suite of services beyond investment management. These can include estate planning, tax services, philanthropic advisory, risk management, and concierge services that manage everything from accounting to travel arrangements.
Family offices are structured to preserve and grow wealth across generations, often with a focus on maintaining privacy and flexibility. They can be Single-Family Offices (SFOs), which serve just one family, or Multi-Family Offices (MFOs), which cater to several families, sharing resources for efficiency and cost-effectiveness. Because of their vast resources and the ability to make long-term, patient investments, family offices have become significant players in venture capital, particularly in industries that require extended development timelines.
The Value of Working with Family Offices
The value of working with family offices extends beyond their financial capacity. Patient capital is a critical advantage; unlike traditional venture capital, which often seeks returns within a few years, family offices can afford to wait much longer, aligning with the often unpredictable timelines of tech development and innovation. This means startups can grow organically without the pressure of rapid scaling or exits.
Family offices also bring a wealth of industry connections and strategic guidance. Because they often operate with the intent of legacy building, their investments are typically more strategic and hands-on. They might leverage personal networks, industry expertise, and even other portfolio companies to support a startup’s growth. This level of engagement can be incredibly beneficial for founders, particularly in industries like biotech, clean energy, and AI, where expertise and patience are paramount.
A Surge of Startup Activity
In 2024, some of the world’s most discreet power players have been actively reshaping the global startup ecosystem. According to the latest ranking of the top 10 most active family offices outside the Middle East, heavy hitters like Maelstrom (Arthur Hayes’ Family Office) and Motier Ventures (Guillaume Houzé’s Family Office) lead the pack, with 22 and 21 startup investments, respectively. These aren’t just any investments; they’re bets on the technologies and industries that will define the future: AI, energy, biotech, and more.
Family offices, which represent the wealth of individuals or families typically worth $100 million or more, have traditionally been known for their discretion. Unlike traditional venture capital funds, these offices tend to operate behind the scenes, often bypassing institutional scrutiny. But in 2024, the startup deals they are making offer a rare peek into their evolving priorities. Maelstrom emerged as the top dealmaker this year, showcasing Arthur Hayes’s focus on leveraging his vast wealth towards innovative tech and potentially world-changing ventures.
Big Names Betting Big
One of the most striking aspects of the data is how familiar names are shaping this trend. For instance, Emerson Collective, Laurene Powell Jobs’ family office, tied at 15 investments alongside Atinum Investment and Hillspire LLC( Eric Schmidt’s family office). All three of these family offices have been highly influential in steering resources towards climate-tech startups, sustainable energy solutions, and frontier AI. The alignment here reflects not only their respective backgrounds—Jobs’ dedication to education and climate change, and Schmidt’s involvement with AI policy—but also the larger narrative in venture investing.
Moreover, Thiel Capital, the family office of Peter Thiel, has taken an active role, with 14 startup investments, continuing its focus on deep tech, fintech, and AI. Thiel’s inclination towards foundational technologies that shift industries isn’t a surprise, but the scale and frequency of these investments in 2024 highlight a renewed appetite for backing companies pushing the boundaries of what’s possible.
Family offices like AGLAÉ Ventures (Bernard Arnault’s family office) and Horizon Ventures (Li Ka-Shing’s family office) have also taken their seats at the table, with 13 and 12 investments, respectively. Their portfolios reveal an eclectic mix: luxury tech, energy innovations, and biotech. What’s interesting here is the crossover between domains. For instance, Arnault’s focus on luxury brands now includes deep interest in technologies that affect consumer goods and experiences—aligning with both the heritage of LVMH and the future of digital interfaces in luxury.
The 2024 Focus: AI, Energy, Biotech, and Beyond
What are the trends shaping these investments? Artificial Intelligence, energy, and biotech have emerged as major focal points. According to PitchBook data, investments in AI startups by family offices increased by over 40% in 2024 compared to the previous year. This surge highlights the broader sense of urgency—or opportunity—among these investors to capitalize on AI-driven transformations, from generative AI to automation of core industry functions.
In the energy sector, family offices have ramped up their investments in clean tech. With climate urgency being a persistent theme, family offices are opting to fund the startups that promise to make sustainable energy solutions viable—a trend that aligns with IEA reports indicating a record $1.7 trillion in global clean energy investments in 2024.
The development of genomics, longevity technology, and personalized medicine are driving interest in the biotech sector. Premji Invest, founded by Indian billionaire Azim Premji, is one such family office heavily investing in biotech startups, with a particular focus on healthtech and medical innovation. Biotech as a sector experienced over $80 billion in total venture funding this year, and family offices have been a key component of that wave.
Family Office Events in 2025
Family offices are set to convene at several key conferences in 2025, providing platforms for networking, knowledge sharing, and strategic discussions. Here are some notable events scheduled for the upcoming year:
Family Office Winter Forum 2025
Date: March 10, 2025
Location: 360 Madison, Convene, New York, NY
Organizer: Opal Group
Details: This forum brings together family offices, private investors, and investment managers to discuss investment strategies, family governance, and emerging trends in wealth management. (opalgroup.net)
Family Office & Private Wealth Management Forum 2025
Date: July 21–23, 2025
Location: Newport Harbor Island Resort, Newport, RI
Organizer: Opal Group
Details: As Opal Group’s flagship event, this forum is one of the largest family office gatherings globally, covering a wide range of investment topics, including direct investing, impact investing, and non-correlated assets. (opalgroup.net)
Global Family Office Conference
Date: June 3, 2025
Location: London, UK
Organizer: Global Family Office Community
Details: This annual conference brings together family office members, including principals, next-gens, and executives, for a full-day meeting to discuss global trends, investment strategies, and family governance. (globalfamilyofficeconference.com)
Family Office Forum New York 2025
Date: October 21–22, 2025
Location: The Harvard Club, New York, NY
Organizer: Prestel & Partner
Details: This forum gathers over 100 family offices and ultra-high-net-worth individuals in a confidential setting to share experiences and learn from each other. (prestelandpartner.com)
Family Office Conference at London Business School
Date: February 25–26, 2025
Location: London, UK
Organizer: London Business School
Details: This conference focuses on the growth and challenges of family offices, offering insights into governance, investment strategies, and succession planning. (london.edu)
Middle East Family Office & Wealth Symposium
Date: February 13, 2025
Location: Fairmont The Palm, Dubai
Organizer: Institutional Investor
Details: This symposium brings together family offices and wealth managers from the Middle East to discuss investment opportunities, regional trends, and family governance. (iinow.com)
European Single Family Office Symposium 2025
Date: June 25–27, 2025
Location: Beau-Rivage Palace, Lausanne, Switzerland
Organizer: Institutional Investor
Details: This symposium gathers single-family offices from across Europe to explore investment strategies, governance issues, and the evolving role of family offices in wealth management. (iinow.com)
These conferences offer valuable opportunities for family office professionals to engage with peers, stay informed about industry developments, and explore new investment avenues.
Why Are Family Offices Doing This?
The motivations behind this surge in startup investments are multifaceted. Family offices often lack the short-term return pressures that institutional VCs do, so they can afford to be patient investors. Their capital is flexible, unallocated, and designed for both financial and strategic outcomes. For many, the investment decision is as much about legacy and impact as it is about returns.
The concept of multi-generational wealth preservation also plays a role. Investing in high-growth sectors like AI and biotech is about staying relevant and resilient in an unpredictable future. As a result, family offices are not only acting as financial backers but also strategic advisors and partners for the startups they invest in, leveraging their networks and industry knowledge.
Family Offices and Larger Deals
While family offices are increasingly active in the startup space, they are also involved in larger, more established deals. Their vast capital allows them to participate in buyouts, real estate developments, private equity deals, and infrastructure projects. Unlike traditional venture capital firms, family offices are not restricted to early-stage investing; they have the ability to fund growth-stage companies, engage in leveraged buyouts, and even acquire entire businesses if it align with their wealth preservation goals and strategic interests.
In 2024, there was a notable trend of family offices joining forces with private equity firms to co-invest in large-scale projects. According to Bloomberg, over $150 billion worth of deals involved family office participation alongside private equity this year. This trend is expected to continue in 2025 as family offices seek to diversify their portfolios with less volatile, income-generating assets while still maintaining exposure to high-growth opportunities.
Family Offices: The Unseen Giants
Despite the secrecy, family offices are increasingly becoming some of the most important players in the startup investment landscape. They bring to the table more than just money—they offer connections, guidance, and a patient approach to building truly transformative companies. This patient capital is exactly what many startups need, especially when tackling complex, long-horizon challenges in AI, energy, and health.
In 2024, Maelstrom, Motier Ventures, Hillspire LLC, and others provided a rare glimpse into how the wealthiest families globally are shaping the future—one startup at a time. With billions in dry powder, a nuanced approach to risk, and a keen eye on innovation, family offices are no longer content to sit on the sidelines. Instead, they’re at the heart of funding tomorrow's big ideas today.
Perhaps the biggest lesson is that the family office world—despite its guarded nature—is beginning to take on venture capital's most innovative aspects, blending it with an unrivaled capacity for long-term thinking. And that might just be the most exciting and consequential shift in the world of startup investing this year.