Wealthy families are ramping up their private investment activity, increasingly backing startups or acquiring companies through their family offices. According to Fintrx, single-family offices executed at least 24 such deals in January alone.
Luxury Empire to Security Services
Bernard Arnault, Europe’s wealthiest individual, built his fortune through luxury brands like Louis Vuitton and Moët & Chandon. Now, his family office, Aglaé Ventures, is expanding into security services. Aglaé recently joined a $12 million funding round for Belfry, a startup focused on streamlining logistics for security firms. This adds to Aglaé’s diverse portfolio, which already includes companies like Airbnb and Netflix.
AI and Healthcare Draw Major Investments
Artificial intelligence remains a key focus for billionaire investors. Indian tech mogul Azim Premji participated in a $141 million funding round for Hippocratic AI, a startup developing AI-driven tools for healthcare providers. His family office, Premji Invest, had previously co-led the company’s Series A round with General Catalyst.
Healthcare was another hot sector for family offices in January. Horizons Ventures, the investment arm of Hong Kong’s Li Ka-shing, contributed to a $27 million round for Owlstone Medical, which is working on a breath-based disease detection tool. Horizons has been backing Owlstone since 2018 and supports several other companies in the diagnostics space.
Laurene Powell Jobs’ Emerson Collective also made notable moves in biotech. It participated in a $100 million round for Umoja Biopharma, an immunotherapy startup, and co-led a $10 million investment in Teal Health, which is developing an at-home cervical cancer test. Emerson’s healthcare investments are managed by Yosemite, a firm run by Powell Jobs’ son, Reed.
Old Money Still Making Deals
While many active family offices are led by living founders, some longstanding dynasties continue to make strategic acquisitions. One such player is Bessemer Investors, which traces its roots back to steel magnate Andrew Carnegie’s business partner, Henry Phipps Jr.
Bessemer focuses on private equity investments in industrial firms. With the backing of Tencarva, a pump provider, the firm has acquired four industrial companies since 2021. Its latest purchase, Detroit Pump & Mfg. Co., was completed this month for an undisclosed amount.
With the year just beginning, billionaire family offices are signalling a strong appetite for AI, healthcare, and strategic acquisitions across diverse sectors.
