After a quiet spring, family offices ramped up their direct investments in June, completing 60 deals—up from 47 in May—according to data from Fintrx shared with CNBC. Although overall activity remains down 40% year-over-year, momentum appears to be returning.
Biotech and healthcare emerged as standout sectors, drawing strong interest from ultra-wealthy investors seeking both impact and long-term returns. Nine of the June deals were in these sectors, including a $56 million Series C round for Antheia, a synthetic biology firm producing pharmaceutical ingredients. Backers included Athos KG—founded by the Strüngmann brothers of BioNTech fame—and S-Cubed Capital, led by former Sequoia partner Mark Stevens.
Antheia’s CEO, Dr Christina Smolke, a Stanford professor and biotech entrepreneur, said family offices are well-suited to fund scientific innovation thanks to their patient capital. “These are long-cycle challenges,” she told CNBC. “Family offices have the ability to stay the course and align with the pace needed to bring breakthrough healthcare technologies to market.”
Antheia recently launched its first product—thebaine, used in Narcan—and is now expanding production into the U.S. It’s developing over 70 ingredients for essential medicines, aiming to rebuild global pharmaceutical supply chains and prevent drug shortages.
Other notable June deals included a minority stake in indie studio K2 Pictures by Yamauchi No. 10 Family Office (of Nintendo’s founding family) and a $20 million round for sports club Ballers, backed by Blackstone’s David Blitzer and tennis legend Andre Agassi.
While the entertainment sector saw some eye-catching moves, biotech appears to be the strategic focus for family offices looking to back scalable, meaningful innovation. As Smolke noted, “Biotech touches everyone. It’s a problem people feel personally—whether it’s a missing antibiotic or empty pharmacy shelves.”
