Family offices are clamoring for AI investments

Family offices that control wealth of $5.5 trillion in 2024 are turning their attention toward artificial‑intelligence deals, says Djoann Fal, an advisor at Atlas Capital. When comparing two opportunities, one that could triple the capital in three years and another that could do so in three months, the offices prefer the faster payoff, Fal notes. Rather than committing to blind‑pool venture funds, they are buying existing shares or arranging direct deals, giving them “dry powder” to chase single‑name investments while keeping control of their money. The new generation of family offices is reported to have a higher risk appetite, particularly for AI leaders.

Deal activity peaked in 2021 with 17 460 transactions worth about $1.05 trillion worldwide. Direct‑investment exposure rose from 9 % of portfolios in 2019 to 13 % in 2021, but fell 53 % over 18 months by late 2023. By the first half of 2025 the overall volume was the lowest in a decade, yet it is now rebounding. Family offices are writing larger checks on fewer deals, a trend driven largely by the secondary market, which Fal describes as the most “de‑risked” asset in venture capital today. Fal reports that investors are willing to pay primary‑style prices for secondary‑stage risk, and that there is significant interest in $50‑$100 million stakes in companies such as Anthropic.

A February J.P. Morgan Private Bank report found that 65 % of global family offices plan to prioritize AI investments despite valuation concerns. They view AI as a powerful long‑term growth engine and are maintaining exposure while diversifying across regions, currencies and asset classes to manage concentration and macro‑economic risk. The sector’s volatility, combined with geopolitical tensions, rising debt, and recession risk, keeps many family offices on the sidelines, yet the majority are still all‑in, reflecting a continued belief in AI’s upside.