At the end of 2021, First Republic Bank and Kauffman Fellows surveyed family offices across the United States and globally to get a better understanding of their investment strategies, primarily how they invest in VC funds and make co-investments. The report summarizes our findings and includes commentary from select family offices and venture managers. The key findings include:
- Venture investing is a mainstream practice for family offices, with the vast majority of those surveyed investing in established, emerging, first-time and diverse managers.
- When investing in established venture funds, family offices ranked deal flow and sourcing as the chief pain points, while for emerging managers, a manager’s track record and credibility are the critical areas of focus.
- Co-investing alongside a fund manager is a widespread investing strategy, yet only a minority of family offices surveyed had the in-house resources to review and monitor these investments.
For the full PDF of this report, click the Download button below.