Family Offices are private wealth management structures that support wealthy families in managing, preserving and increasing their assets. They offer services such as asset management, tax planning, succession planning and legal advice. There are two main types: Single Family Office (SFO)which looks after only one family, and Multi Family Office (MFO)which supports several families.
Family offices can be of great benefit to start-ups as they often act as alternative investors. Compared to traditional venture capital companies, they often pursue a longer-term investment strategy, offer more flexible conditions and are not necessarily looking for a quick exit. In addition, family offices often have extensive networks and entrepreneurial expertise that can help start-ups to grow faster and scale sustainably.