In August, family offices of the ultra-wealthy made headlines by continuing to invest in new ventures despite a slow month for deal-making. According to Fintrx, these investment firms participated in 47 deals, which is nearly the same as the previous month, when they completed 48 deals. However, there’s a noticeable drop in activity compared to last year, nearly down by 50%.
Notably, several high-profile billionaires got involved in significant investments. The firms led by former Google CEO Eric Schmidt, hedge fund mogul Stanley Druckenmiller, and philanthropist Laurene Powell Jobs joined forces in an impressive $863 million fundraising for Commonwealth Fusion Systems, a nuclear fusion startup. Bill Gates’s firm, Gates Frontier, was also part of this Series B2 round, signaling strong confidence in nuclear energy’s potential.
Family offices are increasingly attracted to sectors like nuclear energy, partly due to the growing demand for power fueled by advancements in artificial intelligence. For instance, Powell Jobs’ Emerson Collective invested in FieldAI, a robotics startup that raised $314 million. This company develops technology that helps robots learn and navigate complex environments, such as construction sites. Jeff Bezos’s family office led this investment round.
Meanwhile, prominent investor Peter Thiel showed his support for defense technology by backing Stark, a German drone manufacturer, with $62 million. Thiel has a history of investing in defense tech, including drone companies since last year. His views on artificial intelligence emphasize its practical applications in military contexts; he previously stated that AI is not merely a futuristic concept but is already being used for tasks like data analysis and computer vision.
Defense tech interests are surging amid global tensions and increased military spending commitments from countries like Germany. In fact, venture capital funding in defense technology skyrocketed to $19.1 billion in the second quarter of 2025, marking a 200% increase from the previous year, according to PitchBook. These trends reveal a shift in investor sentiment, with many wealthy individuals now more open to funding defense-related projects, a sector they once avoided.
The landscape of private investments shows just how swiftly priorities can shift in response to world events. As family offices navigate these changes, their strategies reflect broader economic and geopolitical trends, helping reshape future investments for generations to come.
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