We created this article as part of our research process for our European single family office database. We used our keyword crawler to analyze the websites of EU family offices for generative AI keywords.
After the launch of ChatGPT in November 2022, “generative artificial intelligence” and “large language models” got increasingly important in the business and investment landscape. Within the European venture capital sector, single family offices, the investment vehicles of wealthy families, are playing an essential role. We analyzed the websites of the 839 largest European single family offices for occurrences for generative Ai keywords.
Increasing number of generative AI keywords mentioned on family office websites
In total, 706 family offices in our European databases have websites, which we crawled with our sophisticated crawler technology for keywords like “generative ai”, “chatgpt” and “openai”. Of course, many family offices are not mentioning their detailed investment focus or are not keeping their website up-to-date. However, our study gives unique insights in the importance of generative AI for family office investors.
In total, the number of family offices mentioning generative AI keywords increased from 2 to 6 from 1st December, 2022 to 5th July, 2023. In total, generative AI keywords were mentioned 994 times. One of the family offices mentioning generative AI on its website is Motier Ventures, the tech-focused venture capital arm of the French family office of the Galeries Lafayette owners. Motier Ventures is investing up to €300K in initial funding rounds. Upcoming portfolio companies include the “Zapier of generative AI” – thereby underlining the importance of the novel technology for family offices.
Picture source: Chris Reid