We created this article as part of our research process for our United States single-family office database. Here, we are investigating the share of US single-family office investing in venture capital, either through direct investments, co-investments or funds.
In total, 233 US single family offices pursue venture capital investments. This represents a share of 52%. Most single-family offices with investments in venture capital can be found in California (54), which makes sense given the high density of startups and VC funds in the Bay area. Second most VC single family offices can be found in New York (45). Interestingly, the third highest count of startup and VC fund investor family offices are based in Texas (23), showing the increasing importance of Texas as startup hub.
Pittco Management: Venture Capital single family office from Memphis
Joseph R. “Pitt” Hyde III is the founder of car spare part retail firm AutoZone. The wealth of his family is managed through the Memphis-based single family office Pittco Management. The main areas the family office is investing in are managed funds, direct investments and multi-family real estate. Within the “direct investment” vertical, the Hyde single family office is targeting early and late-stage venture capital investments. The family office belongs to the most active and successful family office venture capital investors. Portfolio companies include Reddit, GrubMarket or Invoca. Exits include Precise Packaging, Captivate or OpinionLab.
Picture source: Emily Finch via Unsplash (16.01.2024)
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