Family offices back sustainability startups in July
Family offices maintained a steady pace of investment in July, with a notable focus on AI and a resurgence in clean energy and sustainability startups. Despite market volatility, high-net-worth investors are increasingly backing green energy projects to meet the power demands of AI infrastructure.
Why it matters
The shift highlights how the energy-intensive nature of AI development is driving capital back into the sustainability sector, potentially reversing recent ESG investment trends.
A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.
Investment firms of ultrawealthy families showed no signs of slowing down in July despite a turbulent month for markets between a sharp correction and soaring energy prices.
Last month, family offices made 57 direct investments in companies, holding steady from June, according to data provided exclusively to CNBC by Fintrx, a private wealth intelligence platform.
July's buzziest deal was a $10 billion fundraise for Jeff Bezos' Blue Origin, which included $2 billion from the Amazon billionaire's namesake family office. Bezos Expeditions is the most active family office investor thus far this year, backing five artificial intelligence startups in June alone.
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