Market Insights | May 15

Top 10 Family Office Venture Investments: April 2026

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Overview

A monthly view of where the world's most private capital is being deployed — sourced from Dakota Marketplace.

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"Family offices are the least visible pools of capital in the private markets. April highlighted just how broad that activity can be in a single month — healthcare led on deal count while technology accounted for the majority of capital deployed."

— Chris Leroy, Director of Investment Research, Dakota

The List: Top 10 Direct Investments

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Analysis: Key Takeaways

Volume & Mix

51 direct family office investments in April. Venture (pre-Series D) accounted for 35 deals; growth equity 12. Dakota's Alex deMarco: family offices are "increasingly acting like venture investors," with Series A and seed activity suggesting internal teams sourcing and underwriting deals themselves.

Sector Shift

Healthcare led deal activity for the first time this year with 15 deals — nearly a third of total activity — narrowly edging out IT at 14 deals. But tech still accounted for over half of total deal value.

Structural Trend

Knight Frank's latest report finds a clear shift from capital preservation toward more active deployment, with family offices recruiting internal specialists in PE, VC, and real estate — and building operational capabilities to manage execution.

Next Gen Driving Direction

Ocorian's 2026 Global Family Office Report: next-gen family members have greater appetite for risk and tech-driven themes like AI and infrastructure. Nearly 40% now serve as ultimate decision makers on major investments.

Most Active in April

ICONIQ Capital (3 deals — Hightouch, AcuityMD, OMNI) and Emerson Collective (2 healthcare deals — Stipple Bio, Ultralight) stood out for repeat activity in the month.

Spotlight: Dolby Family Ventures

David Dolby's SF-based single-family office, founded in 2014, invests in life sciences, precision neuroscience, deep tech, aerospace, and climate tech — primarily seed through Series A with follow-ons across the portfolio lifecycle.

Source: Dakota Marketplace — the proprietary LP/GP database tracking 4,000+ global family offices and 4,500+ venture capital firms. Dakota Family Office Deal Tracker is a monthly publication covering direct investment activity by family offices globally.

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