Family offices stall deal-making during Iran conflict

▤ Summary

Family offices reduced the number of direct investments in March amid market jitters from the Iran conflict, making 39 deals—a roughly 25% month-over-month decline after adjusting for month length. Despite fewer deals, a quarter of March investments were mega-rounds over $100 million, and family offices are backing larger, riskier rounds. Jeff Bezos’s family office co-led a $1.03 billion seed for AMI Labs (Advanced Machine Intelligence) with investors including Eric Schmidt and Mark Cuban, and Azim Premji’s family office led a $450 million Series A for Rhoda AI to train industrial robots. The piece notes a broader trend of fewer but larger transactions, with global M&A value rising while deal counts fall.

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