Key Takeaways From Global Investor Survey

I’m excited to share the findings from BlackRock's third bi-annual Global Family Office Report – capturing the perspectives of family offices across the world on investment priorities, challenges, and portfolio strategy in today’s shifting environment. This year, we spoke with 175 single-family offices representing 27 global markets. Here are three key takeaways from those conversations: ✅ Private markets remain central to family office portfolios, comprising 42% of all allocations in the survey. Within this space, private credit and infrastructure were favored for their yield, resilience, and inflation mitigation. ✅ AI & digital disruption have seen big strides this year, but family offices appear cautiously optimistic about AI's potential and remain in early adoption stages. Although data privacy and transparency serve as key barriers to broader implementation, 45% of those surveyed said they were investing in AI-related companies. ✅ Many family offices are seeking to collaborate with external partners to complement their in-house talent, particularly in private markets. More than half of respondents noted gaps in their internal expertise around private-market analytics (75%), reporting (57%), and deal-sourcing (63%). Thank you to the family office partners who contributed to our survey. Your perspectives were invaluable in shaping the findings and themes of this report. Read the full report here -> https://1blk.co/3ZDBOs2

Global investor surveys suggest that this market is not retreating from risk. It’s rotating toward conviction. Across conversations with allocators globally, a consistent signal emerges: 87% plan to maintain or increase exposure to alternatives this year. That’s a reallocation rooted in long-term belief in innovation. h/t iConnections ( Christopher Altomare & Steven Reichard ) The headline is about a new standard being set. Allocators are doubling down on real use cases. Over 70% are already integrating AI into investment and operational decisions. It’s no longer seen as a disruptive vertical. It’s now embedded in infrastructure. Crypto sits in a more nuanced place. Nearly half of respondents are either already invested or actively evaluating the category. In a post-hype cycle, allocators are leaning in selectively. They’re looking for mechanisms that scale trust, align incentives, and deliver clear utility. Geopolitical risk and interest rate volatility still loom large, but the directional trend is unmistakable. Allocators are shifting from passive exposure to active conviction across innovation sectors. For Web3 and AI founders, this is a signal to lead. Teams that can articulate how their product delivers fundamental value and how their token or system design reinforces long-term engagement will find the capital. But the bar has risen. The storytelling must be backed by traction. The architecture must serve more than speculation. As investors at the earliest stages, we look for builders who understand the moment. The capital is there. The next chapter belongs to those who build with clarity, resilience, and purpose.

The latest PitchBook-NVCA Venture Monitor report (brought to you by J.P. Morgan) for Q1 2025 is out! It provides a comprehensive overview of the current venture capital landscape and its implications for startups. In arguably the most volatile time that I can remember, it has some fantastic insights for #founders. Here are a few of my key takeaways: 1. Market Uncertainty and Tariffs: Significant market uncertainty, largely due to new tariff announcements has led to a cautious approach from VCs, impacting liquidity and dealmaking. Startups may face challenges in securing funding as investors wait for market stabilization. 2. AI Dominance: Despite the overall cautious environment, AI continues to be a standout sector, attracting significant investment. Startups in the AI space are likely to benefit from this trend, as VCs remain eager to invest in AI, viewing this as a parallel to the 1990s internet boom. 3. Concentration of Capital: The report highlights a concentration of capital in larger deals and exits, with a few significant transactions accounting for a large share of total VC investment. This trend suggests that while funding is available, it is increasingly directed towards established companies or those with proven potential, making it more challenging for early-stage startups to secure large raises. 4. Fundraising Challenges: The fundraising environment remains difficult, with only $10 billion raised across 87 VC funds in Q1, setting a pace for the lowest year of fundraising in a decade. This could lead to a more competitive landscape for startups seeking funding, as investors become even more selective. 5. Secondary Market Growth: The secondary market is gaining traction as a liquidity option, particularly for top-performing startups. This trend could provide an alternative exit strategy for early-stage companies, offering liquidity without the need for a public listing or acquisition. If this really opens up I think we will see our next group of great founders funded through these dollars. 6. Regional Shifts: The report notes a shift back to coastal markets, with major hubs like the Bay Area, New York, and Boston accounting for a significant portion of deal activity. Startups in these regions may find it easier to access capital compared to those in less established markets. Overall, early-stage technology companies are navigating a complex landscape in 2025 to say the least. While opportunities exist, particularly in AI, startups must be prepared to face heightened scrutiny from investors and adapt to a more selective funding environment. What are you seeing? What are your predictions for Q2 and Q3? My advice? As always it comes from the ever so wise Samuel L Jackson in Jurassic Park: "Hold on to your butts". https://lnkd.in/dNFgvFzw