Family offices are increasingly pursuing direct investments and secondary-market stakes in AI companies rather than committing capital to traditional venture funds. Djoann Fal, a family office advisor and investor at San Francisco-based private wealth platform Atlas Capital, said clients are prioritizing opportunities that could triple their money in months rather than years. Family offices oversaw $5.5 trillion in wealth in 2024, according to Deloitte, which projected at least $9.5 trillion by 2030. UBS found alternative investments, including private equity, venture capital and private credit, represented 42% of the average family office portfolio in its 2026 report. Direct deals previously surged in 2021 before retreating as interest rates rose and returns disappointed, but activity is now recovering with larger checks concentrated in fewer transactions. The secondary market (trading existing private-company shares) is attracting buyers because it can provide exposure to companies with customer traction and revenue evidence without the diversification or control limitations of venture funds. Demand is especially strong for Anthropic and OpenAI stakes, while 65% of global family offices surveyed by J.P. Morgan Private Bank said they planned to prioritize AI investments. Wealth managers say family offices are balancing AI exposure with geographic, currency and asset-class diversification, but warn that a broad AI downturn could affect the wider stock market.