GoKawiilAzim Premji, Founder Chairman of Wipro, speaks during the inauguration of the Wipro Hydraulic Plant in Jaipur, Rajasthan, India, on Aug. 22, 2024.
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 ultra-wealthy families dialed back their deal-making in March as the Iran conflict rattled the market.
Family offices made 39 direct investments in companies last month, a 25% drop from February when adjusted for month length, according to data provided exclusively to CNBC by Fintrx, a private wealth intelligence platform.
That said, the family offices that are still inking deals are making bold bets. A quarter of last month's investments were part of mega-rounds, or fundraises in excess of $100 million, according to Fintrx.
In March, Jeff Bezos' namesake family office co-led a $1.03 billion seed round for Advanced Machine Intelligence. Also known as AMI Labs, the new startup is training artificial intelligence models on real-world sensory data, rather than text.
Other boldface-name billionaires such as ex-Google CEO Eric Schmidt and serial entrepreneur Mark Cuban also participated in the fundraise.