Even as family offices explode in size and number, they're increasingly prone to "group think" when it comes to investing, according to Tim Draper, a leader in early-stage venture capital.
"There is a little bit of group think that happens in family offices," said Draper, founder of Draper Associates .
"One leading family office says 'we're going to do middle market buyouts' and then they all do it.
Family offices in recent years have quickly piled into certain asset classes, like private credit, direct deals and secondary private-equity, as they follow larger family offices.
"In some ways we are are a family office, its just a decentralized family office."
Persons:
they're, Tim Draper, Draper, Jesse, Adam, Jesse Draper, Draper's, Tim
Organizations:
Draper Associates, Skype, Ventures