What makes family offices different?

 Wealth advisers say family offices increasingly are devoting resources to operations such as Aurum that have the look and feel of venture capital firms but do not have to manage the demands of outside investors.

Families that first dipped into start-ups by investing with blue-chip venture capital firms and evaluating deals arranged by business acquaintances are realising they can set up their own operations.

“They need to have a team that can do diligence, that can source,” Sachdeva says.

“Basically, they’re professionalising a mini venture fund within their family offices.”