AI in the family GenAI draws in the OGs

Venture capitalists and private equity firms are not the only ones betting in the GenAI race, India’s family offices too want a piece of this growth story and have been silently backing AI startups in India and abroad. Between 2021 and September 2024, Indian family offices invested close to $570 million in AI-focused companies with such allocations growing year-on-year, data sourced from market research firm Traxcn showed. Close to $259 million has been pumped in this year alone till September outpacing investments in all previous years, signalling heightened interest by the family offices in the GenAI space. GenAI investments are also half of the total investments made so far this year by family offices in startups in India.