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. While deal-making on Wall Street typically picks up in the fourth quarter, the investment firms of the ultra-rich appear to be in no hurry to close deals by year-end. In November, family offices made 55 direct investments in companies, down 5% from the prior month, according to data provided exclusively to CNBC by private wealth platform Fintrx. This tally is also a 37.5% drop on an annual basis, in line with this year’s muted deal-making , as family offices grapple with tariff uncertainty and geopolitical conflict. That said, November was a busy month for Jeff Bezos ‘ eponymous family office. Bezos Expeditions made at least four direct investments, including co-leading a $106 million round for Profluent. The biotech startup uses generative artificial intelligence for gene-editing. A slew of billionaire family offices are also investing in the potential of AI to improve how diseases are tracked and treated. Aglaé Ventures, the firm of LVMH CEO Bernard Arnault, joined a $298 million Series B round for Function Health, which provides regular lab testing for health tracking and early disease detection. Roku ‘s billionaire founder Anthony Wood and NBA star Blake Griffin also participated in the fundraise. John Doerr’s Foris Group and Kleiner Perkins, the venture capital firm he managed until 2016, invested in a $126 million round for Hippocratic AI. Now valued at $3.5 billion, Hippocratic AI develops AI agents that conduct non-diagnostic services like medication re …
