When it comes to venture capital, one could argue that wealthy families created the whole industry. Some of the oldest venture firms were developed as the investment arms of wealthy families – from the Phipps family (Bessemer Ventures) to the Rockefellers (Venrock). In Europe, prominent banking and investment families such as the Warburgs, Rothschilds, and Wallenbergs have had direct and indirect exposure to venture investments for centuries.
