Family O?ces Investing in Venture Capital July 2022 Venture investing in market volatilityFamily O?ces Investing in Venture Capital July 2022 Venture investing in market volatility 2 CONTENTS Foreword ........................................................................................................................................ 03 Key takeaways ............................................................................................................................. 04 Methodology................................................................................................................................. 05 Chapter 1: Family o?ces’ venture investing strategy in market volatility ....... 06 Chapter 2: Current state of venture capital .................................................................... 14 Chapter 3: Family o?ces’ venture portfolios .................................................................. 18 Appendix: Participant overview ........................................................................................... 39FOREWORD 3 2021 was a record-breaking year for global venture investment and family o?ce (FO)