Coordinating family entrepreneurship: When money seeks opportunity

Abstract

Family offices are dedicated to business families' comprehensive wealth management. Based on qualitative data, we explore how they additionally promote conventional and social entrepreneurship by supporting the families behind them in providing financial resources to venture capital funds or implementing family foundations. In this context, family offices rely on a sophisticated network comprising abundant financial, human, and social resources. Our findings illustrate how family offices coordinate these networks. These provide chances for family members to prove themselves. They facilitate entrepreneurial opportunities and help maintain the survival of the family and its enterprise over generations.