Translate family goals into limits on entrepreneurial bets.

Family Office Private Wealth Journal · Editorial research desk · 2 November 2026

Companion to Family-related goals, entrepreneurial investment behavior, and governance mechanisms of single family offices: An exploratory study by Antonia Schickinger; Philipp A. Bierl; Max P. Leitterstorf; Nadine Kammerlander.

Decision in practice

The family wants entrepreneurial exposure, while the investment committee is evaluated against a liquid-market benchmark every quarter.

Committee assignment

Define an entrepreneurial sleeve with loss capacity, holding horizon and authority to fund follow-ons. Compare commitments with the family’s ability to support them through a weak vintage.

Record and decision rule

Track unfunded follow-ons and milestone decisions. Stop new commitments when promised reserves would be double-counted.

Illustrative application by the editorial desk. The source authors did not evaluate or endorse this procedure.