Family Offices Invest Heavily in Geothermal Energy and Brain Implants
In September, family offices of billionaire investors made 42 direct investments across various sectors. Although the number was slightly lower than August's count, these firms continued to make significant bets on startups through large funding rounds. Notable deals included a $3.4 billion investment in AI startup Mistral by Eric Schmidt’s Hillspire and major capital infusions into clean energy firm Mazama Energy led by John Arnold and John Doerr. Mazama Energy, which focuses on geothermal technology, raised $135 million with participation from Bill Gates' venture fund. The company achieved a milestone in 2025 when it drilled rock at its Oregon site reaching record heat levels of 629°F, demonstrating the commercial viability of their approach. CEO Sriram Vasantharajan emphasized that geothermal energy is more an engineering challenge than a scientific one and highlighted the potential for large-scale power generation. Other investments included $500 million in semiconductor startup Fab2 and $250 million in Precision Neuroscience, which develops brain implants to control digital devices. These bets reflect family offices' ongoing interest in cutting-edge technologies with long-term growth potential.
Topics: Clean energy Family offices Mega-rounds Startup investments