Tech billionaires' ramp up bets on AI, biotech

Investment Trends - Family offices direct deals in startups decreased by 46% year-over-year in Q3 [1] - Only 169 investments by family offices were recorded in Q3 [2] - AI, biotech, and energy were the primary sectors of interest for family office deals [1] - Peter Thiel's family office made seven investments in the quarter, including a $100 million funding round for Decart, an Israeli AI firm valued at $3 billion [2] - Michael Dell's family office invested in Harbor Health, a clinic health insurance company based in Austin [3] - Jeff Bezos and Eric Schmidt invested alongside Nvidia in a $300 million seed round for Periodic Labs, which aims to create AI scientists [4] Market Dynamics - The AI investment space is becoming crowded, making it challenging for family offices to find suitable investment opportunities [5] - Increased competition in AI fundraising and private capital is limiting the availability of large-scale private companies for investment [5] - High valuations and difficulty in accessing deals are emerging as challenges for family offices in the current environment [6]