Raising capital from family offices
What deal sizes do family offices typically write?
Short answer
There is no single typical size. In my experience family offices write checks from about a million dollars up to thirty million or more, and the size depends on the office, the asset class and the relationship. Some also deliberately write a smaller check than they could, so other investors can join the deal.
The honest answer is that it varies a lot. After running about 150 workshops and summits at Family Office Club, I have seen deals of nearly every size get done in one room. That range is the useful part.
Real examples from our events
At one of our investor events I put up a slide of deals closed from that room. One person went to dinner after an event and landed 20 million dollars in seed capital. Another called on an investor in the Family Office Club and landed a 40 million dollar check. A smaller group of private investors closed a 1.1 million dollar real estate acquisition. And one person signed a 250 million dollar co-GP JV term sheet after meeting a family office there.
This opening talk shows the range of deals closed from a single Family Office Club event, from about one million to 250 million dollars.
So the range runs from around a million dollars to eight and nine figures. Those are examples of what has happened, not a rule for what any one office will do. Each family office sets its own appetite.
Why the checks you pitch may look small to them
If you are used to raising from individuals at fifty or a hundred thousand dollars, the scale shifts when you approach a family office. An office that can write a one million, five million or thirty million dollar check sees a lot of deal flow. What they call unusual may be different from what you call unusual.
"That person probably sees so much deal flow because they have the ability to write $1 million, $5 million and $30 million checks."
That is why I tell people to test their ideas with family offices at events before a formal pitch. Pick the one best opportunity. Do not bring seven things at once.
This talk covers what makes a deal stand out to investors who can write checks of this size.
Summary and key takeaways from this video
Capacity is not the same as the check they write
Being able to write a big check does not mean they will. In a co-investment panel, one sponsor said many of their investors could buy a whole deal on their own. They often ask those investors to write a smaller check on purpose. They want room for other groups and they want to keep a co-investment approach rather than a JV.
Another panelist said they would rather deal with one or two primary investors per property than twelve. So the size depends on how the sponsor builds the equity stack, too.
In this panel, sponsors explain why they ask capable investors for smaller checks and how relationships drive co-investment.
Relationships matter more than a number. One panelist put it simply, that the relationship is more important than the capital. Check size comes after trust.
Many people who raise money talk to a securities attorney about how they approach offering a deal.
More from my talks
One more thing on size. Check size often follows what the office can diligence, not just what it can afford. In my experience, many families would rather put money in a direct deal than a fund, but big multifamily offices and institutions often do not have time to diligence every deal, so they often prefer funds and may write bigger checks to funds. And if you raise at 100,000 dollars a check today, prepare for diligence a good half level above where you are now, so you are ready for the next tier.
"Most family offices, and families, would rather put money in a direct deal than a fund, but big multifamily offices and big institutions don't have time to do diligence on every deal. They typically do prefer the funds and will write bigger checks to funds."
"Speed is really important, and also make sure that you're preparing for due diligence that is a good half level above where you are now. If you are typically raising capital at $100,000 per check and you want to go to the family office level, or go from family offices to institutions, then be ready for institutions when you're at family offices."
Facts and figures
- A 250 million dollar co-GP JV term sheet was signed by someone who met a family office at a Family Office Club event.
- Some family offices can write one, five or thirty million dollar checks, far above the fifty to one hundred thousand dollar range many raisers are used to.
- One sponsor said most of their investors could buy a whole deal alone, yet they ask for smaller checks to leave room for other groups.
Sources
From Richard C. Wilson's Centimillionaire Strategies YouTube channel: Richard C. Wilson - Opening Remarks - Private Investor Deal Flow Expo - The Family Office Club, Top 5 Strategic Investor Conversations in 2026 + 3 AI Developments to Watch, Co-Investing: How to Partner with a Family Office to Close Your Deal. Quotes come from the video captions, lightly edited for readability. Figures are the speakers' own estimates and experience.
General education only. Not legal, tax or investment advice.
Talk to a securities attorney to explore options around deal offering process, investor eligibility rules and co-investment structuring. Do not use AI to write your own legal agreements.
Where to start
- Decide the check size that fits your deal, then look for offices that already write that size.
- Test your opportunity with family offices at events before a formal pitch.
- Choose your single best deal and make it simple to explain.
- Leave room in the equity stack if you want several investors to take part.
- Many sponsors talk to a securities attorney before they share a deal with investors.
Follow-up questions
Do family offices write checks under one million dollars?
Some do. At our events I have seen a 1.1 million dollar real estate acquisition done with a few smaller private investors. Each office sets its own range.
Why would a family office write a smaller check than it can afford?
Some sponsors ask for smaller checks on purpose to leave room for other investors. They want to keep a co-investment approach rather than rely on one large partner.
Should I pitch a family office the same way I pitch individual investors?
No. Offices that write million dollar checks see a lot of deal flow, so your opportunity needs to stand out and be easy to understand. Meeting in person and showing the asset helps.
Related questions
- What is the difference between single and multi-family offices?A single family office works for one family and is built the way that family wants.
- How do I find the decision maker at a family office?Start by meeting the family through advisors, events and the people who manage their investments.
- Do family offices co-invest alongside other investors?Yes, many family offices invest alongside other investors, and they often feel more comfortable when another respected investor is already in the deal.
- Do family offices invest in funds or only direct deals?Family offices do both.
Work through it with the investor meeting follow-up checklist. See all raising capital from family offices resources.