Source - Chapter 3: The Rise of Private Capital Entities, Harvard press

TL;DR - Ultra wealthy individuals, including Mellon, Rockefeller, Carnegie, and the railroad “big four” needed investment vehicles meant for long term asset management. They often invested a portion of their wealth into early-stage ventures, developing into modern VC.

Helpfulness - 5

Topic Tags - Family offices, Angel, VC history, early players, incentives?

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