Sector analysis 2025: In which sectors family offices direct their capital

2025 brings diversification: Tech remains #1 (32%) but declines, healthcare and industrials grow. Find out where family offices direct their capital and how you benefit from it.

Sector analysis – industry overview for institutional investors

Diversification is the new trend

2025 will see a picture of gentle but steady diversification among family offices. No sector dominates as convincingly as before.

technologyremains the #1 asset class with 32% - but that is significantly lower than before (2022-2023: approx. 45-47%). The tech hype correction is real.

What happened instead?Capital flowed broadly: Healthcare is gaining, Industrials is stabilizing, Financial Services is growing, Consumers are also staying steady.

This is good news for founders: if your project is not in the top 5 tech niche, you have more chances than you did 2-3 years ago.

32%

Technology focus (but down from 47%)

Sector shift: 2024 vs 2025

Percentage of FO investments by sector

Legend:Negative values = decline, positive = growth. The biggest shift is tech reduction.

Technology: maturity instead of hype

32% Technology– this is still the largest single position, but with important nuances:

Software/SaaS ist stabil:Companies with recurring revenue, defensive, profitable. These are popular.
AI/Machine Learning ist heiß:GenAI hype has settled, but AI-focused companies are over-demanded.
Consumer Tech ist unsicher:E-commerce, social, digital brands have more volatile valuations. Less FO interest.
Cybersecurity und Enterprise wächst:After a lot of hacking, companies are investing. This is a trending sector.

Practical: Family offices like “boring tech” with stable profitability. They don't like Web3, NFTs, or hyper-speculative plays.

Technology sector – growth driver for investors

Healthcare & Life Sciences: The growth sector

12% Healthcare & Life Sciences– a sector with systematic tailwind.

Pharma:Blockbuster model works, but is complemented by biotech and digital therapies.
MedTech:Devices for diagnostics and therapy are growing as the population ages.
Digital Health / Telehealth:COVID normalized this, now it's a robust market.
Therapeutics:Personalized medicine and gene therapy are frontier, but with less volatility than before.

Why are family offices interested? Healthcare has consistent, stable returns, low market cycle dependency, and strong regulatory barriers (good defensibility).

Industrials, Financial Services, Consumer: Stability across the board

Industrials (8%), Financial Services (7%), Consumer Discretionary (7%)– these three together are ~22% and remain stable.

Industrials:Mechanical engineering, automation, engineering. B2B, defensive, often with generational change = opportunities.
Financial Services:Fintech, digital banking, insurtech, but also traditional finance modernization.
Consumer:Discretionary (lifestyle, digital brands) + Staples (food, essentials). Divergent, but both with opportunities.

The pattern: None of these sectors are “hyped,” but all are attractive with family office patient capital.

32% technology

12% Healthcare & Life Sciences

Healthcare sector – stable investment opportunities

8% Industrials

7%+7% Financial & Consumer

Energy and Sustainability: A Growing (But Still Small) Sector

Interestingly, traditional energy remains smaller, howeverrenewable energy and climate technologyare a growing focus:

ESG ist kein Nischthema mehr:Family offices – often with a cross-generational perspective – care about sustainability.
Energie-Effizienz, Solar, Wind:Not “hype”, but structural necessity. Stable inflow.
Circular Economy:Less waste, better materials – companies that do this are of interest to FOs.

This is a still underserved sector. For founders: If your project has a climate technology aspect, you can proactively advertise it.

Practical implication: sector-specific fundraising

This sector analysis specifically means:

Tech-Gründer:SaaS and enterprise focused well. Consumer tech and hype plays more difficult. Focus on profitability, not user growth.
Healthcare-Gründer:Good growth area. Regulatory clarity is important. FOs like if you are ready with authorities.
Industrie-Gründer:Family offices have connections to medium-sized companies. Modernizing old industries is attractive.
Nicht-oben-genannte-Sektoren:Smaller, but not unimportant. More specifically targeted at specialized MFOs with the mandate.
ESG/Nachhaltigkeit:Can serve as an additional argument, but should not be the main argument. Return comes first.

With CANVENA's sector database you can quickly see: Which family offices have exposure in my sector? How big are your investments to date? Who are the lead investors?