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NEWS AND INSIGHTS FROM FINTRX
5 Largest Family Office Direct Deals of October 2025
Family offices aren’t slowing down. Even in a volatile market, they continue to be some of the most active and forward-thinking investors, pouring billions into AI, sustainability, and emerging tech. FINTRX family office data shows direct investment activity continuing to build momentum this fall, with October bringing several headline deals that underscore just how influential private wealth has become in shaping what’s next. Below, we unpack five major transactions and the family offices behind them.
1. Reflection Raises $2B Series B Backed by Hillspire LLC (Eric Schmidt Family Office)
Reflection, an emerging force in open foundation AI models, has closed a massive $2 billion Series B round led by NVIDIA and joined by Hillspire LLC (Eric Schmidt Family Office). The raise brings Reflection’s valuation to $8 billion and further cements its position as one of the most well-funded AI companies globally. The funding will accelerate the company’s mission to build scalable, open AI systems accessible to enterprises worldwide.
• Deal Size: $2B
• Company: Reflection
• Investors: Hillspire LLC (Eric Schmidt Family Office), NVIDIA (lead), Disruptive, B Capital, Citi, DST, Eric Yuan, GIC, 1789 Capital
• Sector: Artificial Intelligence
View Hillspire LLC (Eric Schmidt Family Office) in FINTRX
2. Big Brand Tire & Service Completes $1.625B Recapitalization with ICONIQ Capital Participation
Automotive services leader Big Brand Tire & Service finalized a $1.625 billion recapitalization through a single-asset continuation vehicle, enabling its next phase of growth. The transaction was led by Percheron Capital, with ICONIQ Capital Family Office joining alongside Blue Owl Capital and Warburg Pincus. This marks a renewed commitment to scale Big Brand’s national footprint and enhance operational efficiency within the automotive service space.
• Deal Size: $1.625B
• Company: BigBrand Tire & Service
• Investors: ICONIQ Capital Family Office, Percheron Capital (lead), Blue Owl Capital, Warburg Pincus
• Sector: Automotive Services
View ICONIQ Capital Family Office in FINTRX
3. Crusoe Secures $1.375B Series B with Winklevoss Capital Backing
Renewable-powered AI infrastructure company Crusoe has raised $1.375 billion in Series B funding, co-led by Valor Equity Partners and Mubadala Capital, with participation from Winklevoss Capital Management (Tyler & Cameron Winklevoss Family Office). The raise underscores investor confidence in Crusoe’s mission to build sustainable, energy-efficient AI computing solutions that reduce carbon emissions and costs for AI developers worldwide.
• Deal Size: $1.375B
• Company: Crusoe
• Investors: Winklevoss Capital Management, Valor Equity Partners (co-lead), Mubadala Capital (co-lead), Fidelity Management, Tiger Global, Salesforce Ventures, NVIDIA, and others
• Sector: AI Infrastructure / Sustainability
View Winklevoss Capital Management in FINTRX
4. ŌURA Raises $900M with ICONIQ Capital as New Investor
Wearable health technology pioneer ŌURA, maker of the Oura Ring, closed a $900 million funding round led by Fidelity Management and Research Company, with ICONIQ Capital Family Office joining as a new strategic investor. The raise supports ŌURA’s ongoing expansion into personalized health data and biometric wearables, building on its strong momentum from prior rounds featuring DFO Management and Legacy Knight MFO.
• Deal Size: $900M
• Company: ŌURA
• Investors: ICONIQ Capital Family Office, Fidelity Management and Research Company, DFO Management, Legacy Knight MFO, Lauder Partners
• Sector: Consumer Health / Wearable Tech
5. Bending Spoons Raises $710M Venture Round Backed by Cox Enterprises Family Office
Italian tech giant Bending Spoons, known for acquiring and scaling digital platforms including Evernote and Splice, has secured $710 million in venture funding. Cox Enterprises (Cox Family Office) joined the round alongside T. Rowe Price Investment Management, Baillie Gifford, and Durable Capital Partners. The raise values Bending Spoons at $11 billion and fuels its continued acquisition-driven growth strategy.
• Deal Size: $710M
• Company: Bending Spoons
• Investors: Cox Enterprises (Cox Family Office), T. Rowe Price Investment Management, Baillie Gifford, Durable Capital Partners, Fidelity Management, Foxhaven Asset Management, Radcliff
• Sector: Technology / Digital Platforms
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Disclaimer: This content is for informational purposes only and should not be interpreted as investment advice or a recommendation to invest in any company, security, or strategy mentioned.
Written by: Renae Hatcher |
November 13, 2025
Renae Hatcher is a member of the marketing team at FINTRX - focused on delivering targeted & relevant family office and registered investment advisor content to our subscribers.
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