Entrust Family Office on working with startups and guiding the next generation of ultra-high net worth individuals

Family offices are being recognised as key stakeholders in the startup ecosystem, observes Sreepriya N S, Co-founder and Director at Entrust Family Office. 

Commenting on the rising visibility of family offices in the investment landscape, Sreepriya says that, over the past few years, Entrust has seen a noticeable increase in interest from startups, which are inviting the family office to invest in their ventures. 

“Previously, only select investors were approached, but today, family offices are widely recognised as prominent players in the startup ecosystem,” says the co-founder. 

While startup investment may have slowed down in the recent past, ultra-high net worth individuals (UHNWIs) are being increasingly drawn to investment opportunities in sectors, entrepreneurs, and themes that align with their values, she adds. And Entrust is keen to help UHNWIs tap into these opportunities. 

Founded in 2013 by Rajmohan Krishnan, who is the principal founder and managing director of the family office, Entrust began its journey as an investment advisory firm, leveraging its core team’s background in banking and financial advisory. Soon it expanded its services to meet the needs of families, including tax management, bookkeeping, real estate, banking coordination, and estate planning. 

Today, Entrust operates as a multi-family office providing a full suite of in-house services. Its marquee clients include Infosys Co-founder Nandan Nilekani and Accel India’s Founding Partner Prashanth Prakash. 

Also Read

Swiggy IPO: Accel, Elevation Capital see over 3300% gain, Prosus likely to get Rs 4,254 Cr

India is said to have over 300 family offices—the number has grown from 45 in 2018, according to a report by PwC. The accounting firm also expects the number of family offices to rise exponentially with promoters building impressive businesses in Tier II and Tier III cities.

A family office can be set up as a single family office which manages the wealth and services of a family or as a multi family office, which provides wealth management and concierge services to a range of high net worth (HNI) clients. 

YourStory spoke to Sreepriya to understand the role family offices play in today’s startup ecosystem and how Entrust trains the next generation of wealthy individuals and establishes long-term trust with clients. 

Edited excerpts from the interview: 

YourStory (YS): Could you elaborate on how a family office helps its clients?

Sreepriya: A family office serves as a dedicated team for managing both the financial and non-financial/lifestyle needs of ultra-high net worth families. This unique structure goes beyond standard wealth management by centralising and coordinating investment management, typically through a diversified portfolio that aligns with the family’s risk tolerance and specific goals.

A family office extends its services to address a broader range of services, including real estate transactions and management, tax strategy, estate planning, legal support, philanthropy, and at times even next-generation mentoring, helping clients build a lasting legacy and efficiently transfer wealth across generations. 

 A family office also offers a suite of non-financial services that are particularly valuable for UHNWIs. These can range from concierge services and handling travel and personal requests to specialised lifestyle management, such as art advisory, and family governance structures to ensure smooth communication and decision-making within multi-generational families. 

For UHNWIs experiencing rapid wealth growth or a complex asset structure, a family office provides a streamlined, client-aligned approach. It has a dedicated team that’s familiar with the client’s unique situation, leading to more cohesive and efficient decision-making. This ‘one-stop-shop’ model allows families to preserve and grow wealth while enjoying peace of mind, knowing that both their current needs and long-term goals are comprehensively managed. 

YS: Can you share a few instances to illustrate how Entrust has uniquely addressed a client’s needs?

Sreepriya: Each client has unique needs, and we tailor our services to meet them precisely. For example, our initial clients primarily sought investment support. However, as we expanded, so did our capabilities. When a client needed help with trust structuring, we introduced in-house trusteeship services. Later, as some clients required intricate tax support, we created an internal tax team to streamline the process and avoid delays with external advisors. 

For one client with high-value properties in Bengaluru, we went beyond collaborating with local property management firms by appointing a former serviceman to manage inspections, tenant relationships, and regular maintenance. This initiative has since evolved into a dedicated real estate team. Today, our real estate services cover transactions, property management, and advisory, helping clients buy, sell, and allocate real estate assets optimally. 

 Our concierge services also cater to highly personal requests. Recently, for a client’s 50th birthday, we helped his wife rent a Rolls Royce, reflecting our commitment to providing memorable experiences beyond financial management. 

 YS: How is Entrust helping the next generation of UHNWIs manage wealth?

Sreepriya: As a boutique family office, nurturing enduring relationships with our clients is central to our role, especially in intergenerational wealth planning. When financial discussions become delicate, our clients rely on us to facilitate these conversations. Many of our clients have asked us to engage with their children, which we find to be one of the most rewarding aspects of our work. 

 For example, a client may ask us to introduce wealth concepts to their children, bridging knowledge gaps. Recently, we conducted a session for a client’s son turning 18, covering essentials from getting a PAN card to opening a trading account, providing a hands-on introduction to financial independence. 

Another key aspect is connecting young family members with peers. When a client’s daughter showed interest in establishing a trust, we arranged introductions with other young adults managing family trusts. This interaction gave her a firsthand look into the benefits and everyday realities of managing a family trust. Such peer interactions often dispel misconceptions—such as concerns about access to funds—offering a relatable and practical perspective on wealth stewardship and management. 

Through these initiatives, we foster not only financial knowledge but also a sense of community and shared understanding among the next generation. 

YS: What is the extent to which Entrust advises its clients when it comes to investment decisions?

Sreepriya: Once clients engage with us, we handle nearly all investment-related matters in close collaboration with them. Typically, it takes six months to a year for clients to adapt to our approach. Our advice and recommendations evolve with our understanding of our clients’ risk profile, investment goals, and their personal investment preferences, in the process building deep trust with the client. 

Our approach prioritises transparency, ensuring that clients are fully informed and understand our investment strategies and themes, whether in banking, technology, or other sectors. Our clients trust us to identify the most suitable investment vehicles—be it mutual funds, ETFs, or direct stock purchases. This confidence is grounded in our thorough research and tailored, strategic insights, so clients know that each recommendation aligns with their unique financial goals and long-term vision. 

Also Read

Artha Group launches fund for family offices, UHNIs to invest in growth-stage startups

YS: What are your thoughts on the venture funding slowdown in India? How are UHNWIs viewing the landscape?

Sreepriya: Startup investment has seen a slowdown in the recent past. However, UHNWI interest is resurging with many increasingly drawn to opportunities in sectors, entrepreneurs, and themes that align with their values beyond financial returns. 

 UHNWIs often have distinctive investment preferences, gravitating towards tech-enabled ventures, social impact initiatives, or familiar sectors such as food and luxury brands, rather than unfamiliar fields. Their choices aim not only at financial returns but also reflect a deeper desire to engage in the growth journey and contribute to the societal impact of these businesses. 

Family offices often prioritise investments that reflect long-term impact, potential of the sector, strength and credibility of the founding team, adding value beyond financial metrics to invest with a long-term perspective. 

Though listed equity markets have performed well in recent years, family offices anticipate potential corrections ahead, prompting a strategic shift toward private equity and startup investments. This diversification reflects a growing recognition of the value in alternative assets. 

YS: Do you think HNIs want to get directly involved with startups as compared to looking at venture capital (VC) firms to invest their money in?

Sreepriya: It’s a mix of both, but over the last four or so years, we’ve preferred direct investments in companies rather than going through VC funds. 

VC funds are relatively new in India with limited track record to evaluate their performance. So far, only a few of the funds have delivered strong returns, and this category comes with a long lock-in period. From the beginning we have tilted towards private investments, relying on our expertise in evaluating companies and making direct investment decisions. This approach also helps us avoid the additional management fee associated with VC funds. 

This preference for direct investments is common among family offices, as it allows direct access to company insights and an active role in founder interactions. However, as portfolios grow—some UHNWIs now hold stakes in 30 to 50 private companies—challenges emerge, making it increasingly difficult to track performance across so many private holdings. Unlike public companies, where updates are readily available, private investments require close, hands-on oversight. 

For clients without a dedicated in-house team, managing such large, diverse portfolios directly becomes a burden, often leading them to consider VC fund investments as a more streamlined way to gain diversified exposure while simplifying oversight. 

YS: Do you also see a rising trend of startups directly approaching family offices as well?

Sreepriya: Yes. We receive at least four to five emails related to fundraising opportunities daily, inviting us to invest in their companies–a noticeable increase over the past few years. These increased invitations clearly reflect the rising visibility of family offices in the investment landscape. Previously, only select investors were approached, but today, family offices are widely recognised as prominent players in the startup ecosystem. 

YS: Could you throw some light on your Corporate CFO service?

Sreepriya: Our Corporate CFO service began when a client, pleased with our wealth management support, asked us to extend our expertise to his startup’s financial needs. He expressed that, while his personal finances were well-managed, his startup required a stronger financial foundation, particularly for attracting top talent and managing accounts effectively. Seeing this need, we stepped in as an in-house CFO, overseeing the startup’s finances, encompassing accounts, payroll, cash flow management, income statements, and expense tracking. This role has since evolved into a dedicated service line that we call ‘Corporate CFO’. We currently manage financial operations for around 25 companies. 

Our principal founder, Rajmohan, envisioned this as an opportunity to engage with startups and private companies early on in their journeys. This form of backward integration has helped us support businesses from the outset, many of which may later become family office clients following a successful exit.