謝文淵Joseph Hsieh
繁简EN日

每週觀察

每週整理四類新聞：全球影響力投資、全球創業投資、台灣創投、家族辦公室。摘要附原文連結。

2026 年 10 月第 1 週

全球影響力投資

ESG Today2026-09-28

紐約市審計長擬向三大退休基金提出50億美元私募氣候投資

紐約市審計長Mark Levine將向NYCERS、TRS、BERS三支退休基金提出50億美元私募市場氣候解決方案投資機會，涵蓋再生能源、電網與建築減碳。市府退休基金規模近3,000億美元，目標2035年氣候投資378億美元、2040年淨零。

學習單字
  • climate solutions investing氣候解決方案投資：投入減碳、能源轉型與氣候調適等可量化解方的資產配置策略
  • fiduciary review processes受託審查程序：基金受託人依受託責任對投資案進行的審核與核准流程
  • resilient energy infrastructure具韌性的能源基礎設施：能承受極端氣候與供應中斷的電網、儲能等設施

NYC Comptroller to propose $5 billion in new private-markets climate investments

NYC Comptroller Mark Levine plans to bring $5 billion of private-market climate deals to the NYCERS, TRS and BERS pension boards, spanning renewables, grids and building decarbonization. The ~$300 billion city pensions target $37.8 billion in climate investments by 2035 and net zero by 2040.

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ESG Today2026-09-28

摩根大通自然資本攜手巴拉圭 啟動2億美元永續林業平台

J.P. Morgan Natural Capital與巴拉圭總統府、當地企業集團Grupo Robinson合作，投入約2億美元建立永續林業平台，結合商業造林、原生林復育，並產出木材與碳權，預計2027年初開始撥款，凸顯自然資產進入機構投資組合。

學習單字
  • nature-based assets自然型資產：林地、農地等以自然生態為基礎、可產生收益的實體資產
  • carbon credits碳權（碳信用）：經認證的減碳或移除量，可交易用於抵換排放
  • native forest restoration原生林復育：以當地原生樹種恢復退化森林生態

J.P. Morgan Natural Capital and Paraguay launch $200 million sustainable forestry platform

J.P. Morgan Natural Capital is partnering with Paraguay's Office of the President and local group Grupo Robinson on a roughly $200 million forestry platform combining commercial plantations, native forest restoration, timber and carbon credits. Deployment is due to start in early 2027, reflecting nature's rise as an institutional asset class.

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ESG Today2026-09-28

法國農業信貸成立自然資本部門 旗下Amundi推2億歐元森林復育基金

法國農業信貸集團成立自然資本部門，由Timothée Jaulin領軍，初期聚焦歐洲森林；旗下資產管理公司Amundi推出森林生態復育基金Amundi Arbora Nova，長期目標2億歐元，集團並獨家洽購EcoTree多數股權，顯示大型銀行布局自然資本。

學習單字
  • natural capital自然資本：森林、水、土壤、生物多樣性等能提供經濟價值的自然資源存量
  • ecosystem restoration生態系復育：恢復受損生態系統的結構與功能
  • carbon sequestration碳封存（固碳）：透過森林或技術將二氧化碳長期儲存

Crédit Agricole launches natural capital division; Amundi targets €200 million forest restoration fund

Crédit Agricole set up a Natural Capital division, Crédit Agricole Capital Naturel, headed by Timothée Jaulin and first focused on European forests. Its asset manager Amundi launched Amundi Arbora Nova, aiming to raise €200 million over time for forest restoration, and the group is in exclusive talks to buy a majority of EcoTree.

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ESG Today2026-09-29

荷蘭Achmea攜手ILX 為退休基金打造新興市場債權影響力平台

荷蘭保險集團Achmea旗下資產管理公司與ILX合作，為荷蘭退休基金設計新興市場債權影響力投資工具，主要承接多邊開發銀行與開發金融機構的貸款，聚焦氣候、生物多樣性、健康與平等，規模未揭露，屬公私資本銜接的混合模式。

學習單字
  • development finance institutions開發金融機構（DFI）：由政府支持、投資開發中國家民間部門的金融機構
  • private credit私募信貸：非銀行機構直接提供、不在公開市場交易的貸款
  • institutional investors機構投資人：退休基金、保險公司等管理大額資金的法人投資者

Achmea and ILX team up on an emerging-markets debt impact platform for Dutch pensions

Achmea Investment Management and ILX Management are building an emerging-markets debt impact vehicle for Dutch pension funds, mainly holding loans originated by multilateral development banks and DFIs with explicit impact goals in climate, biodiversity, health and equality. Size was not disclosed; it is a model for linking public and private capital.

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ESG Today2026-09-30

Actis推印度第四個再生能源平台Leo Energies 目標逾3GW

General Atlantic旗下Actis在印度成立再生能源平台Leo Energies，目標建構逾3GW風電、太陽能與儲能組合，已簽約收購約650MWp、橫跨五個邦的運轉中太陽能案場，並有長期購電合約；這是Actis在印度第四度複製併購整合策略。

學習單字
  • buy-and-build strategy併購整合策略：先取得平台資產，再持續收購同業擴大規模
  • power purchase agreements購電協議（PPA）：發電方與買方約定長期價格與購電量的合約
  • independent power producers獨立發電業者（IPP）：非公用事業體、自建電廠售電的民營業者

Actis launches Leo Energies, its fourth Indian clean energy platform, targeting over 3GW

General Atlantic-owned Actis launched Leo Energies in India, aiming for a portfolio of over 3GW of wind, solar and storage. It has agreed to buy about 650MWp of operating solar across five states under long-term PPAs, marking Actis's fourth Indian renewables platform built through a buy-and-build approach.

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Private Equity Wire2026-10-01

TPG第二檔氣候私募基金募得100億美元

據彭博報導，TPG第二檔氣候私募基金TPG Rise Climate II募得100億美元並於9月底截止募資；阿布達比氣候投資機構Alterra投入約10億美元。Rise Climate平台總承諾額達171億美元，顯示大型LP對能源轉型仍具信心。

學習單字
  • carve-outs分拆收購：買下大型企業剝離出售的事業部門
  • growth equity成長型股權投資：投資已有營收、需資金擴張的企業，多為少數股權
  • low-carbon technologies低碳技術：可大幅減少溫室氣體排放的能源與工業技術

TPG raises $10 billion for its second climate private equity fund

TPG has raised $10 billion for TPG Rise Climate II, which was due to close to new money at end-September, Bloomberg reported. UAE-backed Alterra committed around $1 billion. The Rise Climate platform had $17.1 billion in total commitments as of August, a sign large LPs still back the energy transition.

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ESG Today2026-09-30

英國FCA放棄強制氣候揭露 改採「遵循或解釋」

英國金融行為監理總署FCA放棄上市公司強制氣候揭露，改將UK SRS S1與S2全面採「遵循或解釋」，保留範疇三寬限；新制適用2027年1月1日起的會計期間、2028年首度申報，可能削弱投資人取得一致氣候資訊。

學習單字
  • comply-or-explain遵循或解釋：未依規範揭露者須說明理由的監理機制
  • Scope 3 reporting範疇三揭露：揭露供應鏈與產品使用等價值鏈間接排放
  • decision-useful有助決策的：資訊足以支援投資人判斷與決策

UK FCA drops mandatory IFRS-based climate reporting in favour of comply-or-explain

The FCA scrapped plans to make climate disclosures mandatory for UK listed companies, applying comply-or-explain to all UK SRS S1 and S2 requirements while keeping Scope 3 relief. Rules cover periods from 1 January 2027, with first reports in 2028, which may leave investors with patchier climate data.

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Pioneers Post2026-10-02

越南加入GSG Impact，成第44個國家夥伴、亞太第13個

Vietnam Impact Alliance成為GSG Impact第44個國家夥伴、亞太第13個，使GSG Impact Partnership涵蓋國家增至49個；將串連政府、投資人、企業與公民社會發展影響力經濟，回應越南氣候轉型與包容性成長的資金需求。

學習單字
  • impact economy影響力經濟：將社會與環境影響納入投資、消費與政策決策的經濟體系
  • inclusive growth包容性成長：讓不同族群公平分享經濟成果的成長模式
  • climate transition氣候轉型：經濟體朝低碳、具氣候韌性方向的結構轉變

Vietnam becomes GSG Impact's 44th National Partner and 13th in Asia Pacific

Vietnam Impact Alliance became GSG Impact's 44th National Partner and the 13th in Asia Pacific, taking the GSG Impact Partnership to 49 countries. It will convene government, investors, business and civil society to build Vietnam's impact economy as the country seeks capital for its climate transition and inclusive growth.

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ESG Today2026-09-29

德國燃料電池新創Reverion完成1.75億美元B輪 多家影響力投資人參與

德國固態氧化物燃料電池新創Reverion完成1.75億美元B輪，由Kembara領投，Aurum Impact、Carbon Equity等影響力投資人跟投；電廠發電效率達74.2%，搭配生質氣與碳封存可達負排放，產能將擴大十倍至250MW。

學習單字
  • dispatchable可調度的：能依電網需求隨時啟停或調整出力的電源
  • negative emissions負排放：從大氣移除的二氧化碳多於排放量
  • electrolysis電解：以電力分解水等物質以產製氫氣

Reverion raises $175 million Series B for carbon-negative-capable power plants

German fuel-cell startup Reverion raised a $175 million Series B led by Kembara, joined by Energy Impact Partners, Aurum Impact and Carbon Equity among others. Its plants reach 74.2% electrical efficiency and can deliver negative emissions with biogas and carbon storage; it plans a tenfold capacity jump to 250 MW.

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全球創業投資

Help Net Security2026-10-01

Mandiant創辦人新創Armadin完成2.55億美元B輪，估值逾25億美元

資安新創Armadin完成2.555億美元B輪，由a16z與Accel共同領投，估值逾25億美元，累計募資達4.45億美元，距離脫離隱身模式僅約七個月。以AI代理自動化攻擊測試的資安平台，正成為創投追逐的熱門賽道。

學習單字
  • co-led共同領投：由兩家以上投資方共同擔任本輪主導投資人
  • go-to-market市場推進（GTM）：產品上市、銷售與通路布局的整體策略
  • offensive security攻擊型資安：模擬駭客攻擊以找出漏洞的防禦方法

Armadin, Kevin Mandia's agentic security startup, raises $255.5M Series B at $2.5B+ valuation

Armadin closed a $255.5M Series B co-led by a16z and Accel, valuing it above $2.5B and lifting total funding to $445M, roughly seven months after leaving stealth. Investors are betting heavily on AI agents that probe enterprise defenses like attackers.

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Fierce Healthcare2026-09-29

租屋與醫療AI新創EliseAI募資3.5億美元，估值40億美元

服務租屋與醫療業的AI新創EliseAI募得3.5億美元，由a16z與Bessemer領投，估值達40億美元；年度經常性收入6月已突破2億美元，營收連續五年年增翻倍。顯示垂直領域AI應用已能以營收撐起高估值。

學習單字
  • annual recurring revenue年度經常性收入（ARR）：訂閱制企業每年可預期的穩定營收
  • agentic AI代理型AI：能自主規劃並執行多步驟任務的AI系統
  • year-over-year年增（YoY）：與去年同期相比的變化

EliseAI raises $350M at a $4B valuation

EliseAI raised $350M led by a16z and Bessemer at a $4B valuation, after passing $200M in annual recurring revenue in June and doubling revenue for five straight years. It shows vertical AI apps can now justify unicorn-plus prices with real revenue.

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Calcalist (CTech)2026-09-29

以色列國防科技創投Protego完成首檔1.25億美元基金

Protego Ventures首檔基金以1.25億美元完成募集（首次關帳7,000萬美元），專投技術經實戰驗證的以色列國防新創；投資組合XTEND已以15億美元估值於紐約證交所上市，二號基金將擴大美國布局。

學習單字
  • initial closing首次關帳：基金募資第一階段完成，可開始投資
  • generalist investors綜合型投資人：不專注特定產業、廣泛投資的創投
  • early-growth-stage早期成長階段：已有營收、正準備規模化的企業

Protego Ventures closes debut $125M fund for Israeli defense tech

Protego Ventures, founded by Lital Leshem and Lee Moser, completed its $125M Fund I ($70M at first closing plus $55M) to back battle-tested Israeli defense startups. Portfolio firm XTEND listed on the NYSE at a $1.5B valuation; Fund II will lean into the US.

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Inc422026-09-30

印度第三季新創募資22億美元年增5%，投資人轉趨挑剔

Inc42統計，印度新創第三季募資22億美元、年增5%，交易數卻降13%至210件；四筆億美元級大案與A/B輪（年增38%）帶動成長，AI類達4.38億美元、年增265%，資金集中於少數標的。

學習單字
  • high-conviction bets高信念押注：投資人深具信心而集中重押的標的
  • secondary buyouts次級收購：私募基金之間轉手買賣持股的出場方式
  • ticket size單筆投資金額：每筆交易投入的資金規模

India's Q3 startup funding edges up 5% to $2.2B as investors get selective

Indian startups raised $2.2B in Q3 2026, up 5% YoY, while deal count fell 13% to 210, per Inc42. Four $100M+ rounds and a 38% jump in Series A–B money drove growth; AI funding hit $438M, up 265%, as capital concentrates in fewer bets.

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KED Global2026-10-01

南韓前九月創投投資破10兆韓元，創四年新高

南韓新創今年前九個月獲創投投資達10兆韓元（約74億美元），為2022年科技榮景後首度突破此門檻；AI晶片、生技醫療（約2兆韓元）與機器人交易帶動，平均單筆規模翻倍以上。外資創投與資產管理公司也加速進場。

學習單字
  • deal size交易規模：單筆投資案的金額大小
  • oversubscribed超額認購：投資意向超過原訂募資金額
  • deep-tech深科技：以尖端科研為核心的硬科技領域

Korea's VC investment tops ₩10 trillion in nine months, a four-year high

VC investment in South Korean startups reached ₩10 trillion ($7.4B) in the first nine months, crossing that mark for the first time since the 2022 boom. AI chips, biotech and healthcare (about ₩2 trillion) and robotics led, and average deal size more than doubled.

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Seoul Economic Daily2026-09-30

韓國創投公司以大企業共生基金成立首檔影響力母基金

韓國創投公司（KVIC）9月30日宣布，運用KB金融集團捐入大中小企業共生合作基金的30億韓元成立母基金，並將募集至少50億韓元子基金投資影響力企業。此舉源於施行令修法，首度讓企業共生資金流入創投合夥。

學習單字
  • fund of funds母基金：投資於其他基金而非直接投資企業的基金
  • sub-funds子基金：由母基金出資、交由各管理團隊運作的基金
  • impact companies影響力企業：同時追求財務報酬與解決社會問題的企業

Korea Venture Investment launches first fund of funds using corporate partnership money

Korea Venture Investment Corp. formed a fund of funds on Sept 30 using ₩3B that KB Financial Group put into a large-small business cooperation fund, aiming for at least ₩5B in sub-funds for impact companies. A revised enforcement decree now lets such corporate money flow into VC partnerships.

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DealStreetAsia2026-10-02

傳HarbourVest收購新加坡GIC十億美元私募基金組合

據報導，私募市場資產管理公司HarbourVest將以次級交易方式，買下新加坡主權基金GIC規模10億美元的私募基金投資組合，取得多元化基金權益。亞洲大型LP持續透過次級市場調整私募配置，帶動交易量成長。

HarbourVest reportedly buys GIC's $1B private fund portfolio in secondary deal

HarbourVest is reported to be acquiring a $1B portfolio of private fund stakes from Singapore sovereign fund GIC in a secondary transaction, giving it a diversified pool of fund interests. Large Asian LPs are increasingly using secondaries to rebalance private-market exposure.

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DealStreetAsia (Reuters)2026-10-03

澳洲資料中心Firmus定價50億美元IPO，估值兩個月近三倍

Blackstone與Nvidia支持的澳洲資料中心商Firmus以每股11澳元定價50億美元IPO，估值306億美元，較8月初的105億美元近三倍，10月23日在澳洲證交所掛牌；約300億美元負債令部分基金經理卻步。

Firmus prices $5B IPO as valuation nearly triples in two months, splitting investors

Blackstone- and Nvidia-backed Australian data-centre operator Firmus priced its $5B IPO at A$11 a share, for a $30.6B equity valuation, nearly triple its $10.5B mark in early August. It lists on the ASX on Oct 23, but ~$30B of debt and execution risk worry some fund managers.

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Vestbee2026-09-29

歐洲第三季新募21檔創投基金，Index、Accel大額加碼AI與國防

Vestbee盤點歐洲第三季新募21檔創投基金：Index Ventures募20億美元、Highland Europe第六期11億歐元、Accel第九檔歐洲基金8億美元。AI仍是主軸，國防與軍民兩用資金持續擴大，Airbus等國防企業也成為LP。

學習單字
  • dual-use軍民兩用：同時可用於民間與國防用途的技術
  • first close首次關帳：基金達到首階段募資並開始運作
  • anchor LP基石出資人：在基金早期大額承諾、帶動其他LP的出資者

Europe's Q3 VC fundraising: Index, Highland and Accel lead 21 new funds

Vestbee tallied 21 new European and CEE VC funds in Q3: Index Ventures raised $2B (its growth vehicle now $2.2B), Highland Europe €1.1B for Fund VI and Accel $800M for its ninth European fund. AI is the common thread, while defence and dual-use capital keeps growing, with Airbus among new LPs.

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台灣創投

SiliconANGLE2026-09-30

GMI Cloud 完成 2.23 億美元 B 輪，另獲 4.4 億美元授信擴張全球算力

台灣AI雲端算力新創GMI Cloud完成2.23億美元B輪，由ARCHIV領投、輝達與趨勢科技等參投，並取得中國信託4.4億美元授信，合計約6.63億美元，將擴建全球資料中心並深化日本主權AI布局，是台灣AI基礎設施新創少見的大型募資。

學習單字
  • credit facility授信額度／融資額度：銀行承諾在一定額度內可隨時動用的借款安排
  • inference workloads推論工作負載：AI 模型上線後實際回應使用者請求所需的運算量
  • neocloud新型雲端業者，專門出租GPU算力給AI訓練與推論的雲端服務商

Taiwan-based GMI Cloud closes $223M Series B plus $440M credit facility

GMI Cloud, a Taiwan-based GPU cloud provider, closed a $223M Series B led by ARCHIV with Nvidia and Trend Micro participating, plus a $440M credit facility from ChinaTrust, about $663M in total. Funds will expand data centres globally and its sovereign AI push in Japan — a rare mega-raise for a Taiwanese infrastructure startup.

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Meet創業小聚2026-10-01

資安新創 TRAPA 獲日本 GMO 集團投資，攻防演練平台進軍日本

台灣資安新創菱鏡TRAPA獲日本上市公司GMO網路集團旗下GMO Cybersecurity by Ierae策略投資，對方取得攻防演練平台TRAPA CYBER RANGE日本獨家代理。TRAPA已服務逾百家大型企業，此案是其首度跨足海外市場。

Security startup TRAPA wins investment from Japan's GMO group to enter Japan

Taiwanese cybersecurity startup TRAPA received a strategic investment from GMO Cybersecurity by Ierae, part of listed GMO Internet Group, which gains exclusive Japan rights to its TRAPA CYBER RANGE drill platform. Serving 100+ large enterprises at home, TRAPA makes Japan its first overseas market.

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經濟日報2026-10-01

聯齊 NextDrive 奪日本 HEMS 市占第一，東證 IPO 輔導持續推進

台灣能源物聯網新創聯齊NextDrive以42.9%拿下日本HEMS閘道器市占第一，遠超第二名的25.7%，並連續三年入選東證「Asia Startup Hub」，東證動員逾62家金融機構協助其在日上市，是台灣新創赴日IPO的指標案例。

NextDrive tops Japan's HEMS gateway market as it advances toward a TSE IPO

Taiwanese energy-IoT startup NextDrive holds 42.9% of Japan's HEMS gateway market, well ahead of the runner-up at 25.7%. Picked for the TSE Asia Startup Hub three years running, it has over 62 financial institutions mobilised to support a Tokyo listing — a bellwether for Taiwanese startups eyeing Japan IPOs.

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中央社2026-10-04

數發部百億 AI 投資方案鬆綁，主要營運在台的境外公司也可納投

數發部「加強投資AI新創實施方案」放寬資格，在台研發、營收或員工占比達50%以上的境外公司也可獲投。方案截至8月已投資10家，國發基金出資約2.55億元、帶動民間約5.7億元，有助留住赴海外設控股的台灣AI團隊。

MODA's NT$10B AI startup investment plan opens to offshore firms operating mainly in Taiwan

Taiwan's digital ministry widened its NT$10B AI startup co-investment plan to offshore companies with at least 50% of R&D, revenue or staff in Taiwan. By August it had backed 10 firms with about NT$255M from the National Development Fund, drawing some NT$570M in private money — a bid to keep Taiwanese AI teams with overseas holding structures in reach.

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Meet創業小聚2026-10-02

4 家台灣新創入選《富比士亞洲》年度「100 to Watch」榜單

第六屆《富比士亞洲》「100 to Watch」榜單中，台灣有新析生物、科飛數位、歐姆佳科技與采風智匯4家入選，涵蓋醫療、電動車軟硬體與射頻測試；其中新析7月完成2,000萬美元A輪延伸、科飛年初完成430萬美元Pre-A。

Four Taiwanese startups named to Forbes Asia's 100 to Watch list

Four Taiwanese startups made the 6th Forbes Asia 100 to Watch list: Syncell, KopherBit, Ohmplus Technology and AimFolds, spanning medtech, EV control systems and RF testing. Syncell closed a $20M Series A extension in July and KopherBit a $4.3M pre-A early this year, signalling regional recognition of Taiwan's deep tech.

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Meet創業小聚2026-09-29

邊緣 AI 檢測新創 Overview 預估今年營收 3,000 萬美元，研發團隊移回台灣

由台灣創辦人參與共創的美商奧維達Overview，以邊緣AI視覺檢測切入製造業，預估2026年營收3,000萬美元、年成長3倍，並於8月將研發團隊移回台灣，在台員工逾40人；先前曾募得約1,300萬美元A輪與過橋輪。

Edge-AI inspection startup Overview projects $30M revenue, moves R&D back to Taiwan

Overview, a US-registered edge-AI visual inspection company co-founded with a Taiwanese founder, projects 2026 revenue of $30M, tripling year on year, and in August moved its R&D team to Taiwan, now 40+ staff there. It earlier raised about $13M across Series A and bridge rounds.

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Meet創業小聚2026-09-29

YC Startup School 11 月首度來台，申請題目透露選人邏輯

美國頂尖加速器Y Combinator將於11月12日在台北舉辦免費的Startup School，邀4位YC校友講者，含DoorDash與Xendit創辦人，涵蓋MVP、成長與募資等課程；申請表重視實作成果與人脈，顯示YC對台灣創業者的興趣升溫。

Y Combinator's Startup School comes to Taipei on Nov 12

Y Combinator will hold a free Startup School in Taipei on November 12, with four YC alumni speakers including founders from DoorDash and Xendit, covering MVPs, growth and fundraising. Its application stresses shipped work and founders' networks, a sign of YC's growing interest in Taiwanese founders.

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工商時報2026-10-02

證交所攜手 AAMA 辦分享會，協助新創邁向創新板 IPO

臺灣證券交易所與AAMA合辦「從IPO準備到市場溝通」分享會，吸引17家、約23位企業代表參加，涵蓋AI、生醫與雲端等領域，並邀9月22日掛牌創新板的新創創辦人現身說法，持續為創新板培養上市案源。

TWSE teams up with AAMA to coach startups on Taiwan Innovation Board IPOs

The Taiwan Stock Exchange and AAMA held a session on moving from IPO preparation to investor communication, drawing 17 companies and about 23 representatives from AI, biotech and cloud. A founder whose company listed on the Taiwan Innovation Board on Sept 22 shared lessons, as TWSE works to build the board's listing pipeline.

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家族辦公室

Asian Private Banker2026-09-28

亞洲EAM轉型科技平台 搶攻B2B SaaS商機

亞洲外部資產管理機構（EAM）進入新一輪競爭，開始自建並對外輸出專屬科技平台，希望開拓B2B SaaS營收並擴大市占。顯示EAM正從單純投資顧問，轉型為兼營財富科技服務的業者，也將改變家族辦公室選擇服務商的方式。

Asia's EAMs turn into tech platforms, chasing B2B SaaS revenue

Asia's external asset managers (EAMs) are entering a new phase of competition, building proprietary tech platforms and offering them to others in a bid to earn B2B SaaS revenue and win market share — a shift from pure advisory toward wealth-tech services that could change how family offices pick providers.

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Asian Private Banker2026-09-29

渣打：公益是家族治理的「輔助輪」

渣打全球私人銀行亞洲慈善主管Scott Chang表示，結構化公益捐贈可作為家族治理與傳承規劃的「輔助輪」，讓家族先透過公益對齊價值，再處理財富移轉；他主張慈善不應被當成金融商品銷售。

StanChart: philanthropy is 'training wheels' for family governance

Scott Chang, Asia philanthropy head at Standard Chartered Global Private Bank, says structured giving acts as 'training wheels' for family governance and succession, helping families align before discussing wealth transfer, and argues philanthropy should not be sold as a product.

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Worth2026-09-29

家族辦公室資產規模已超越全球創投業

單一家族辦公室管理資產約5.5兆美元（花旗估計5.9至6.9兆），超越創投業的1至1.5兆美元；家族辦公室數量自2020年增逾75%至10,700家以上，七成從事直接投資，正與私募股權、創投爭搶案源。

學習單字
  • deal flow案源；投資機會的持續來源與數量
  • co-investment共同投資；與基金或主導方一起直接投資個別案件
  • wealth transfer財富移轉；資產由上一代傳給下一代或公益

Family offices now outsize the global VC industry

Single-family offices oversee about $5.5 trillion (Citi Wealth puts it at $5.9-6.9 trillion), above the $1-1.5 trillion venture industry. Their number has grown over 75% since 2020 to more than 10,700, and 70% make direct investments, competing with PE and VC for deals.

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工商時報2026-09-29

信託公會推傳承信託 安養信託規模逾2,075億元

信託公會9月24日辦傳承信託說明會，兆豐銀、國泰世華分享實務。截至2026年6月，安養信託受益人逾22.7萬人、受託金額逾新台幣2,075億元；台灣2025年底已進入超高齡社會，股權傳承信託需求升溫。

Taiwan Trust Association pushes succession trusts as elderly-care trusts top NT$207.5bn

Taiwan's Trust Association held a succession-trust briefing on Sept 24 with Mega Bank and Cathay United Bank. As of June 2026, elderly-care trusts had over 227,000 beneficiaries and more than NT$207.5 billion entrusted; with Taiwan super-aged since end-2025, equity succession trusts are drawing demand.

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Billionaires.Africa2026-09-30

出售事業獲291億美元 Kirsh家族擴建紐約家辦

富豪Natie Kirsh家族同意以291億美元（含債務）將Jetro Restaurant Depot售予Sysco，對價含216億美元現金及9,150萬股Sysco股票；家族正擴建紐約家辦，招募投資長與投資委員會成員。

學習單字
  • single-family office單一家族辦公室；只服務單一家族的投資與事務管理公司
  • investment committee投資委員會；審議並核准投資決策的內部機制
  • including debt含債務；交易價值計入承接的負債（企業價值口徑）

After $29.1bn sale, Kirsh family builds out New York family office

After agreeing to sell Jetro Restaurant Depot to Sysco for $29.1 billion including debt ($21.6 billion cash plus 91.5 million Sysco shares), 94-year-old billionaire Natie Kirsh's family is expanding its New York office, recruiting a CIO, investment committee members and heads of public and private investments.

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Briefs Finance2026-10-01

家辦9月出手變少但押注大輪次

Fintrx提供CNBC的數據顯示，家辦9月直接投資42筆，少於8月的52筆，但集中押注大輪次：Hillspire參與Mistral約34億美元D輪，地熱新創Mazama完成1.35億美元B輪，反映家辦偏好少而大的投資。

學習單字
  • direct company investments直接投資：不透過基金，直接入股企業
  • personal investment arm個人投資機構；富豪用來進行私人投資的專屬公司
  • oversized rounds超大型募資輪：金額遠高於同階段一般水準的融資

Family offices made fewer bets in September but backed big rounds

Family offices logged 42 direct company investments in September, down from 52 in August, per Fintrx data shared with CNBC, but backed large rounds: Hillspire joined Mistral's roughly $3.4 billion Series D, Duquesne backed Fab2 and Precision Neuroscience, and Mazama Energy raised a $135 million Series B.

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WealthBriefingAsia2026-10-01

巴克萊私銀：72%富裕投資人已布局私募市場

巴克萊私人銀行調查逾600位英、歐、亞、中東及非洲富裕投資人，72%已投資私募市場（2025年為50%），60%計畫加碼，但平均配置由30%降至27%；41%希望縮短鎖定期，基礎建設配置升至27%。

學習單字
  • lock-up periods鎖定期；投資後不得贖回或出售的期間
  • fee structures費用結構；管理費、績效費等收費安排
  • portfolio construction投資組合建構；決定各資產配置比例的過程

Barclays Private Bank: 72% of wealthy investors now in private markets

A Barclays Private Bank survey of 600-plus wealthy investors in the UK, Europe, Asia, the Middle East and Africa found 72% now invest in private markets (50% in 2025) and 60% plan to add more, though average allocations slipped from 30% to 27%; 41% want shorter lock-ups.

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經濟日報2026-10-04

連續受益人信託獲政院共識 富過三代露曙光

信託公會秘書長林志吉撰文指出，行政院跨部會協商已就「連續受益人信託」存續期間與課稅原則達成共識，家族可結合有價證券信託兼顧股權控管與傳承；文中並提及未來20至30年全球將有83兆美元財富跨代移轉。

Taiwan Cabinet reaches consensus on successive-beneficiary trusts

Trust Association secretary-general Lin Chih-chi writes that a Cabinet inter-ministry review has reached consensus on the duration and tax principles of 'successive-beneficiary trusts', letting families pair securities trusts with control and succession; he notes $83 trillion will change generations globally within 20-30 years.

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