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In September 2026, family offices participated in two very different technology bets: a reported $135 million geothermal-energy round for Mazama Energy and a $250 million clinical brain-computer-interface round for Precision Neuroscience. Fintrx data reported by CNBC counted 42 direct family-office investments that month, down from 52 in August—but that is a deal count, not a measure of dollars invested or a complete market index.
What family offices backed in September 2026
The two rounds differ in both technology and maturity. Mazama Energy is pursuing a geothermal drilling demonstration; Precision Neuroscience is developing a cortical interface for clinical use and says its device has received FDA clearance while further review remains ahead. Neither a financing announcement nor a company-reported milestone proves commercial success.
| Company | Round and date | Family-office connection | What the funding is meant to advance |
|---|---|---|---|
| Mazama Energy | Reported $135 million Series B, announced September 17, 2026; reported by The Family Office Almanac | Centaurus Capital and Doerr Capital were named as leads; Gates Frontier was among participants, according to The Family Office Almanac | Project Ceres, which the Almanac says aims to demonstrate 15 megawatts of capacity from a single well |
| Precision Neuroscience | $250 million Series D, announced September 24, 2026; company announcement | Duquesne Family Office participated; the round was co-led by Pershing Square, the Ackman Oxman Institute, and an unnamed life-sciences investment fund | More clinical work, further FDA review of Layer 7, and commercialization infrastructure, according to the company |
The companies’ fundraising figures are not directly comparable measures of progress: they describe round sizes, while the underlying projects face different technical, regulatory, and deployment challenges.
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The Family Office Almanac reported that Centaurus Capital and Doerr Capital led Mazama Energy’s $135 million Series B. It named ConocoPhillips, Shell Ventures, Khosla Ventures, and Gates Frontier among the other participants. The report says the financing will support Project Ceres, an effort to demonstrate 15 megawatts of capacity from one well.
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The same report cites a 331°C temperature from an Oregon pilot near Newberry Volcano. Treat both that measurement and the proposed single-well capacity as reported project claims: the available account does not independently validate them against a primary company or government technical source. A planned capacity demonstration is not the same as a well already producing that amount of electricity.
CNBC’s reproduced report quotes Mazama CEO Sriram Vasantharajan describing the work as an engineering challenge rather than a scientific problem. That is the CEO’s characterization, not independent evidence that the project is technically or commercially feasible.
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Who invested in Precision Neuroscience, and what does its funding support?
Precision Neuroscience announced its $250 million Series D on September 24, 2026. The company said the round was co-led by Pershing Square, the Ackman Oxman Institute, and a life-sciences investment fund whose name it did not disclose; Duquesne Family Office was among the additional participants. Precision said the round brings its total capital raised since its 2021 founding to $430 million. Precision Neuroscience’s financing announcement describes the planned uses as expanding clinical work, advancing Layer 7 through further FDA review, and building commercialization infrastructure.
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Precision also reported more than 100 patient procedures across 18 medical institutions and said it had received FDA clearance for its Layer 7 Cortical Interface. The company’s announcement says the new financing will support the device through the next stages of FDA review. Clearance is a reported regulatory milestone; it should not be conflated with completion of the additional review the company says remains or with broad consumer availability. The reported procedure and institution counts are company figures, not an independent evaluation of safety or effectiveness.
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Precision co-founder and CEO Michael Mager said the company was building its clinical network, regulatory position, and manufacturing base, while placing safety and partnerships with neurosurgeons and academic medical centers at the center of its approach. Those statements express the company’s priorities; they do not establish a consumer-ready product or independent clinical conclusions.
Did family-office investment activity slow in September?
CNBC’s October 1, 2026 Inside Wealth report said Fintrx data showed 42 direct investments in companies by family offices in September, compared with 52 in August. The report also said clean-energy companies accounted for five September transactions. These figures describe transaction counts, not invested capital, and the report does not explain the dataset’s definitions, methodology, or coverage. They therefore indicate a decline in the count captured by that dataset, not a comprehensive measure of family-office activity or the total amount invested. Read the reproduced CNBC Inside Wealth report.
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How to read these two bets
- Different evidence stages: Mazama’s reported case centers on a geothermal pilot and a planned well-capacity demonstration. Precision cites patient procedures, a reported FDA clearance, and further review still to come.
- Different routes to deployment: Mazama must demonstrate project and well performance; Precision’s path includes clinical work, regulatory review, manufacturing, and commercialization.
- Financing is not validation: An investor syndicate and a large round show that capital was committed, not that either technology will work at scale, reach a market, or produce a successful investment.
The Mazama financing and project details above are attributed to The Family Office Almanac’s September 25 report. Precision’s round and company milestones come from its September 24 announcement, while the monthly transaction counts come from Fintrx data as reported by CNBC.
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