Investment consultancy Cambridge Associates has said it advocates venture capital allocations of up to 20 percent for wealthy families – saying the asset class helps to promote intergenerational succession and engagement.

In its new paper – Venture Capital positively disrupts intergenerational investing – Cambridge Associates makes the argument that VC provides a platform for families to share intergenerational viewpoints on topics such as entrepreneurship, tech advancements and social/environmental change.

“For many families, venture investing may provide a connection to the original roots of entrepren...