As family offices continue to deal with the collapse of the tech-focused Silicon Valley Bank (SVB), Bloomberg TV’s Ed Ludlow and Caroline Hyde recently turned to WE Family Offices CEO and Managing Partner Mel Lagomasino for her outlook for investing in tech stocks, what kinds of opportunities she sees in the public and private spaces, and the lessons we can learn from the SVB crisis.
Following the latest banking crisis, Lagomasino believes that the tech sector, specifically within the venture space, provides opportunities for investors as businesses continue to seek the improved productivity that technology affords. “I continue to be a tech bull, but I am a tech bull over time,” Lagomasino explains. “I think over the next 3 to 5 years, we will be having higher valuations for these companies.”
The SVB crisis also highlights the importance of board oversight, especially as other companies around the globe experience duress under rising interest rates. “I think board oversight has never been more important. Especially with issues like cybersecurity,” says Lagomasino, who has a unique perspective on the topic as a board member of The Walt Disney Company and The Coca-Cola Company. “I think that the kind of credentials that you need to be able to have and the kind of work that you need to be able to serve on these boards has increased dramatically.”
