Invisible Capital

“A guidebook that should be intrinsic to any family business and those contemplating intergenerational business pursuits.” -Midwest Book Review

“An expert framework for revitalizing family businesses and ensuring their longevity.” -Kirkus Reviews

“René Sonneveld’s latest book, Invisible Capital, reflects his decades of work with family businesses around the world. Insightful, sensitive, and practical, René’s work is a gift to families seeking to ensure that their family and their family business interests can be multigenerational forces for good-for the family and for all stakeholders. I will be sharing Invisible Capital both with colleagues in the advisory world and business families I work with, and I am positive all will find the book an inspiration.” -Philip Marcovici, author of The Destructive Power of Family Wealth and The Transformative Power of Family Wealth, founding advisor to the Cambridge Institute for Sustainability Leadership

“Few books have felt this personal to me. After my grandfather-the founder of our family business-died, I watched our family discover how much of the business’s governance, memory, relationships, and shared purpose had lived in him. When the business was later sold, that loss became even clearer. René Sonneveld gives language to what I wish we had understood then: The true wealth that determines whether a family business endures is often invisible. That insight now shapes my own work preserving institutional knowledge across generations. Invisible Capital is an important guide to stewardship, continuity, and what families must deliberately carry forward.” -Nicholas Cafritz, founder and CEO of Dynasty

“René Sonneveld has sat at enough kitchen tables and boardroom tables to know how rarely the two are as separate as they may appear. What he calls ‘invisible capital’ is older and more demanding than anything today’s public-company frameworks were built to measure. In this book, René Sonneveld offers the reader the patience to stay in a conversation when the ledger has nothing left to say.” -Anna A. Tavis, PhD, chair, Human Capital Management, New York University

“How to move a family enterprise successfully beyond the third or fourth generation has long been an elusive challenge. The subject has been addressed repeatedly through structures, schemes, protocols, and other mechanisms. Sonneveld reminds us that it is much broader and requires a careful humanistic approach: one that actively engages with human emotions. Sonneveld provides an excellent and detailed road map, enriched by numerous examples and invaluable tools, to help families approach the challenge with a long-term perspective. A must-read for family enterprises of any size.” -Carlos Andrés Mattsson, chairman, CAMCO

“As a third-generation member of my family business, I have lived firsthand the reality that our long-term success is anchored in far more than just financial assets. René Sonneveld masterfully articulates what many of us in multigenerational families intuitively understand but struggle to define: the invisible capital that truly determines whether a legacy thrives or fades. This book is a rare find; it blends deep, hard-won wisdom with actionable, human-centered guidance. It is an essential read for any family looking to navigate the complexities of succession and change while staying united by a common mission.” -Isabelle Chaquiriand, dean, Faculty of Business Sciences, Universidad Católica del Uruguay; director of BTG Pactual Uruguay

René Sonneveld is a former international executive, family governance specialist, and ICF Master Certified Coach. He advises and coaches enterprise families on legacy, succession, governance, and continuity. He is the author of the Amazon bestselling and award-winning The Elephant in the Family Room, and Vice Chairman of the International Coaching Federation’s Global Board of Coaching Education. He teaches at American University, NC State, and Rutgers.

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