The family office concept was prevalent in ancient India in the form of ‘Nagar Seth’ or ‘Munimji’ – the traditional caretaker of finances. The modern form of Indian family office emerged only during the early 2000s. The economic growth and increase in the ultra-rich class have led to the proliferation of family offices in India during the last 15 years. Many Indian family offices are being managed by globally experienced and educated next-generation family leaders. However, there is an inadequate understanding of how and on what dimensions the next-generation leaders shape the strategic management and operations of their family offices. Inductively analysing 6 cases of single-family offices this study identifies three dimensions next-gen distinctly shapes that form the basis of a family office heterogeneity. Based on variations observed in: investment portfolios, asset classes, and degree of professionalization and governance, the study presents a typology of family offices in the emerging market context.