A clutch of next-generation leaders are helping chart the future of some of Asia's wealthiest families and disproving the notion of millennials as the entitled generation.
CNBC spoke to four such millennials as part of a panel discussion and found that while some are focused on sparking innovation in their legacy businesses, others weren't averse to developing their own ventures.
Nararya Ciputra Sastrawinata is the grandson of Indonesian property tycoon Ciputra and as a director of the Ciputra Group, he oversees real estate projects in Jakarta for the family business.
Drawing from his grandfather's entrepreneurial spirit, he's also branched out and started a venture capital fund –Indogen Capital– with his friends, having spent eight years in the family business.
He said: "I think I'm a bit more settled in, I thought it's time to be more entrepreneurial, be innovative… I think if you see properties more traditional in the sense, more brick and mortar. I think you need to do more product developments and more business processes that you can improve."
"That's how I decided to start with a group of friends outside the family business, start a VC fund. I think that's my method of getting into the conversation at least."
Lionel Leong shares a similar path. His father, Leong Hoy Kum, is a big player in the Malaysian property scene and as a second generation business owner, he runs operations for Mah Sing Group.
Leong co-founded RHL Ventures with Rachel Lau and Raja Hamzah Abidin, whose families also own prominent Malaysian companies. Their plan is to attract outside capital and build the firm into Southeast Asia's leading independent investment group.