Afore Capital: The Pre-Seed Fund Backing Founders Before Anyone Else Writes a Check
Afore Capital: The Pre-Seed Fund Backing Founders Before Anyone Else Writes a Check TL;DR: Afore Capital closed its fourth fund at $185M in February 2025, pushing total AUM to $500M. Every dollar…
May 31, 2026
Advisory Shares: What Startups Pay Advisors Instead of Cash — and What to Watch For
Advisory Shares: What Startups Pay Advisors Instead of Cash — and What to Watch For TL;DR: Carta's H1 2024 benchmarking data shows the median advisory equity grant at pre-seed is 0.21% of fully…
May 31, 2026
The SEC Just Proposed Cutting Private Fund Reporting — Here's the Part They're Not Highlighting
The SEC Just Proposed Cutting Private Fund Reporting — Here's the Part They're Not Highlighting TL;DR: On April 20, 2026, the SEC and CFTC jointly proposed rolling back Form PF — the main private…
May 31, 2026
L Catterton: Inside the $37 Billion Firm That Bets Big on Luxury Consumers — and Sometimes Loses
L Catterton: Inside the $37 Billion Firm That Bets Big on Luxury Consumers — and Sometimes Loses TL;DR: L Catterton closed an $11 billion fundraising cycle in May 2025 — its largest ever. The…
May 31, 2026
TVPI Explained: What Total Value to Paid-In Capital Tells You About a Private Fund
TVPI Explained: What Total Value to Paid-In Capital Tells You About a Private Fund TLDR: CalPERS's disclosed fund data shows private equity TVPI ranging from 0.3x (near-total loss) to 4.2x within the…
May 31, 2026
Yieldstreet Is Now Willow Wealth — and the $208 Million in Investor Losses Explain the Name Change
Yieldstreet Is Now Willow Wealth — and the $208 Million in Investor Losses Explain the Name Change TL;DR: In October/November 2025, Yieldstreet quietly rebranded to Willow Wealth and scrubbed its…
May 31, 2026
What Is a Capital Call in Private Equity? A Plain-English Guide for LP Investors
What Is a Capital Call in Private Equity? A Plain-English Guide for LP Investors TL;DR: According to Preqin's 2025 Global Private Equity Report , global private capital dry powder reached $3.7…
May 31, 2026
Where $2 Trillion Is Flowing: The Private Credit Market in 2025 and What It Means for Your Portfolio
Where $2 Trillion Is Flowing: The Private Credit Market in 2025 and What It Means for Your Portfolio TL;DR: Private credit crossed $2.1 trillion in AUM for the first time in 2024, and the Cliffwater…
May 31, 2026
Regulation Crowdfunding in 2026: What the $5M Cap Really Means for Retail Investors
TL;DR 60% of all attempted Reg CF offerings raised zero dollars in proceeds. Total confirmed proceeds from 2016–2024: ~$1.3 billion across 8,492 offerings. The $5M annual cap is binding for almost...
May 30, 2026
Delaware C Corporation: Why Startups Choose It and What Angel Investors Require
TL;DR 66.7% of Fortune 500 companies are Delaware C-Corps. 81.4% of U.S.-based IPOs in 2024 chose Delaware. VCs cannot invest in LLCs for three hard structural reasons: UBTI rules, K-1 multi-state...
May 30, 2026
Private Credit in 2026: $1.5 Trillion Market, FSB Systemic Risk Warning, and What Retail Investors Miss
TL;DR Private credit now sits at $1.5–$2 trillion in global AUM. Preqin projects $4.5 trillion by 2030. Senior secured direct lending yields 9–11% all-in today (SOFR ~3.7% plus 550–650 bps...
May 30, 2026
TVPI Explained: What Every LP Needs to Know About This Fund Performance Metric
TL;DR: Cambridge Associates data shows 2018-vintage PE buyout median TVPI sits at 1.72x as of Q4 2024, while top-quartile funds for the same vintage reach 2.35x. TVPI is the fastest read on...
May 30, 2026