VC Funding Q1 2026: Record $330.9B, 80% AI, and What the Numbers Don't Show
TL;DR: Global VC hit a record $330.9B in Q1 2026, per KPMG's Venture Pulse report . AI absorbed 80% of that capital. The headline is real. But the story underneath it is not what most founders and ...
June 1, 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
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
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
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
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
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
MOIC Explained: Multiple on Invested Capital and Why the Number You See Is Probably Inflated
MOIC Explained: Multiple on Invested Capital and Why the Number You See Is Probably Inflated TL;DR: The gross MOIC a GP quotes in a pitch deck is not the net MOIC you receive as an LP. Standard…
May 31, 2026
Cognition AI Raises $1 Billion at $26 Billion: What the Valuation Math Actually Tells You
Cognition AI Raises $1 Billion at $26 Billion: What the Valuation Math Actually Tells You TL;DR: Cognition AI just closed a $1 billion Series D at a $26 billion post-money valuation. That is 53 times…
May 31, 2026
ROFR in Venture Capital: How Right of First Refusal Actually Works in Deals
TL;DR: In December 2021, SpaceX exercised its contractual Right of First Refusal on 81% of a fund stake, with Elon Musk personally acquiring those shares to block a Chinese investor from the cap...
May 30, 2026