What Is an SPV? A Practical Guide to Special Purpose Vehicles for Angel Investors
An SPV is a Delaware LLC created for one deal only — to hold equity in a single startup. The pitch: clean deal access with expert due diligence. The catch: the median SPV returns exactly 1x after
June 3, 2026
Fund of Funds for Accredited Investors: What the Fee Math Really Says
According to Harris, Jenkinson, Kaplan and Stucke (2018) , A fund of funds (FoF) is a pooled investment vehicle that buys shares in other funds rather than individual companies. You pay two layers of
June 3, 2026
Tom Mueller and Impulse Space: Why a $4.26B Valuation Matters for Defense-Tech Investors
Impulse Space raised $500M at a $4.26B valuation on June 2, 2026 per Source . That's a 2.4x jump from the $1.8B implied Series C valuation in under 13 months. Tom Mueller (SpaceX's first employee,
June 3, 2026
SAFE vs. Convertible Note: The Investor's Playbook
Founders love SAFEs. You should think twice. Y Combinator's Simple Agreement for Future Equity dominates early-stage rounds because it's fast, cheap, and founder-friendly. But SAFEs strip away
June 3, 2026
Brighton Park Capital: The $4.5B Growth Equity Firm Reshaping Enterprise Software
Per SEC Form ADV (CRD 304261) , Brighton Park Capital manages $4.5B in regulatory assets under management. The Greenwich-based growth equity firm operates a concentrated strategy: two flagship funds
June 3, 2026
Common Stock vs. Preferred Stock: Why Liquidation Preference Is Your Only Real Protection
In 2005, Trados received a $60 million acquisition offer. Per Delaware Court of Chancery ruling In re Trados Inc. Shareholder Litigation , preferred stockholders received $52.2 million. Common
June 3, 2026
Q1 2026 Venture Funding Broke Records. Here's What Accredited Investors Should Do With That Data.
Per Crunchbase's Q1 2026 global funding report , venture capital hit $300 billion in a single quarter, shattering every historical record. Four AI companies absorbed $188 billion of that, or 65 cents
June 3, 2026
The 1031 Exchange: How to Defer Taxes Legally on Real Estate Sales (and the Rules That Can Blow It Up)
TL;DR: Real estate investors deferred $13.2 billion in capital gains taxes last year using IRC Section 1031 . Total annual transaction volume supported by the provision runs $100 billion, per the
June 2, 2026
DPI: The Only Private Equity Metric That Shows You Real Cash
Quick take: Private equity distributions as a share of NAV collapsed from 29% in 2021 to just 9% in the first half of 2024 -- the lowest level in over a decade, according to Goldman Sachs Asset
June 2, 2026
Shield AI Raises $1.5 Billion at a $12.7 Billion Valuation: What Defense Tech's Biggest Round Tells You
TL;DR: On March 26, 2026, Shield AI announced a $1.5 billion Series G at a $12.7 billion post-money valuation , up 140% from $5.3 billion just twelve months before. That equity round is only part of
June 2, 2026
The INVEST Act: What the House-Passed Capital Formation Bill Could Change for Private Investors
TL;DR: The Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025 (H.R. 3383) , known as the INVEST Act, passed the House 302-123 on December 11, 2025. Eighty-seven
June 2, 2026
Blue Sky Laws: The State Securities Rules Every Private Investor Needs to Know
Blue sky laws still govern every private placement in America. The 54 state and territorial securities regimes cannot block a Rule 506 offering, but they can void one. State regulators ran 1,186
June 2, 2026