The Unregistered Finder Problem: What Every Angel Network Must Know in 2026
The legal risk around unregistered finders in private placements is not theoretical. The SEC and FINRA actively investigate and pursue enforcement actions against individuals who receive transactio...
June 22, 2026
Brian Armstrong Wants a Literacy Test, Not a Wealth Test. The SEC Might Agree.
In June 2026, Coinbase CEO Brian Armstrong appeared on Yahoo Finance's Power Players podcast and called for eliminating the US accredited investor wealth thresholds, replacing them with a financial...
June 22, 2026
How PE Firms Value Your Portfolio: The Mark-to-Model Problem Every LP Must Understand
According to the IPEV Valuation Guidelines (updated 2025), private equity and venture capital fund managers are required to estimate fair value for portfolio holdings at every NAV reporting date. T...
June 22, 2026
How Family Offices Invest in Alternatives: The Allocation Blueprint for Accredited Investors
The UBS Global Family Office Report 2025 surveyed family offices managing an average of $1.6 billion in assets and found that private equity represents 21% of average global family office portfolio...
June 22, 2026
Prosper AI Raises $30M From a16z: Why Healthcare Admin AI Is the Boring Bet That Wins
Prosper AI announced a $30 million Series A in June 2026, led by Andreessen Horowitz with participation from Base10, Emergence Capital, Y Combinator, and Company Ventures. The company automates the...
June 22, 2026
QSBS Section 1202: The $15 Million Tax-Free Benefit Angel Investors Keep Ignoring
Internal Revenue Code Section 1202 is the most underused tax benefit in angel investing. It allows you to exclude up to $15 million in capital gains from federal income tax when you sell qualifying...
June 22, 2026
SEC Proposes Killing the Baby Shelf Rule: What It Means for Private Market Investors
The Securities and Exchange Commission proposed eliminating the "baby shelf" limitations for smaller public companies in May 2026, as part of a broader three-part capital formation package under Ch...
June 22, 2026
Dream Raises $260M at $3B for Sovereign AI: What Bain Capital Sees in the Government AI Race
On June 18, 2026, Dream announced a $260 million funding round at a $3 billion post-money valuation , led by Bicycle Capital and Group 11, with Bain Capital Ventures participating alongside Antler,
June 21, 2026
SEC Raises Qualified Client Thresholds June 29: Who Gets Locked Out of Performance-Fee Funds
On June 29, 2026, the SEC's inflation-adjusted thresholds for "Qualified Client" status take effect under SEC Release IA-6961 , issued April 28, 2026. The new numbers are concrete: the
June 21, 2026
Distressed Debt Investing: What Happens When You Buy Bonds at 40 Cents
TL;DR Distressed debt means buying bonds or loans trading below 80 cents on the dollar (or yielding 1,000+ basis points over Treasuries) from forced sellers who need cash more than they need price.
June 21, 2026
CLO Investing for Accredited Investors: What the Senior Tranche Actually Pays
TL;DR The US CLO market hit $135 billion in new issuance in 2025 , up 18% year-over-year. Institutional capital is voting with real dollars. AAA CLO tranches now price at SOFR+120 , delivering
June 21, 2026
Infrastructure Investing for Accredited Investors: CPI-Linked Returns and 20-Year Lock-Ups
TL;DR Private infrastructure targets 8.3%–11.0% net IRR over 2025–2034, outpacing projected U.S. equity returns of 4.8%–7.8% over the same period (Macquarie Asset Management, 2025). Accredited
June 21, 2026