SPVs Explained: The Single-Deal Vehicle That's Either Your Best Bet or a $250K Lottery Ticket
SPVs Explained: The Single-Deal Vehicle That's Either Your Best Bet or a $250K Lottery Ticket An SPV costs $8,000 to set up on AngelList and lets you concentrate your entire allocation into one company. That's either...
May 27, 2026
Seed Funding in 2026: How Much to Raise, What to Give Up, and Who Actually Writes the Check
Seed Funding in 2026: How Much to Raise, What to Give Up, and Who Actually Writes the Check Median seed round in 2026: $3–5M at $10–15M pre-money. That sounds like a healthy market until you look at what happens next....
May 27, 2026
Advisory Shares: Why 90% of Them Are Worth Nothing (And When to Take the Deal)
Advisory Shares: Why 90% of Them Are Worth Nothing (And When to Take the Deal) Run the math. A pre-seed advisory grant of 0.225% equity, at a startup with a 15% chance of surviving, sold at a 6x exit multiple on a $1M...
May 27, 2026
Capital Calls: What Happens When Your Fund Manager Wants More Money (And You Don't Have It)
Capital Calls: What Happens When Your Fund Manager Wants More Money (And You Don't Have It) In 2022, 67% of large LPs cut new private equity commitments because they couldn't meet existing capital calls. Pension funds —...
May 27, 2026
A PE Firm Just Bought Velcro. Yes, That Velcro. Here's What Middle-Market PE Sees in Iconic Consumer Brands That Growth Investors Miss.
Last week, while you were arguing on LinkedIn about which AI model will replace software engineers, a New York PE firm did something far more interesting. Arsenal Capital Partners agreed to acquire a majority stake in...
May 27, 2026
A Manufacturing Company That Hires From Dollar Tree Just Hit $1B. Why Sequoia and the Stripe Cofounders Backed a Factory Over Another SaaS Startup.
SendCutSend raised $110 million from Sequoia, Paradigm, and Stripe co-founders Patrick and John Collison , hitting a $1.01 billion post-money valuation on May 19, 2026. Let that sentence sit for a second. Not another AI...
May 27, 2026
Boston Scientific Paid $1.5B for 34% of MiRus — With a $3B Acquisition Option Attached. This Is How Corporate Venture Actually Works.
Most corporate venture capital is theater. A $5 million check, a logo on a cap table, a press release about "strategic alignment." Nobody gets acquired. Nobody wins. The real players don't play it that way — and last...
May 27, 2026
Form ADV: The Free Document That Exposes Everything Your Financial Advisor Hides
Form ADV: The Free Document That Exposes Everything Your Financial Advisor Hides 95% of investors have never read their advisor's Form ADV. It's free, it's public, and it reveals every fee, conflict, and disciplinary...
May 27, 2026
TVPI: The PE Metric That Flatters Every Fund Manager (And How to See Through It)
TVPI: The PE Metric That Flatters Every Fund Manager (And How to See Through It) Vista Equity Partners Fund VII is sitting at an estimated 1.3x–1.7x TVPI as of 2024. Sounds like progress. But the fund's DPI — the cash...
May 27, 2026
Thrive Capital: Josh Kushner's $50B Bet on Conviction Over Diversification
Thrive Capital: Josh Kushner's $50B Bet on Conviction Over Diversification Fund VIII posted 126% IRR. That's not a typo. The OpenAI bet alone — $1.3 billion into a $157 billion round with exclusive follow-on rights —...
May 27, 2026
The Delaware C-Corp Myth: Why 95% of Founders Don't Need One (And the 5% Who Absolutely Do)
The Delaware C-Corp Myth: Why 95% of Founders Don't Need One (And the 5% Who Absolutely Do) I've watched founders spend $3,000–$5,000 per year maintaining a Delaware C-Corp they didn't need — because a Y Combinator blog...
May 27, 2026
Right of First Refusal: The Clause That Can Lock You In or Kill Your Deal
Right of First Refusal: The Clause That Can Lock You In or Kill Your Deal A $250M acquisition died because a seed-stage investor exercised their ROFR. The buyer walked. The seller waited 30 days for a match that was...
May 27, 2026