Venture Capital
Kalshi's SEC Form D Reveals $1.12 Billion Raised, 71 Investors, and Why You Probably Can't Get In at the Primary Level
On August 25, 2026, Kalshi Inc. filed a Form D with the SEC revealing it has sold $1,120,010,122 of a $1,499,997,894 private offering, with 71 investors in and roughly $380 million still...
Jeff Barnes, MBA··12 min read
Regulatory & Compliance
How to Read a PPM's Risk Factors Section: A Step-by-Step Checklist Before You Wire Capital
TL;DR: A Private Placement Memorandum's Risk Factors section is the sponsor's primary legal defense if the deal fails, and most investors skim it in under three minutes. Read it like an underwriter in
Jeff Barnes, MBA··11 min read
Regulatory & Compliance
The Regulation D Offering: A Practical Guide for Founders and Fund Managers
A $3 million seed round closed last quarter by a San Francisco B2B SaaS company. No investment bank. No registered public offering. No SEC registration statement filed months in advance. Just a well-structured...
Jeff Barnes, MBA··10 min read