The $677 Billion Stash: How AI Deployment Is Masking a Non-AI Funding Drought
Global venture capital held approximately $677 billion in dry powder , committed but undeployed capital sitting inside VC funds, as of early 2025, according to PitchBook's 2024 Annual Global Private
How Much Should You Actually Allocate to Alternative Investments? A Framework by Net Worth and Liquidity Horizon
The standard advice to put "10-20% in alternatives" tells you almost nothing useful. The right number depends on how much of your net worth is genuinely illiquid-tolerant, your income needs over...
The Denominator Effect Is Real. But It’s Not Your Best Excuse.
The Denominator Effect Is Real. But It’s Not Your Best Excuse. If you're a GP trying to raise in this market, let's start with reality: LP allocation pressure is real. The denominator effect is real.
The Denominator Effect: Why Family Offices Are Quietly Cutting VC Allocations in 2026
TL;DR: The S&P 500 is up roughly 13-14% year to date in 2026. That normally means public portfolios are growing faster than private ones, which should make venture capital allocations look underweight