Research
Coalition Investing and the Case for Venture Capital Without a Fund Manager
Your Most Valuable Asset Is Being Walled Off by the Fund You Invested In
Building, Funding, and Scaling Startups in the Post-Power Law Era
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Latest Research
Venture Capital
Carta's Latest Founder Data Says What Carta Can't
Wasserman's Data Has Not Improved
Visual companion — John Cowan, Next Wave Partners
Founder Dilution Trajectory
Exit Waterfall Comparison
Venture Capital
You Can't Reindustrialise with Casino Money
Dan Gray diagnosed the disease. Here's why the cure requires new financial architecture, not just new companies.
Macro Trends
Nineteen Cents on the Dollar: Breaking Down AngelList's Venture Fund Report
AngelList just published the most comprehensive fund performance data available for emerging managers. The numbers confirm what many of us have been talking about for years, and they point toward something better.
Research
2026 Venture Capital Industry Forecast
Everything you need to know about the VC industry for 2026
Macro Trends
Exclusive Report: Family Office and Fund of Funds Market
The venture capital industry has built an extraordinarily sophisticated machine for deploying capital into private markets. It has built almost nothing to get that capital back out.
Macro Trends