Topic dossier
Essays, research notes, and operating frameworks filed under Venture Capital.
PitchBook's Q2 2026 Global VC First Look shows a market splitting in two: record capital deployed and record exit value at the top, and fundraising at a decade low underneath, all while early-stage investing is growing.
Follow the money to find out who will hold venture capital's empty bucket.
Wasserman's Data Has Not Improved Visual companion — John Cowan, Next Wave Partners Founder Dilution Trajectory Exit Waterfall Comparison The Structural Trajectory of Founder Ownership
Dan Gray diagnosed the disease. Here's why the cure requires new financial architecture, not just new companies.
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.
Everything you need to know about the VC industry for 2026
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.
There is blood on the streets, and Goldman just bought the mop company. Its deal to acquire Industry Ventures is an acknowledgment that the crisis is
Research Dossier for Emerging Managers and Venture Studio Operators
President Trump is preparing to sign an executive order that would open $12.5 trillion in American 401(k) retirement savings to Silicon Valley venture capitalists—
