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.
Venture Studio
Introducing The Portfolio Allocation Matrix - A Risk Modeling Framework for Venture Studios
From Deal Structure to Portfolio Strategy
Most venture studios fail because they try to develop the wrong companies at the
Macro Trends
Capturing Dislocation Alpha: The Venture Studio Hedge Against the AI Bubble
The Contrarian Investment Thesis
The AI venture capital bubble will inevitably unwind over the next several years, creating an unprecedented
Research
2025 Venture Capital Industry Forecast
In 2024, capital concentration among dominant VC firms reached unprecedented levels. As inefficiencies widen, 2025 will mark a recalibration of early-stage investing, with venture studios emerging as a sustainable model to fill funding gaps and challenge the Power Law Cartel.
