7 reports · newest first
Capital Markets
A single quarter eclipses entire past years as foundation-model rounds north of $100B redraw the map of private capital.
Capital Markets
Capital deployment turns sharply concentrated as foundation-model mega-rounds dominate the year, marking a decisive break from the venture winter.
Capital Markets
Two more lenders collapse within weeks, with First Republic becoming the second-largest bank failure in U.S. history before JPMorgan absorbs it.
Capital Markets
A $1.8B bond loss, a social-media bank run, and $42B in attempted withdrawals in a single day end the venture ecosystem's central financial institution.
Capital Markets
A liquidity crisis triggered by a leaked balance sheet and a rival's public sell-off ends with the exchange insolvent and its founder facing fraud charges.
Europe's buy-now-pay-later giant raises fresh capital at a fraction of its peak — a brutal public marker for the entire late-stage market.
Capital Markets
A year of frictionless capital minted 586 new unicorns and pushed the private board past $3.8 trillion — the top of the cycle, in hindsight.