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Insights

Deal theses, market views, and private markets research published by our investment team. We write what we believe — including why we passed on deals the market was excited about.

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Newsletter

Private Markets Update & Deal Flow

Kalshi pulls out of India just as nine European gambling regulators announce coordinated action against prediction markets, while Donald Trump Jr.’s free USD 300k stake in the same company quietly approaches the value of a small fortune. Anthropic goes hunting for compute in Australia and Japan as demand outruns its infrastructure. OpenAI makes its Cannes Lions debut and tells advertisers it wants their money. Morgan Stanley doubles its China humanoid robot forecast for the second time this year. SpaceX sheds USD 600B in three days, then reminds everyone that the real supply shock is still ahead on the lock-up calendar. An obscure Israeli chip startup becomes the most interesting M&A target in tech by quietly powering Starlink. And Peter Thiel’s early bet on a Berlin drone maker looks better every week Europe spends rearming.

June 2026

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