The private markets tape this week continued to tell the same story we’ve been watching all year: AI is swallowing venture dollars, mega-managers are consolidating LP attention, and institutional capital is increasingly flowing toward firms with brand gravity and distribution advantages.
Fundraising activity accelerated across both startups and venture funds, with infrastructure AI, fintech, and applied enterprise software leading the cycle. Meanwhile, LPs continue to prioritize established GPs over emerging managers a trend becoming impossible to ignore.
