VC Liquidity Crisis and Bifurcation

The Techno Capitalist

Retail VC fund premiums collapsing post-SpaceX IPO, DPI 0.08x for 2021 cohort, secondary market larger than IPOs, $4.3T NAV overhang. Bifurcation intensifies between top-tier and struggling funds.

Sources (2)

Updated Aug 10, 2026

The Techno Capitalist

Banks: The Overlooked Beneficiary Of The AI Capital Cycle

After the liquidation crisis, Silicon Valley capital is instead flocking to ...