The IPO window is open for proof, not promise
IPO postponements are rising even after a strong year for proceeds. What the narrow window means for hard-tech founders and investors planning exits and liquidity.
Fluxa First Venture Studio
VC & startup finance
VC & startup finance from Fluxa First: 4 articles for founders and investors building hard tech.
Hard-tech rounds now come with orders, strategics and debt
Two hard-tech rounds this week show how the capital stack is changing. Customer orders, strategic leads and debt now sit beside venture equity.
Why LPs keep re-upping with incumbents, and what new managers can do
Thin LP distributions in 2026 are pushing commitments toward established VC firms. Why it happens, what it means for emerging managers and for founders.
Q3 2026 venture market: record dollars, thin distributions
US venture hit a record $515.8B through Q3 2026, but AI took 82.7% and exits stayed thin. What that split means for hard-tech founders and investors.