Trump paves way for $14B TikTok deal that puts US investors in the driver's seat

President Donald Trump has finally cleared the way for a tentative deal that would keep video-sharing app TikTok operating in the US through the creation of a new, separate American-run entity.

After months of delays, the order gives some shape to the deal and confirms that under the new framework, the US-based arm of TikTok will be controlled by large American investors, who will own 80% of the entity, with ByteDance retaining 20%.

The president said that Oracle, Michael Dell and Rupert Murdoch will be involved. READ MORE

SEC Working with DOL to Develop ‘Guardrails’ for Private Equity in 401(k)s

The Securities and Exchange Commission (SEC) will work with the Department of Labor (DOL) to develop protections for workplace retirement plan participants interested in private market investments, SEC Chairman Paul Atkins told Fox Business in a live interview on Tuesday.

The Trump administration’s plan to open 401(k) retirement accounts to private market investments—as per his Aug. 7 executive order—seeks to open up far greater access to opportunities that have traditionally been restricted and available only to high net worth investors and pension funds. READ MORE

The Convergence of Insurance, Private Capital and Asset Management Is Likely To Continue

Although the capitalization and prudential regulation of insurers is complex, the economic essence of an insurance company is simple.

A company is established with capital and regulatory licenses. It agrees to make future benefit payments and/or cover the economic cost of certain risks in return for receiving premiums. Because of the time lag between the receipt of premiums and ultimately having to pay out — which can be decades — if the company is well run, it will enjoy an ever-increasing “float” of money. READ MORE

Employers ready for private market investments in DC plans

A new survey from Empower shows that a growing number of employers are preparing to offer private market investments – such as private equity, private credit, and private real estate – within defined contribution retirement plans.

The findings reflect a broader shift in the retirement landscape, with plan sponsors, advisors, and participants expressing increased interest in expanding access to these asset classes. READ MORE

Why VCs Are Funding Founder Resilience And Personal Development

For decades, venture capital has been synonymous with chasing unicorns—those rare startups valued at a billion dollars or more. But a new generation of investors is rewriting the script, prioritizing sustainable growth and healthier founders over high-stakes bets. At Chicago-based 11 Tribes Ventures, General Partner Kristina Chapple and Founder Mark Phillips are betting that a thriving founder creates a flourishing company. They are literally putting money behind that belief by dedicating 2% of every investment as non-dilutive capital for coaching, therapy, and personal development.

This founder-first approach is not only unusual in venture capital but also reflects a broader shift among emerging managers who emphasize founder support, resilience, and mental health. Instead of holding out for one or two unicorns, they aim to nurture more companies toward $100 million exits. As Chapple put it, “healthier founders lead to better returns.” READ MORE

VCs are still hiring MBAs, but firms are starting to need other experience more

The MBA-to-VC pipeline remains a very real thing. But that path is a little shakier than it once was, according to PitchBook reporting and new academic research.

Harvard placed 50 of its 1,004 MBA graduates into VC roles in 2024, with a median starting salary of $177,500. Stanford placed around 30 from its smaller class. More than 10,000 Harvard, Stanford, and Wharton MBA alumni currently hold senior positions at U.S. VC firms, PitchBook data shows. READ MORE

3 Ways Private Companies Are Reshaping Public Markets

Private markets are fundamentally transforming public markets in the United States. A surge in private capital flows is keeping some high-growth-potential companies private for longer, intensifying business competition among public and private firms, and causing more public companies to be taken private. This is shifting the investment landscape, but the effect is most acute on small-cap stocks because smaller companies have weaker fundamentals and fewer competitive advantages compared with larger firms. READ MORE

AI Is Gorging On Venture Capital. This Is Why ‘Physical AI’ Is Next

From venture capital to AI capital?

Silicon Valley continues to set the pace for global innovation. In 2025, scaleup investments reached $111 billion. Of that, a staggering $103.5 billion —  93% of the total — went into AI. In a nutshell, “VC investments” in Silicon Valley now essentially mean “AI investments.”

For every dollar invested in technology, 93 cents flow into AI. The artificial intelligence sector is literally gorging on venture capital. READ MORE

The Fed Rate Cut: A Tailwind for Private Equity in the Lower Middle Market

The Federal Reserve last week cut its benchmark interest rate by 25 basis points, lowering the federal funds rate to a range of 4%–4.25%. This move — the first since December 2024 — signals a shift toward monetary easing amid a softening labor market and persistent inflation.

Why the Fed rate cut matters for private equity

The rate cut is particularly impactful for private equity (PE) firms operating in the lower middle market, where deal economics are more sensitive to borrowing costs and capital availability. Here’s how: READ MORE

Why Private Markets Are Essential for Long-Term Investors

President Donald Trump’s recent executive order encouraging the use of private market assets in 401(k)s and other defined contribution plans is a potential game-changer for retirement plans across America.

It will prompt many questions and rulemakings from the Department of Labor and the Securities and Exchange Commission regarding transparency and fiduciary duty. But it also prompts the need to challenge, test and establish the benefits of private markets for DC plans in the first place. READ MORE

MBA Path to Venture Capital Weakens as AI Expertise Takes Priority

In the venture capital world, the once-ironclad path from a prestigious MBA program to a coveted associate role at a top firm is showing signs of strain. Recent data indicates that while MBAs continue to fill positions at venture firms, the industry is increasingly valuing operational experience, technical expertise, and sector-specific knowledge over traditional business school credentials. This shift reflects broader changes in how startups are evaluated and supported amid rapid technological advancements. READ MORE

RTW’s Wong: Biotech’s Five-Year Slump Is Over

The founder of RTW Investments believes biopharma’s five-year bear market is finally coming to an end.

In a client letter detailing August results, dated September 2 and obtained by Institutional Investor, the biotech hedge fund firm’s founder, Rod Wong, told clients, “We are increasingly optimistic that a biotech recovery could gain momentum. We continue to see a large number of asymmetric opportunities and are excited for a number of development-stage events and key new product launches this fall.”

Wong’s optimism is understandable. READ MORE

The top VC trends of 2025 and why they matter to founders

For founders, the latest trends don’t revolve around viral videos—unless venture capitalists say they do. Then those videos are the most important thing in the world.

That’s because savvy founders understand they need to know what VCs care about if they want to secure funding. Trends come and go, but if you’re not up to date, you’re falling behind. Thankfully, you don’t need to spend hours poring over social media content, news stories, or LinkedIn feeds to keep up. Fidelity Private Shares, in collaboration with Pitchbook, did the heavy lifting for you with their Top Venture Capital Trends Startups Should Watch in 2025 report. READ MORE

Venture capital roiled by H1-B visa changes

Venture capitalists are buzzing over the Trump administration's plan to charge $100,000 for H1-B visas, and it hasn't quieted down after White House clarification that these will be one-time fees on new applications.

The big picture: Most VC reaction seems to be negative. Both because of the financial burden it could place on startups, making it that much harder to compete with richer incumbents, and also because of the longer-term risks it presents to American innovation. READ MORE

6 Ways To Get A Job In Early Stage Venture Capital Firms

I have been in the venture capital business for 15 years, and I want to share some honest advice, especially for college students who are curious about VC. This is personal to me, I spoke at Web Summit on this very topic: “How to Land a VC Job."

My godson just started college, and I know how overwhelming the headlines can be right now. Tech layoffs, AI is killing jobs — It’s enough to scare anyone off. READ MORE

The Right Way To Pitch VCs And Accelerators (And Why Most Founders Get It Wrong)

There’s never been a better or tougher time to pitch investors. Venture capital funding is on the rise, with North American startups securing $184 billion last year, a 21% increase over 2023. Yet, competition has never been fiercer.

As Crunchbase News has reported, fewer seed-stage startups are reaching Series A fundraising rounds. Investors are more selective, prioritizing businesses with clear differentiation and strong scaling potential. READ MORE

Top 100 universities ranked for entrepreneurs

Great entrepreneurs can come from anywhere, but some universities have a truly exceptional track record of attracting and producing future founders.

PitchBook’s annual university rankings compare schools by tallying up the number of alumni entrepreneurs who have raised venture capital in the last decade. The rankings are powered by PitchBook data and are based on an analysis of more than 173,000 VC-backed founders. READ MORE