Venture

Venture

NANC bets that political insiders with proximity to regulation, defense contracts, and committee hearings own quality compounders. The portfolio looks like a tech-heavy S&P 500. The top five positions are NVIDIA at 10.44%, Microsoft at 7.88%, Alphabet at 4.88%, Amazon at 4.84%, and Apple at 3.98%, with names like American Express, Salesforce, Philip Morris, and Netflix filling the top ten. The fund holds roughly $255 million and charges 0.74%.

Canaccord’s thesis rests on two pillars. First, Intuitive Machines' bottom line inflected positive during the quarter, beating the firm's estimate by 128%, even as the top line missed expectations by 18%. Adjusted EBITDA swung to positive $2.67 million from a loss in the prior year. Second, Canaccord expects the NASA moon base (Andromeda) and Golden Dome programs to drive expansion in the second half of the year.

Eighteen48 Partners, the London-based alternative asset manager co-founded by Julien Sevaux, Tarek AbuZayyad, and Edward Clive, has closed €175 million for the first tranche of its inaugural private equity fund. The fund is targeting €350 million in total and will back mid-market buyouts across Europe, sourced exclusively through independent sponsors, dealmakers who find and negotiate acquisitions before raising the capital to complete them, rather than investing from a pre-committed pool.

AntSeed instead allows buyers to discover providers directly, send requests peertopeer, and settle payments instantly in USDC to a provider's wallet. According to a media statement, the network requires no accounts, no API keys, and has no approval process or central point of control. OpenRouter and similar aggregators helped define the market for unified AI access, but that market does not need to remain centralized, said Shahaf Antwarg, Antseed's cofounder.

Monarq, Flare, and Upshift have introduced MXRPY, a managed multistrategy XRP yield vault designed to give XRP holders diversified returns through a single product. The Monarq XRP Yield Vault allows users to deposit FXRP into a professionally managed vehicle that allocates capital across options trading, basis and fundingrate arbitrage, and on-chain XRPFi strategies. Monarq Asset Management oversees the vault, which is built on Upshift's institutional infrastructure.

Benchmark is famously selective in the companies it chooses, and backs hardware companies so rarely that Vishria was kicking himself for giving time to Cerebras. "Why did I take this meeting?" he kept muttering. At one point, he even messaged his assistant, who manages his calendar, and bugged her: "Why did you let me take this meeting?" Vishria recalls.

DRAM holds nine positions, with 73% of assets in just three names: Samsung Electronics at 25%, SK hynix at 24%, and Micron Technology at 24%. The remaining sleeve covers Kioxia, Sandisk, Western Digital, Seagate, Nanya, and Winbond. South Korea accounts for 49% of geographic exposure, the U.S. for 38%, Taiwan for 6%, and Japan for 5%.

Our unique approach is to use open-endedness to get to recursive self-improvement, which no one has yet achieved. It's an elusive goal for a lot of people. A lot of people already assume it happens when you just do auto-research. You know, you can take AI and ask it to make some other thing better, which could be a machine learning system, or just a letter that you write, or, you know, whatever it might be, right? But that's not recursive self-improvement. That's just improvement.

The school's endowment invested $20 million in OpenAI during a very early fundraising round, well before Microsoft's $1 billion investment in 2019 and before most people had heard of the AI lab. That stake is now expected to be worth roughly $2 billion, representing a staggering 9,900% return on a single investment.

Intertek has become the latest FTSE 100 business to agree to a takeover, backing a 10.6bn approach from a private equity firm owned by Sweden's billionaire Wallenberg family. After rebuffing three previous approaches, Intertek's board said it was minded to recommend the 60-a-share tilt from the Swedish buyout firm EQT to shareholders, if there is a firm offer. The deal is worth 10.6bn including debt, or 9.4bn without. The previous bids were pegged at 58, 54 and 51.0 a share.

Any sale or transfer of Anthropic stock, or any interest in Anthropic stock, offered by these firms is void and will not be recognized on our books and records.

Harada announced the new studio with a short video discussing how he landed at SNK and laying out his vague creative intentions. Essentially, he said he wants to focus on making great games with trusted colleagues, and it sounds like VS Studio is still in its infancy, as he encouraged interested developers to apply to work there. In a press release, Harada said the studio's philosophy is, "beyond tradition, crafted to perfection," and "VS" stands for a number of ideas, including Visionary Standard, Volition Shift and Vanguard Spirit.