Last updated: March 19, 2026, 8:30 PM ET
Private Equity Dealmaking & Capital Markets
QHP Capital completed a substantial $1.1 billion continuation fund for Azurity Pharmaceuticals, transaction led by Harbour Vest Partners with Pantheon Ventures as a key participant, signaling continued appetite for holding high-quality assets rather than forcing immediate exits. This move contrasts with broader secondary market trends where disciplined sellers among limited partners have brought assets to market over the last 15 months, distinguishing themselves from general LP activity. Meanwhile, the notion that co-investing is waning due to high-profile pivots away from direct investment appears overstated, as LPs remain willing to allocate capital directly alongside general partners despite recent market shuffling.
Venture & Founder Sentiment
In the venture space, the decentralized social platform Bluesky secured $100 million in Series B funding following a CEO transition, with capital earmarked for scaling the team and advancing development of its ATProto infrastructure. This influx of capital contrasts sharply with worrying sentiment observed in the UK startup ecosystem, where a new survey suggests one in five founders plans to relocate their base of operations within the next year. Startups achieving rapid expansion in the region are increasingly focusing on "revenuemaxxing," which describes the fastest-growing UK firms prioritizing immediate, high-quality revenue generation over speculative growth metrics.