Private Equity 24 Hours

Last updated: August 15, 2026, 8:31 AM ET

Venture Capital and AI

Joshua Kushner, co-founder of Thrive Capital, has cautioned Silicon Valley venture capitalists against succumbing to excessive enthusiasm for artificial intelligence, emphasizing the need for continued investment discipline. In his first-ever investment letter, Kushner stated that while the AI opportunity is substantial, "it would also be a grave error in our minds to let excitement weaken our investment discipline." This sentiment comes as AI infrastructure and development continue to draw significant capital.

Major Funding Rounds and Sector Focus

The past week saw substantial funding activities, with Databricks raising another $5 billion, just eight months after a similar raise. Other significant rounds included an AI neolab, data center and electricity storage solutions, and defense technology. In a related development, Battery Ventures is backing Vetspire, an AI operating system for veterinary practices, aiming to accelerate product innovation and AI development.

Private Equity Dealmaking and Strategy

Private equity firms are actively pursuing various sectors. Shurco, a manufacturer of cargo control systems, has acquired Heavy Motions Inc. Meanwhile, Butterfly Equity, Graham Partners, and Wise Equity are reportedly transacting with nutraceuticals assets, driven by demand in the sector. In a significant carve-out, Astorg is acquiring Thermo Fisher Scientific’s microbiology business for approximately $1 billion, a move influenced by strong demand for antimicrobial testing.

Fundraising and International Expansion

EQT's €5bn Scaleup Europe Fund has debuted with a €450 million investment in ICEYE, a satellite operator valued at €10 billion. In the realm of distressed assets, private credit heavyweights including Pimco and Pollen Street are reportedly interested in a €1.2bn loan book being sold by Italy's BFF Bank. Northern Gritstone, a UK-based investor, is expanding its global reach with the opening of a San Francisco office.

Investor Intentions and Sovereign Wealth Funds

The Weymouth Retirement Board has issued a Request for Proposals (RFP) seeking private equity co-investment managers. On a larger scale, Saudi Arabia's Public Investment Fund (PIF) has outlined a new strategy for 2026-2030 that emphasizes active ownership and increased involvement of private investors, shifting from its previous focus on rapid capital deployment towards value realization. Mistral AI has secured backing from companies like ASML and Amadeus for its data centre buildout.