Private Equity 3 Days

Last updated: August 15, 2026, 8:30 AM ET

Venture Capital and AI Frenzy

Joshua Kushner, co-founder of Thrive Capital, has cautioned Silicon Valley venture capitalists against excessive enthusiasm for artificial intelligence, emphasizing the need for continued investment discipline despite the sector's immense potential. He stated in his first investment letter that "it would also be a grave error in our minds to let excitement weaken our investment discipline." Meanwhile, Thrive Holdings has secured $2 billion in new funding at a $12 billion valuation, with participation from SoftBank, D1 Capital Partners, and Altimeter Capital, aiming to bring AI to the enterprise. Battery Ventures is backing Vetspire, an AI operating system for veterinary practices, to accelerate product innovation and AI development. In a similar vein, Resurgens Technology Partners is investing in Qarma, an AI-powered quality and compliance software platform that connects various stakeholders across global supply chains. The enthusiasm for AI is also evident in the venture capital landscape, with 40 companies joining the Crunchbase Unicorn Board in July, the highest count in four years, driven by sectors including financial services, robotics, and AI orchestration. Sarah Buchner, a carpenter by background, has founded Trunk Tools, an AI construction startup.

Mega-Deals and Infrastructure Investments

Databricks is reportedly raising another $5 billion, a significant sum following its previous $5 billion raise just eight months ago. The largest funding rounds this week also include an AI neolab, data center and electricity storage solutions, and defense technology. In a major potential transaction, Silver Lake and Digital Bridge are exploring an exit for Vantage Data Centers, a hyperscale operator, with valuations potentially reaching $100 billion, considering either an IPO or a sale. Silver Lake is also in discussions to take Workday private in what could be one of the largest software buyouts ever. Infrastructure plays are also gaining traction, with CVC DIF acquiring a majority stake in German data center operator firstcolo from Cube Infrastructure. Similarly, ASML, Amadeus, and other entities are backing Mistral's data centre buildout.

Sector-Specific Acquisitions and Funding

Private equity firms are actively pursuing deals across various sectors. Thoma Bravo is set to acquire the specialty insurance risk exchange platform Accelerant for more than $4 billion, with existing investors and founders retaining equity. In the food supply chain, Apax is selling its logistics provider Tosca to Goldman Sachs Alternatives. Butterfly Equity, Graham Partners, and Wise Equity are among the firms transacting with nutraceuticals assets, while Astorg has completed its $1 billion buyout of Thermo Fisher's microbiology business. In the healthcare sector, Marlin’s Radar Healthcare has acquired the patient experience platform Cemplicity. Shurco, backed by Behrman, has acquired manufacturer Heavy Motions Inc., expanding its control systems offerings. Wolf-Gordon, supported by Charger, has acquired interior surfaces providers Andor Willow and Walls & Interiors. Optimum Energy, backed by Bernhard, has acquired Hussung Mechanical Contractors and HMC Service Company, serving various critical facilities. Reverence Capital-backed Sunstar has acquired insurance agency RJR Faribo, and RF Investment Partners has invested in drilling company RJ Underground.

Fundraising and Investor Strategies

EQT's Scaleup Europe Fund has debuted with an initial €450 million investment in ICEYE, a satellite operator valued at €10 billion. EQT and Digital Garage have increased their tender offer for Kakaku.com to ¥3,570 per share, surpassing a competing bid. In the secondaries market, New 2ND Capital is nearing a $1.25 billion close for its Fund IV. Korea's National Pension Service (NPS) is increasing its exposure to secondaries, adding another $1 billion, bringing its total secondaries funds and co-investments to approximately $3.7 billion. The NPS has also reported a 12% rise in its private equity Assets Under Management (AUM), though overall growth is slowing. Hollyport Capital has secured backing from Blue Owl while remaining independent, reflecting industry growth dynamics. Blackstone is exploring a broader push into the US retirement market, considering the integration of private markets into target-date funds and managed accounts. The Weymouth Retirement Board has issued an RFP for private equity co-investment managers.

Market Trends and Regulatory Scrutiny

La Caisse's private equity portfolio experienced a 4.3% decline in the first half of 2026, significantly underperforming a benchmark that gained 8.0%, highlighting the divergence between private markets and public markets driven by AI rallies. Investors are increasingly focusing on local economy themes, according to a former heavyweight LP turned consultant. The UK spinout investor Northern Gritstone is expanding its reach with a new San Francisco office. In Europe, private credit heavyweights are reportedly circling a €1.2 billion ($1.4 billion) non-performing loan package being sold by Italy's BFF Bank. The US Securities and Exchange Commission (SEC) is intensifying its focus on private funds valuations, with examiners requesting specific fund details and enforcement actions picking up.

European Fintech and Emerging Technologies

European fintech is grappling with a significant culture problem, according to recent analysis. Meanwhile, Multiverse Computing, a Spanish startup, is vying to become Europe's next AI champion and is nearing a $500 million Series C funding round. Index Ventures is reportedly in talks to lead a $500 million round for a new AI lab founded by a former Deep Mind researcher. In the drone sector, VCs are watching ten drone startups in particular for 2026. London's venture lab is focusing on building deep-tech solutions to save the planet.