Jon Steinberg

Before the ink could dry on this latest Insights piece on how deal making is shaping the future competitive landscape of AI, the two power houses, Nvidia and Open AI, set a new high water mark with Monday's $100 billion announcement. This was shortly followed by yesterday's Apple-Intel announcement, with its own AI angle. Click through to see how we have built up to these notable headlines. Following is a teaser on what is inside: The AI Nation is Coming   According to Anthropic CEO, Dario Amodei, AI will be like an entirely new state of geniuses appearing on the global stage by 2027.   This isn't sci-fi speculation. It's happening now, and the numbers are staggering: -$100B+ in VC funding flowed into AI in 2024 alone -$300B projected Hyperscaler AI infrastructure spend in 2025 -$10 trillion potential contribution to global GDP   The race is intensifying: -OpenAI's $40B private market raise shattered Saudi Aramco's public market record -Anthropic tripled its valuation from $61B to $183B valuation in 6 months -Meta pivoted from "build for the future" to "buy for the future" with Scale AI -Even rivals like Meta & Alphabet are forming $10B partnerships   But here's the question keeping us up at night:   How do we balance fiduciary duty to generate returns with responsibility for the societal transformation we're funding? The companies we back today aren't just building products—they're architecting the foundational systems that will potentially govern commerce, creativity, and human interaction for decades. This isn't just about claiming territory. We're literally building new continents. The future isn't coming. It's being constructed right now, one billion-dollar deal at a time.   What role should investors play in shaping this "AI nation"? 🤔 Read my full analysis on how private markets are navigating the most transformational innovation cycle in history: https://lnkd.in/eTrHpE_k before-the-future-interpreting-the-present-state-of-artificial-intelligence-in-private-markets/ #AI #PrivateMarkets #VentureCapital #Innovation

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Incredibly excited to back TYTL Holdings, alongside Fifth Era & Blockchain Coinvestors. U.S. single-family residential real estate is a $50tr+ market, yet the options for homeowners to tap into the value of one of their largest assets remain subpar (HELOCs, reverse mortgages) U.S. consumer debt is also at record levels and people don’t want - and can’t afford - more leverage and interest payments. TYTL offers homeowners a one-time fractional sale of their title with no catches and no future obligations Deed is recorded at the municipal level and key information is recorded on the Solana blockchain, combining established U.S. property law with all the benefits of transparent and programmable blockchains. The result is an attractive alternative to debt-based products for consumers, as well as a superior pure equity prime residential real estate exposure for institutional investors (as $TYTL) TYTL, alongside Solana, is advancing the progress of tokenization of real world assets beyond hype and buzz words, all while addressing one of the largest markets in the world and providing consumers with a much needed product https://lnkd.in/eFh6g3B3

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I wonder if Domain Capital Group’s $768 million close for Domain Entertainment Fund II signals that specialist managers with deep sector knowledge and structured exposure to film libraries, music catalogs, and related rights will continue to attract meaningful institutional interest. The combination of scale, recognizable underlying assets, and an emphasis on cash yield and capital preservation makes this an especially notable fundraising outcome in entertainment investing. #PrivateEquity #Fundraising #EntertainmentInvesting

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**Supporting the Future of the Creator Economy** The newly launched Congressional Creator Caucus aims to champion the creator economy, projected to reach an impressive $500 billion by 2027. With backing from platforms like Patreon and YouTube, this initiative may reshape how creators engage with legislation and policy. For Family Offices, understanding this dynamic sector could unveil new investment opportunities. How can Family Offices better position themselves to benefit from the unprecedented growth of the creator economy? #investing #innovation #familyoffice #finance

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South Florida's climatetech startups in the Miami-Fort Lauderdale metro area have made significant strides, raising $391.3 million across 11 VC deals in the first half of 2025. This achievement already surpasses the total funding of $320.4 million from 27 deals in all of 2024, as highlighted in Emerge Americas' report. In response to this growing momentum, Mana Tech is launching the Climate Tech Scale-Up Program 2025. This unique 5-week hybrid program is designed for growth-stage companies focused on addressing the world's most pressing climate challenges. Key features of the program include: - Global Testbed for Technology: Miami's distinct geology and climate provide an ideal environment to validate technologies that tackle climate issues. - Risk & Resilience: Solutions developed here can serve as blueprints for coastal cities worldwide, from Singapore to Rio de Janeiro. - Sustainability: Participants will refine circular economy models adaptable to various urban settings. - Global Viability: Success in Miami signals to international investors and customers that your technology is robust and ready for global deployment. The program will run virtually from November 3 to 28, culminating in a high-impact, in-person week in Miami from December 1 to 5. Learn more and apply: https://lnkd.in/eW28CJ4D For further insights, check out the Emerge Americas report: https://lnkd.in/e9f2m2FF

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Great insights from our team on the convergence of digital content and ecommerce. The lines between media and marketplaces are blurring, and the future lies in integrating engaging content with seamless transactions. Our advisory role on the Stuff Digital and Trade Me partnership highlights how blending editorial content with marketplace capabilities creates unified, high-value customer journeys. It's no longer about content or commerce—it's about strategically combining both to drive engagement and stronger returns. Check out our full analysis below. #DigitalMedia #Marketplaces #Ecommerce #NorthRidgePartners

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Activist Investors seek to Oust Radcom Board "Last month, a surprising change occurred: Klil and Michael Zisapel [children of one of the founders] joined forces with investment house Value Base, headed by Victor Shamrich and Ido Neuberger, and sent a letter to the Radcom board of directors setting out their demands. "In the letter, they wrote that their major investment in Radcom reflects their belief in the business, the company's positioning in the market, and its potential to significantly improve shareholder returns. "Unfortunately, we believe that the potential has not been properly realized, due to the failure of the majority of the board of directors to implement initiatives to maximize value and effectively manage the company’s capital," it said. "According to the Zisapels and Value Base, Radcom is exhibiting "chronic underperformance that is not attributable to macroeconomic conditions, but rather stems from corporate governance and strategy deficiencies, which are directly under the responsibility of the board. "We believe that shareholder value can only be created through decisive action, starting with a significant reshuffle of the board, with experienced and independent members." #governancearbitrage https://lnkd.in/ggVfbbD2

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🚀 🗞️ Big news for Florida’s startup ecosystem. New World Angels and Miami Angels are uniting to create a statewide angel network, aligning capital, expertise, and community under one platform for founders and investors across the region and beyond! This combination brings together 160+ members, deeper industry expertise, and a single point of entry for early-stage founders seeking truly “smart money” from engaged angel investors. It also builds on years of collaboration between the two groups and reflects how Florida's innovation ecosystem is maturing and scaling. I am proud to be part of this next chapter and excited about what it means for founders and fellow investors throughout Florida and across the wider startup community. Read more here: https://lnkd.in/efQSpXyf search.sunbiz 🚀

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PittMoss's "Shark Tank origins: In 2015, Mont Handley, a former national sales director for VisitPittsburgh, went on the ABC television show “Shark Tank” to pitch his alternative for traditional substrates. Three panelists verbally committed to invest a combined $600,000. Only Mt. Lebanon native Mark Cuban followed through, joining a $1.5 million investment round with other Pittsburgh-area venture capitalists. He’s made two additional investments since". #VisitPittsburgh #PittMoss https://lnkd.in/gYNZZQkR

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On May 6, Lionsgate Studios Corp., listed on NASDAQ, and Lions Gate Entertainment Corp., listed on the New York Stock Exchange, completed the separation of the Studios Business and the STARZ Media Business, forming Lionsgate Studios Corp., listed on NYSE under the symbol LION, and Starz Entertainment Corp., listed on NASDAQ under the symbol STRZ. Each company began trading a single class of stock on May 7, 2025, and the transaction included new debt facilities and new directors joining the board of each company. Dentons was pleased to advise Lions Gate Entertainment Corp. and Lions Gate Studios Corp. on this transaction, led by Kimberly Burns, Mark Jadd, Jim Russell, Mike Schafler, FCIArb, QArb and Samantha Chang. The deal drew on cross-practice collaboration across tax, corporate, securities, financial services, litigation and regulatory, with additional support from our teams in the US, UK and other regions. Read more: https://ow.ly/734l30sMXs5 #LionsGate #Acquisition #Entertainment #ClientWin #BigDeal

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At NRF this week, creative automation showed up repeatedly in strategic roadmaps and M&A conversations—not as nice-to-have tooling, but as infrastructure that supports retail media growth. This aligns closely with our view that creative automation will be a key consolidation theme heading into 2026. As retail media networks expand formats and retailers monetize onsite, offsite, and in-store inventory, the bottleneck has shifted to creative enablement: how quickly product data, merchandising inputs, and compliance requirements can be translated into performant, channel-ready creative at scale. AI is materially improving creative throughput and reducing manual effort, making these platforms more scalable and increasingly profitable. As a result, creative automation is moving closer to the core of retail media and retail tech stacks. #NRF2026 #RetailMedia #CreativeAutomation #RetailTech #CommerceMedia #CTV #InStoreMedia #InStoreDigitalSignage #InStoreScreens #DOOH #AdTechMAndA #PlatformConsolidation #PrivateEquity #CorporateDevelopment #ExecutionIsTheMoat

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At Brightstar Capital Partners, we believe success begins with strong relationships built on trust, alignment, and a shared vision to help great businesses grow. While capital is essential, we focus on building long-term partnerships built through hands-on experience and a commitment to lasting value. Our investment evaluation process is grounded in sectors we know deeply. We focus on cash-flowing businesses where we see an opportunity to optimize operations and foster ownership culture, helping to grow the company better than it could on its own. Ultimately, we judge success by a simple question. Five or 10 years after we exit, if someone calls a founder or partner we’ve worked with and asks, “Should I work with Brightstar?” I want the answer to be yes. That is our definition of real value creation.

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Last night, we closed Soundcore Capital Partners Fund III at $450 million — oversubscribed at the hard cap. 🚀 117 LPs. 12 countries. I am deeply grateful to every Fund III LP for the trust you placed in our team and our strategy. 11 years ago, I started Soundcore with a simple conviction: that small business owners in non‑discretionary service sectors deserved a respectful, operationally intensive partner — and that PE could be built the right way, from the ground up. There was no platform to leverage. No built‑in capital base to hire the talent this strategy demands. From the start, what existed was an unwavering conviction in the mission, a relentless work ethic, and a commitment to building this firm—step by step—into the very best in PE. Using the formula I created, we have built market‑leading platforms in highly fragmented, essential service sectors — long before it was fashionable to do so. Like any long journey, Soundcore was tested in ways I could not have anticipated. There were moments when staying the course was difficult and uncomfortable. What mattered most during those periods was resilience and integrity. Over the past several years, I spent countless hours on the road meeting with existing and prospective LPs — engaging in deep DD and thoughtful partnership discussions. The scrutiny made Soundcore better. More disciplined. More durable. At the same time, our team remained intensely focused on the portfolio and employees driving daily performance. Operationally, Fund III already reflects one of the most focused and active periods in our firm’s history: 👉 Five platforms built with over $540 million in revenue 👉 28 acquisitions completed 👉 17 acquisitions in 2025 alone — our most active year to date 👉 Meaningful expansion of our team, with deeper operational and investment expertise The LPs in Fund III were discerning and did the work. They conducted extensive DD and evaluated us based on data and firsthand reference work. We are grateful for their rigor and for their partnership mindset. We also diversified and strengthened our global LP base across public and corporate pensions, endowments, foundations, consultants, insurance companies, single family offices, fund of funds, multi-family offices, wealth managers, asset managers, and ultra-high net worth investors. We do not take that responsibility lightly. The close of Fund III is not a finish line — it is a mandate. Our focus remains singular: disciplined execution, operational value creation, and delivering performance consistent with the trust placed in us. To our LPs — thank you for your rigor, candor, and partnership. To the Soundcore team — your professionalism, resilience, and unwavering confidence in what we are building made this possible and I share this achievement with you. To my wife — thank you for the strength, patience, and support that made this journey possible. We move forward focused, proud, aligned, and accountable. Onward.

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The Tech Platforms Powering the CTV Revolution (Part 2 of the 2025–2026 CTV Playbook) After mapping the macro trends defining streaming’s ad supported surge, this report from Suzane Mokbel goes beneath the surface to the systems making CTV measurable, accountable, and scalable. From unified identity and AI driven creative to cross screen measurement, retail media convergence, and fraud prevention, it highlights the technologies that are quietly building television’s next decade. 📊 Featuring: The Trade Desk, Equativ, FreeWheel, Magnite, PubMatic, Innovid, KERV.ai, Jivox, Amagi, Quorum Data, and more. #CTV #AdTech #RetailMedia #Streaming #AI #Programmatic #MarketingTechnology

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This week's headlines were punctuated by continued interest in the RIA world, with Warburg Pincus LLC leading a $1B financing round of Cerity Partners at an $8.5B valuation, a continued focus on 401(k) and retirement assets by the industry's largest asset managers - with Blue Owl Capital and Sixth Street Growth leading a $385M Series E into Vestwell and Blackstone reportedly looking to grow the headcount in its wealth business, and a spotlight on the private credit market with Blue Owl Capital's BDCs. Other big news includes a number of oversubscribed fundraises, including Veritas Capital closing on a $15.3B private equity fund, HGGC raising a $3.2B private equity fund, and Thrive Capital doubling its fund size to $10B in its most recent fundraise. And much more in the latest Alt Goes Mainstream Weekly News Roundup ... Stay up to speed on the latest industry news across: 🏦 Wealth Management 🌲 Evergreen Funds 💸 Private Equity 💳 Private Credit 🛠️ Private Markets Infrastructure 🏠 Real Estate 🥈 Secondaries 🛠️ Infrastructure 🥩 GP Stakes 🔬 Private Markets Research https://lnkd.in/eFCQ4SRY

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**Fubo and Hulu Live TV: A Strategic Fusion in Live Sports Streaming** The recent merger of Fubo with Hulu Live TV reflects a growing trend in the streaming industry—converging platforms to enhance viewer experience and broaden content offerings. As Fubo integrates its live sports features into a more comprehensive service, we at ElevenX Capital see the potential for this model to reshape competitive dynamics within the sector. How do you think this merger will impact subscriber growth and market positioning for both brands? #investing #innovation #venturecapital #entrepreneurship

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