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Michael Spellacy @mgspellacy

CEO at Atlas Crest Investment Corp. Transformational Growth Leader | Investor, Advisor, Strategist | Views my own

Joined December 2015
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  • Followers 11,858
730 Photos and videos
Yale's legendary endowment model is under pressure. With private equity trailing the S&P and liquidity dwindling, even Yale is selling stakes and cutting back on traditional hedges. It's time for institutional investors to retool. #PrivateEquity wsj.com/finance/investing/ya…

Yale’s Trendsetting Private-Equity Strategy Is Getting Harder to Pull Off

Universities and other institutions have built up large private-equity holdings, but they are now lagging behind the S&P 500 and aren’t easy to shed.

wsj.com
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Venture capital often comes with tradeoffs that don't align with most founders' goals. Many entrepreneurs build stronger, more profitable businesses by staying independent. Success isn't defined by a funding round, but by creating lasting value.
Andrew Gazdecki
@agazdecki
2 Sep 2025
99% of startup founders shouldn’t raise venture capital. You’ll make way more money and that’s the whole point of building a business.
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Goldman is launching a $10B hybrid-capital fund plus a $15B secondaries fund to help PE exit logjams. Investors get liquidity while keeping control, and sponsors gain time. Smart answer to a slow market. #PrivateEquity #Secondaries #HybridCapital bloomberg.com/news/articles/…

Goldman Sees Lucrative Lifelines in Easing Private Equity Logjam

Goldman Sachs Group Inc. is looking to capitalize on helping private equity clients saddled with bets they can’t exit.

bloomberg.com
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Deal market slow? Continuation funds are old news - now it's CV-squared. That's right: PE firms are rolling portfolio companies from one continuation fund into another to keep the value train moving. #PrivateEquity bloomberg.com/news/newslette…

Private Equity Invents New Ways to Gin Up Cash in Deal Drought

Buyout firms are putting new spins on older methods of money-gathering.

bloomberg.com
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OpenAI's private valuation nears $500B... more than any tech IPO ever. SpaceX and Anthropic? Not far behind. These stats are reflective of a class of AI assets with scale to match. wsj.com/articles/startup-val…

Startup Valuations Blast Beyond Historic IPO Market Caps

Only a few tech companies have exceeded $100 billion in their U.S. trading debut, a valuation OpenAI and SpaceX have easily surpassed as private companies.

wsj.com
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A24's story shows how venture capital can transform a niche player into a mainstream force. The challenge will be scaling without losing the creative edge that made it distinctive in the first place. #FilmIndustry newyorker.com/magazine/2025/…

A24’s Empire of Auteurs

The studio is brilliant at selling small, provocative films. Now it wants to sell blockbusters, too.

newyorker.com
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Private equity is innovating with liquidity: portfolio loans, continuation vehicles, and even CV-squared collateral. Investors get a way out while firms keep their winners. bloomberg.com/news/articles/…

Private Equity Keeps Inventing New Ways to Give Cash to Investors

Private equity firms keep ginning up ways to get cash into the hands of investors as a deal drought extends into its third year.

bloomberg.com
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Venture debt just hit $53B in 2024... record volume despite fewer deals. Lenders are leaning into mature private companies with real revenue instead of early-stage plays. Smart, strategic shift. wsj.com/articles/venture-deb…

Venture Debt Firms Tilt Toward Mature Companies

The asset class has shifted to late-stage lending as companies remain private for longer.

wsj.com
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.@WarrenBuffett recently took a $3.8B hit on #KraftHeinz - writing down its value and indicating a reckoning with overhyped legacy deals. Leadership transitions are already starting under tough market truths. @danprimack axios.com/2025/08/05/berkshi…

Warren Buffett ignored his own private equity advice – and paid the price

Before and after the Kraft Heinz deal, Buffett was a vocal critic of private equity.

axios.com
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Continuation funds are surging - $41B in H1 2025, now 19% of all PE exits. Up 60% from a year ago. Investors choose exit or rollover. Sponsors keep control. It's quickly becoming exit strategy 2.0. @allisonmcneely bloomberg.com/news/articles/…

What Are Private Equity’s Continuation Funds? How Do They Work?

Private equity, the business of buying companies, fixing them up and selling them for a profit, is in a bind. The industry boomed during the era of low interest rates, when private equity firms could...

bloomberg.com
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Investors want their money back but it's stuck in “zombie funds.” PE exits are falling behind new deals... 3 deals for every exit in 2025, per PitchBook. Fees roll on while returns stall. #PrivateEquity #Liquidity #ZombieFunds cnbc.com/2025/08/08/private-…

Private equity investors want their money back — but it's tied up in ‘zombie funds’

Private equity firms are struggling to sell the companies they own — and that's locking investors' money in aging funds with no clear exit in sight.

cnbc.com
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AI is rewiring #VC math. According to Jon McNeill (Tesla, Lyft), DVx startups are now reaching Series A with 80% less seed funding - thanks to AI agents replacing teams early on. Time to rethink equity models. #SeriesA axios.com/2025/08/07/ai-vent…

AI could change seed-stage VC math

AI is huge. And also could make some things smaller.

axios.com
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Series A's are tougher than ever before. Just 11% of seed-funded startups since 2020 made it, and 2024 grads are facing a ~3% success rate. Funding cycles now hover around 2½ years. ⏳ #VentureCapital #StartupFunding wsj.com/articles/there-are-n…

There Are No Easy A’s in Venture Capital These Days

The AI revolution is creating longer paths to Series A rounds for many startups.

wsj.com
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This is a great way to strip the noise away and focus on what's really valuable in an investment decision. These 3 questions force clarity on industry fundamentals, the company's staying power & valuation discipline. Simple to state, but answering them well takes deep conviction.
PrivateEquityGuy (Mikk Markus)
@PrivatEquityGuy
9 Aug 2025
Spoke to a private equity professional who bought two companies. He said that after years of study, he can boil down every investment thesis to three things: 1. Why does this industry exist and will continue to do so? 2. Why does this company exist and will continue to do so? 3. And at what price is this attractive?
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Longevity startups are facing a reality check. Big market, big interest. Science moves at its pace, and the business model takes precision. Next-gen founders bring grit, patience, and a clear path to revenue. forbes.com/sites/sindhyavall…

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VCs are shaping the story just as much as the startup. Podcasts like 20VC and All-In fuel deal flow, build influence, and change how tech hears itself. bloomberg.com/news/articles/…

How Podcast-Obsessed Tech Investors Made a New Media Industry

Podcasts hosted by venture capitalists set the narrative in tech, changing the way that insiders—and everyone else—learn about the world of startups.

bloomberg.com
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Secondaries aren't plan B anymore. Private equity is leaning hard into continuation funds and LP interest sales to keep capital moving. Waiting for a perfect exit is no longer the strategy. #Secondaries #VC axios.com/pro/merger-deals/2…

PE's hottest exit is no exit at all

Global secondary transactions could surpass $210 billion by 2026.

axios.com
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PE deal flow has slowed so much that many mid-market firms are turning into #ZombieFunds stuck with old assets, no new capital, and limited exits. Secondary buyers and liquidity vehicles are quickly becoming critical tools. #PrivateEquity
Mo Hossain
@MoHossain
23 Jul 2025
PE’s age-old sin? Overpay at the door, get stuck at the exit—buying’s easy, selling’s hard, and only Uncle Sam’s checkbook can free the zombie funds. 🗞️Private Equity’s Deal Drought Is Creating Zombies bloomberg.com/news/newslette… #Secondary #mergersandacquisitions #markets #MnA #privateequity #deals #lp #lbo #investors #exit #valuation #Gp #LBO #interestrate #fed #fund #Investor
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The private equity #MiddleMarket is getting squeezed. Smaller PE funds are struggling to raise capital and price deals while large firms keep pulling in cash and expanding. This shakeup in the middle tier is reshaping how the industry survives & adapts. bloomberg.com/news/articles/…

Private Equity’s Middle Tier is Struggling as Capital Tightens and Exit Options Dry Up

Once a fundraising success, Trilantic is now selling assets at a steep discount as middle-market private equity firms face a cash crunch.

bloomberg.com
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VCs are betting big on #LowTox brands not just because it sounds good, but because smart, transparent products are winning trust (and market share). Cleaner really is better. #VentureCapital #ConsumerProducts forbes.com/sites/josipamajic…

Why VCs Are Betting On ‘Low-Tox’ Consumer Brands

The venture capital world is witnessing a profound transformation as investors pivot toward "low-tox" companies—brands built around non-toxic formulations across beauty, personal care, home products,...

forbes.com
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