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5 min read
Revenue-Based Repurchase Mechanism With No Exit Required
Next Wave Partners has launched two Safer-financed venture clusters, now open for co-investment: Intelligent Infrastructure and Climate...
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13 min read
The Future of Venture Capital: Rethinking Startup Fundraising in 2026
Executive Summary This whitepaper argues that early-stage fundraising in 2026 is no longer a cyclical “tight market” but a structural breakdown of...
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7 min read
JPMorgan's $1.5 Trillion Plan and the Financial-Industrial State
America quietly shifted from building public assets to backstopping private balance sheets. JPMorgan's $1.5 trillion initiative is the latest proof....
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13 min read
Trump's $100k H1B visa: big tech wins, startups lose
The presidential proclamation instituting a $100,000 fee for new H1B visa petitions represents a structural break in U.S. high-skilled immigration...
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7 min read
The Hitchhiker's Guide to the Long Arc of AI Innovation
Current AI faces fundamental limits in energy, latency, and real-world robustness. Four paradigm shifts are emerging, and the companies that...
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7 min read
RobinHood unveils plan to break Wall Street's IPO cartel
While crypto exchanges chase profits from meme coins and speculative tokens, Robinhood is weaponizing blockchain technology against the financial...
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14 min read
The Fall of Venture Capital: Why the $40B OpenAI Deal and AI Overconcentration Signals Systemic Collapse
In Q1 2025, artificial intelligence startups captured a staggering 57.9% of global venture capital funding, marking the most concentrated investment...
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11 min read
The People’s Portfolio: Investing in Intelligent Infrastructure
In January, Hamilton Lane and Republic launched a bold experiment: a private infrastructure fund open to retail investors. With a minimum investment...
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8 min read
GDP shock: Venture Capital's government bailout begins
The Trump administration's trade war has created widespread economic disruption and the economic indicators for Q1 2025 read like a coroner's report....
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14 min read
2025 Annual Letter
To those building beyond the status quo, our friends and supporters: We founded Next Wave Partners three years ago because we could no longer play...
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2 min read
Safer: Accounting Treatment Whitepaper for Startup CFOs and Accounting Firms
Next Wave created and open sourced the innovative Safer (Simple Agreement for Future Equity with Repurchase) financing instrument. We're thrilled to...
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4 min read
Introducing the Safer: A Better Alternative to Safes for Startup Financing
It has been almost ten years since YCombinator, the renowned Silicon Valley startup incubator, introduced the Simple Agreement for Future Equity, or...