<?xml version='1.0' encoding='UTF-8'?><urlset xmlns="http://www.sitemaps.org/schemas/sitemap/0.9" xmlns:video="http://www.google.com/schemas/sitemap-video/1.1" xmlns:image="http://www.google.com/schemas/sitemap-image/1.1"><url><loc>https://nextwave.partners/research/venture-capital-government-bailout/</loc><image:image><image:loc>https://nextwave.partners/hubfs/NWP%20logos/nwp-logo-light.webp</image:loc><image:caption>nwp-logo-light</image:caption><image:title>nwp-logo-light</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/Rethinking%20Startup%20Fundraising%20in%202026%20600x350.webp</image:loc><image:caption>Rethinking Startup Fundraising in 2026 - Next Wave Partners industry report</image:caption><image:title>Rethinking Startup Fundraising in 2026 600x350</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/NWP%20Venture%20Studio%20Report%20600x350.webp</image:loc><image:caption>Next Wave Venture Studio Report - Revenue-Based Repurchase Mechanism With No Exit Required</image:caption><image:title>NWP Venture Studio Report 600x350</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/JP%20Morgan%20w%20Overlay%20600x350.webp</image:loc><image:caption>JPMorgan headquarters lobby with network overlay - JPMorgan's $1.5 Trillion Plan and the Financial-Industrial State</image:caption><image:title>JP Morgan w Overlay 600x350</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Imported_Blog_Media/image-3-2.png</image:loc><image:caption>Executive Order 14196 establishing a United States Sovereign Wealth Fund, Federal Register February 10, 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600x350</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Imported_Blog_Media/image-4.png</image:loc><image:caption>Carlota Perez technological revolution lifecycle diagram showing installation and deployment periods from irruption through maturity</image:caption><image:title>image-4</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/gdp_shock_600x350.webp</image:loc><image:caption>US Capitol building satire illustration - GDP Shock: Venture Capital's government bailout begins</image:caption><image:title>gdp_shock_600x350</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Imported_Blog_Media/image-1-2.png</image:loc><image:caption>Atlanta Fed GDPNow real GDP estimate chart showing sharp decline from 2.3% to negative 2.8% in early March 2025</image:caption><image:title>image-1-2</image:title></image:image><lastmod>2026-03-24</lastmod></url><url><loc>https://nextwave.partners/research/venture-capital-openai-ai-overconcentration/</loc><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Imported_Blog_Media/ai-vs-cloud-vc-allocation-2025.png</image:loc><image:caption>Chart showing venture capital allocation shifting from cloud computing to AI from 2010 to 2025, with AI rising from 1% to nearly 60%</image:caption><image:title>ai-vs-cloud-vc-allocation-2025</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/JP%20Morgan%20w%20Overlay%20600x350.webp</image:loc><image:caption>JPMorgan headquarters lobby with network overlay - JPMorgan's $1.5 Trillion Plan and the Financial-Industrial State</image:caption><image:title>JP Morgan w Overlay 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600x350</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/Trump%20H1B%20w%20Overlay%20600x350.webp</image:loc><image:caption>International tech workers waiting at an airport - Trump's $100k H1B visa: big tech wins, startups lose</image:caption><image:title>Trump H1B w Overlay 600x350</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/NWP%20logos/nwp-logo-light.webp</image:loc><image:caption>nwp-logo-light</image:caption><image:title>nwp-logo-light</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/Rethinking%20Startup%20Fundraising%20in%202026%20600x350.webp</image:loc><image:caption>Rethinking Startup Fundraising in 2026 - Next Wave Partners industry report</image:caption><image:title>Rethinking Startup Fundraising in 2026 600x350</image:title></image:image><lastmod>2026-03-24</lastmod></url><url><loc>https://nextwave.partners/safer</loc><image:image><image:loc>https://nextwave.partners/hubfs/Section%20backgrounds/arcnode_bgd-1.webp</image:loc><image:caption>arcnode_bgd-1</image:caption><image:title>arcnode_bgd-1</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Storyblocks%20imagery/department-members-reviewing-paperwork-in-boardroom-office-meeting-to-discuss-new-busi-SBI-349581237_crop_resize.jpg</image:loc><image:caption>Professionals reviewing legal documents in a meeting</image:caption><image:title>department-members-reviewing-paperwork-in-boardroom-office-meeting-to-discuss-new-busi-SBI-349581237_crop_resize</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Iconography/Data-File-Search--Streamline-Ultimate.svg</image:loc><image:caption>Data file search 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(1)</image:title></image:image><lastmod>2026-07-01</lastmod></url><url><loc>https://nextwave.partners/research/revenue-based-repurchase-mechanism-with-no-exit-required</loc><image:image><image:loc>https://nextwave.partners/hubfs/NWP%20logos/nwp-logo-light.webp</image:loc><image:caption>nwp-logo-light</image:caption><image:title>nwp-logo-light</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/NWP%20Venture%20Studio%20Report%20600x350.webp</image:loc><image:caption>Next Wave Venture Studio Report - Revenue-Based Repurchase Mechanism With No Exit Required</image:caption><image:title>NWP Venture Studio Report 600x350</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/Trump%20H1B%20w%20Overlay%20600x350.webp</image:loc><image:caption>International tech workers waiting at an airport - Trump's $100k H1B visa: big tech wins, startups lose</image:caption><image:title>Trump H1B w Overlay 600x350</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/NWP%20logos/nextwave-logo-white.png</image:loc><image:caption>Next Wave Partners company logo</image:caption><image:title>nextwave-logo-white</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/Rethinking%20Startup%20Fundraising%20in%202026%20600x350.webp</image:loc><image:caption>Rethinking Startup Fundraising in 2026 - Next Wave Partners industry report</image:caption><image:title>Rethinking Startup Fundraising in 2026 600x350</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/JP%20Morgan%20w%20Overlay%20600x350.webp</image:loc><image:caption>JPMorgan headquarters lobby with network overlay - JPMorgan's $1.5 Trillion Plan and the Financial-Industrial State</image:caption><image:title>JP Morgan w Overlay 600x350</image:title></image:image><lastmod>2026-03-24</lastmod></url><url><loc>https://nextwave.partners/research/robinhood-ipo-wall-street/</loc><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Imported_Blog_Media/image-3.png</image:loc><image:caption>Historical photograph of a massive log jam on a river</image:caption><image:title>image-3</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/NWP%20Venture%20Studio%20Report%20600x350.webp</image:loc><image:caption>Next Wave Venture Studio Report - Revenue-Based Repurchase Mechanism With No Exit Required</image:caption><image:title>NWP Venture Studio Report 600x350</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/Rethinking%20Startup%20Fundraising%20in%202026%20600x350.webp</image:loc><image:caption>Rethinking Startup Fundraising in 2026 - Next 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icon</image:caption><image:title>next_gen_power_navy</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Portco%20+%20partner%20logos/genios_white-80ht.png</image:loc><image:caption>Genios company logo</image:caption><image:title>genios_white-80ht</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Section%20backgrounds/featured_navy_mobile_bgd-1-1.webp</image:loc><image:caption>featured_navy_mobile_bgd-1-1</image:caption><image:title>featured_navy_mobile_bgd-1-1</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/NWP%20logos/nextwave-logo-white.png</image:loc><image:caption>Next Wave Partners company logo</image:caption><image:title>nextwave-logo-white</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Iconography/AI_navy.svg</image:loc><image:caption>AI and automation icon</image:caption><image:title>AI_navy</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Section%20backgrounds/founders_bgd_gemini_4.webp</image:loc><image:caption>founders_bgd_gemini_4</image:caption><image:title>founders_bgd_gemini_4</image:title></image:image><lastmod>2026-05-20</lastmod></url><url><loc>https://nextwave.partners/investors</loc><image:image><image:loc>https://nextwave.partners/hubfs/NWP%20logos/New%20site%20featured%20image%20(1).png</image:loc><image:caption>Next Wave Partners - Advance the world</image:caption><image:title>New site featured image (1)</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Iconography/capital_funding_navy.svg</image:loc><image:caption>Capital funding icon</image:caption><image:title>capital_funding_navy</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Iconography/network_community_navy.svg</image:loc><image:caption>Network 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logo</image:caption><image:title>surge_80ht</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Section%20backgrounds/investors_mobile_bgd_gemini_1.webp</image:loc><image:caption>investors_mobile_bgd_gemini_1</image:caption><image:title>investors_mobile_bgd_gemini_1</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Section%20backgrounds/investors_bgd_gemini_2.webp</image:loc><image:caption>investors_bgd_gemini_2</image:caption><image:title>investors_bgd_gemini_2</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Portco%20+%20partner%20logos/genios_white-80ht.png</image:loc><image:caption>Genios company 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circuit board in a lab</image:caption><image:title>close-up-of-technician-examining-circuit-board-under-microscope-in-electronics-worksho-SBI-351368776-1-resized</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Portco%20+%20partner%20logos/adaptive_swarm-80ht.png</image:loc><image:caption>Adaptive Swarm company logo</image:caption><image:title>adaptive_swarm-80ht</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Team%20headshots/next-wave-founders_cropped2.webp</image:loc><image:caption>next-wave-founders_cropped2</image:caption><image:title>next-wave-founders_cropped2</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Portco%20+%20partner%20logos/cronai_80ht.png</image:loc><image:caption>CronAI company logo</image:caption><image:title>cronai_80ht</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Portco%20+%20partner%20logos/carbon-geocapture-logo-80ht.png</image:loc><image:caption>Carbon Geocapture company logo</image:caption><image:title>carbon-geocapture-logo-80ht</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/NWP%20logos/nextwave-logo-white.png</image:loc><image:caption>Next Wave Partners company logo</image:caption><image:title>nextwave-logo-white</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Storyblocks%20imagery/engineers-in-lab-discuss-robotic-bionic-arm-made-on-3d-printer-SBI-350938928-1-resized.jpg</image:loc><image:caption>Engineers testing a robotic arm prototype</image:caption><image:title>engineers-in-lab-discuss-robotic-bionic-arm-made-on-3d-printer-SBI-350938928-1-resized</image:title></image:image><lastmod>2026-03-27</lastmod></url><url><loc>https://nextwave.partners/research/safer-vs-safe-startup-financing/</loc><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/NWP%20Venture%20Studio%20Report%20600x350.webp</image:loc><image:caption>Next Wave Venture Studio Report - Revenue-Based Repurchase Mechanism With No Exit Required</image:caption><image:title>NWP Venture Studio Report 600x350</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/NWP%20logos/nwp-logo-light.webp</image:loc><image:caption>nwp-logo-light</image:caption><image:title>nwp-logo-light</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Imported_Blog_Media/64db06a1b56ed775d9698a71_safer-payoff.png</image:loc><image:caption>Chart showing Safer repurchase amount decreasing over time as cumulative revenue-based payments increase</image:caption><image:title>64db06a1b56ed775d9698a71_safer-payoff</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/JP%20Morgan%20w%20Overlay%20600x350.webp</image:loc><image:caption>JPMorgan headquarters lobby with network overlay - JPMorgan's $1.5 Trillion Plan and the Financial-Industrial State</image:caption><image:title>JP Morgan w Overlay 600x350</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/Trump%20H1B%20w%20Overlay%20600x350.webp</image:loc><image:caption>International tech workers waiting at an airport - Trump's $100k H1B visa: big tech wins, startups lose</image:caption><image:title>Trump H1B w Overlay 600x350</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/NWP%20logos/nextwave-logo-white.png</image:loc><image:caption>Next Wave Partners company logo</image:caption><image:title>nextwave-logo-white</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/Rethinking%20Startup%20Fundraising%20in%202026%20600x350.webp</image:loc><image:caption>Rethinking Startup Fundraising in 2026 - Next Wave Partners industry report</image:caption><image:title>Rethinking Startup Fundraising in 2026 600x350</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Imported_Blog_Media/64db038e0c2ede08137acca2_Shenanigans.png</image:loc><image:caption>Chart showing investor equity dilution from 30% to near zero over 9 years through pre-seed, seed, and later funding 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600x350</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/JP%20Morgan%20w%20Overlay%20600x350.webp</image:loc><image:caption>JPMorgan headquarters lobby with network overlay - JPMorgan's $1.5 Trillion Plan and the Financial-Industrial State</image:caption><image:title>JP Morgan w Overlay 600x350</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/gdp_shock_600x350.webp</image:loc><image:caption>US Capitol building satire illustration - GDP Shock: Venture Capital's government bailout begins</image:caption><image:title>gdp_shock_600x350</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/2025_annual_letter_600x350.webp</image:loc><image:caption>Next Wave Partners 2025 Annual Letter - unicorn cake being cut with a knife</image:caption><image:title>2025_annual_letter_600x350</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/NWP%20logos/nwp-logo-light.webp</image:loc><image:caption>nwp-logo-light</image:caption><image:title>nwp-logo-light</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/safer_breaking_free_600x350.webp</image:loc><image:caption>Founder celebrating with legal documents - Introducing the Safer, a better alternative to SAFEs for startup financing</image:caption><image:title>safer_breaking_free_600x350</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/NWP%20logos/New%20site%20featured%20image%20(1).png</image:loc><image:caption>Next Wave Partners - Advance the world</image:caption><image:title>New site featured image 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representing intelligent infrastructure investment - The People's Portfolio</image:caption><image:title>intelligent_infrastructure_600x350</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/Hitchhikers%20Guide%20w%20Overlay%20600x350.webp</image:loc><image:caption>Researcher writing equations on a chalkboard - The Hitchhiker's Guide to the Long Arc of AI Innovation</image:caption><image:title>Hitchhikers Guide w Overlay 600x350</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/Trump%20H1B%20w%20Overlay%20600x350.webp</image:loc><image:caption>International tech workers waiting at an airport - Trump's $100k H1B visa: big tech wins, startups lose</image:caption><image:title>Trump H1B w Overlay 600x350</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/safer_accounting_600x350.webp</image:loc><image:caption>CFO reviewing financial data on dual monitors - Safer Accounting Treatment Whitepaper for Startup CFOs</image:caption><image:title>safer_accounting_600x350</image:title></image:image><lastmod>2026-03-24</lastmod></url><url><loc>https://nextwave.partners</loc><image:image><image:loc>https://nextwave.partners/hubfs/Portco%20+%20partner%20logos/carbon-geocapture-logo-80ht.png</image:loc><image:caption>Carbon Geocapture company logo</image:caption><image:title>carbon-geocapture-logo-80ht</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Book%20covers/VCWU-cover-kindle-2%20(1).webp</image:loc><image:caption>Venture Capital Without Unicorns book cover</image:caption><image:title>VCWU-cover-kindle-2 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logo</image:caption><image:title>nextwave-logo-white</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Book%20covers/VC2.0-cover-2%20(1).webp</image:loc><image:caption>Venture Capital 2.0 book cover</image:caption><image:title>VC2.0-cover-2 (1)</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Section%20backgrounds/node_bgd-1.webp</image:loc><image:caption>node_bgd-1</image:caption><image:title>node_bgd-1</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/Robinhood%20w%20Overlay%20600x350.webp</image:loc><image:caption>Robinhood CEO Vlad Tenev presenting market structure diagram - Robinhood unveils plan to break Wall Street's IPO cartel</image:caption><image:title>Robinhood w Overlay 600x350</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Portco%20+%20partner%20logos/genios_white-80ht.png</image:loc><image:caption>Genios company logo</image:caption><image:title>genios_white-80ht</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Portco%20+%20partner%20logos/adaptive_swarm-80ht.png</image:loc><image:caption>Adaptive Swarm company logo</image:caption><image:title>adaptive_swarm-80ht</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Portco%20+%20partner%20logos/surge_80ht.png</image:loc><image:caption>Surge company logo</image:caption><image:title>surge_80ht</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Section%20backgrounds/home_mobile_bgd_gemini_9.webp</image:loc><image:caption>home_mobile_bgd_gemini_9</image:caption><image:title>home_mobile_bgd_gemini_9</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Section%20backgrounds/node_mobile_bgd-1.webp</image:loc><image:caption>node_mobile_bgd-1</image:caption><image:title>node_mobile_bgd-1</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/JP%20Morgan%20w%20Overlay%20600x350.webp</image:loc><image:caption>JPMorgan headquarters lobby with network overlay - JPMorgan's $1.5 Trillion Plan and the Financial-Industrial State</image:caption><image:title>JP Morgan w Overlay 600x350</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Portco%20+%20partner%20logos/tubular_white_80ht2.png</image:loc><image:caption>Tubular Network company logo</image:caption><image:title>tubular_white_80ht2</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/NWP%20logos/New%20site%20featured%20image%20(1).png</image:loc><image:caption>Next Wave Partners - Advance the world</image:caption><image:title>New site featured image (1)</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Section%20backgrounds/home_bgd_gemini-9.webp</image:loc><image:caption>home_bgd_gemini-9</image:caption><image:title>home_bgd_gemini-9</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Portco%20+%20partner%20logos/cronai_80ht.png</image:loc><image:caption>CronAI company logo</image:caption><image:title>cronai_80ht</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/2025_annual_letter_600x350.webp</image:loc><image:caption>Next Wave Partners 2025 Annual Letter - unicorn cake being cut with a knife</image:caption><image:title>2025_annual_letter_600x350</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/Rethinking%20Startup%20Fundraising%20in%202026%20600x350.webp</image:loc><image:caption>Rethinking Startup Fundraising in 2026 - Next Wave Partners industry report</image:caption><image:title>Rethinking Startup Fundraising in 2026 600x350</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/NWP%20logos/logo-blue-png-larg.png</image:loc><image:caption>Next Wave Partners company logo</image:caption><image:title>logo-blue-png-larg</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/Hitchhikers%20Guide%20w%20Overlay%20600x350.webp</image:loc><image:caption>Researcher writing equations on a chalkboard - The Hitchhiker's Guide to the Long Arc of AI Innovation</image:caption><image:title>Hitchhikers Guide w Overlay 600x350</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Featured%20images/NWP%20Venture%20Studio%20Report%20600x350.webp</image:loc><image:caption>Next Wave Venture Studio Report - Revenue-Based Repurchase Mechanism With No Exit Required</image:caption><image:title>NWP Venture Studio Report 600x350</image:title></image:image><lastmod>2026-07-17</lastmod></url><url><loc>https://nextwave.partners/research/2025-annual-letter</loc><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Imported_Blog_Media/Tubular_company_report_600x325.png</image:loc><image:caption>Tubular Network CEO Ben James</image:caption><image:title>Tubular_company_report_600x325</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/Blog%20content%20(parent)/Imported_Blog_Media/image-2-4.png</image:loc><image:caption>Kondratieff long wave technology cycles showing six 56-year adoption waves from Textile in 1771 through the emerging Era of Autonomy beginning in 2025</image:caption><image:title>image-2-4</image:title></image:image><image:image><image:loc>https://nextwave.partners/hubfs/NWP%20logos/nextwave-logo-white.png</image:loc><image:caption>Next Wave Partners company 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