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Allie Garfinkle, also bylined Alexandra Garfinkle, is a journalist at Fortune who writes the Term Sheet newsletter on venture capital and startup finance.
Oura has postponed an IPO that valued it at up to $15.6 billion, with existing holders selling 73% of the shares on offer. To pay that price, public buyers had to see an AI health platform in a company whose sales still lean on a ring.
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PitchBook counts fundraising by climate-specialist venture firms down nearly 40% in 2025 from 2024. On stage at Climate Week NYC, Dawn Lippert and Mike Schroepfer described energy and critical-minerals rounds filling up with generalist money.
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Sam Altman told Fortune that a listing now would be ill-advised while safety and alignment work is unfinished. More than $180 billion has gone into OpenAI, on Fortune's count, with no scheduled exit.
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Vaughn Crowe has been underwriting manufacturing since 2020 and closed an $80 million second fund last year. The deals list on the same Fortune page totalled $545 million, and $395 million of that went to AI data-center work.
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PitchBook counts a third of US private-equity portfolio companies held five years or more, and about $860bn of net asset value stuck in funds past seven. The delay is the cost.
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PitchBook puts a third of US PE-backed companies past the five-year mark. The harder part for LPs is where the value sits: in funds old enough that the cash was already meant to be coming back.
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The complaint against The Spaventa Group is not really about fake stock. It is about undisclosed spread, which makes it a problem for anyone sourcing AI-era private allocations.
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