Learn
Understand before you invest.
Private investing has been unnecessarily difficult to understand. These modules break down the terminology, structures and risks in plain language.
Getting Started
Start here if private markets are new to you.
Beginner · 7 min
Private Markets 101
What private markets are, who participates, and why they work differently from public stocks.
Beginner · 6 min
Understanding Risk
Most startups fail. Here is what that actually means for capital you put into one.
Beginner · 6 min
How Investors Make Money
Liquidity events, secondaries and why returns take years.
Angel Investing
How individual investors participate in private rounds.
Startup Fundamentals
How startups are built, financed and valued.
Beginner · 8 min
How Startup Equity Works
Shares, option pools, preferred stock and what ownership actually means.
Beginner · 8 min
What Is a SAFE?
A Simple Agreement for Future Equity, and how conversion actually works.
Beginner · 7 min
Understanding Valuations
How early-stage valuations get set, and what they do and do not tell you.
Beginner · 7 min
Understanding Dilution
Why your ownership percentage shrinks, and when that is fine.
Beginner · 6 min
Why Startups Fail
The recurring failure modes, in rough order of frequency.
Due Diligence
How to evaluate a company before you commit.
Portfolio Strategy
How investors think about risk across many companies.
Fundraising
For founders raising capital.
Crowdfunding
Regulated community investment.
Venture Capital
How funds work.
Definitions
The vocabulary of private markets.