VELESInsights
Five mini features — companion pieces to “Where Capital Goes Next.” Figures sourced and current as of August 2026. Nothing here is investment advice or a recommendation of any security or strategy.
The PIPE Market — Q3 2026
An outline of PIPE issuance activity, structure trends and investor participation, from the 2025 doubling to the large-cap structured wave of 2026.
Biotechnology Financing Activity
How clinical-stage issuers are financing: registered directs, PIPEs, royalty deals and a reopened IPO window.
The Growth of Active ETFs
Structural shift from mutual funds to actively managed ETFs, and what it means for distribution.
Private Capital Formation
Where private capital is being formed, and how issuers reach the right investors across an expanding menu of instruments.
Five Charts From the Markets
A recurring chart series — five numbers worth drawing, published with full source attribution.