Plunging tech stocks, crypto collapse, capital raising problems for some players Negative news always overcome positive, but mainly the analysis behind the red-lines headlines. We see the present market as an opportunity: - Many start ups still raise cash (especially earlier-stage); - Many companies have enough cash on BS for one year at least (and some for 4-5 years!); - Many not so earlier-stage ones cancel their IPO plans (positive! public markets are not for ever-burning

⁃ financials was an all-time high ⁃ fundraising was up by ~20% to $1.2 trillion ⁃ private markets AUM hit $10 trillion ⁃ investors sunk over $1 trillion into private markets in 2021 #privatemarkets #industrynews https://www.mckinsey.com/industries/private-equity-and-principal-investors/our-insights/mckinseys-private-markets-annual-review