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For the fifth consecutive year, CRETI · Center for Real Estate Technology & Innovation is proud to partner with Blueprint: The Future of Real Estate for one of the real estate technology industry’s most important gatherings. This year, CRETI will also host a private CEO Multifamily Roundtable, bringing together a select group of multifamily leaders for a candid discussion on technology adoption, operational performance, AI, automation, and the decisions shaping the future of the industry. The conversation will be intentionally highly curated and focused on what is actually working across multifamily portfolios—not theory, product pitches, or broad predictions. Early-bird pricing ends this week, and members of the CRETI community can save $300 on registration. Register here: blueprintvegas.com/creti We look forward to seeing you at Blueprint.

A few weeks after SuperReturn International in Berlin, one theme continues to stand out to me: liquidity is increasingly becoming a structural consideration for private markets. Across many of the conversations I had, the message was consistent. With exit timelines extending and distributions remaining under pressure, managers are exploring a broader range of liquidity solutions, including continuation funds, GP-led secondaries, NAV financing and evergreen structures. What struck me most is how quickly these solutions have moved from specialist strategies to an established part of the private markets toolkit. As fund structures become more sophisticated, operational readiness becomes even more important. Investors expect transparency, timely reporting and access to reliable data, while managers need operating models that can support increasing complexity. My key takeaway from Berlin: success will not only depend on accessing liquidity, but on executing these strategies effectively. Thank you to everyone who took the time to share their perspectives. The conversations were, as always, the most valuable part of the event. #SuperReturn #PrivateMarkets #PrivateEquity #Secondaries #FundOperations #womeninfinance #oneiqeq #SuperReturn2026 #AssetManagement #InstitutionalInvestors #WomenInFinance #IQEQ #Berlin

🤯 $700M at a roughly $7B valuation, for a company that only started scanning people in Stockholm two and a half years ago. That's Neko Health's Series C this week — led by Lightspeed and O.G. Venture Partners, with Mark Zuckerberg, Priscilla Chan, Thierry Henry and will.i.am writing personal cheques alongside them. Eighteen months ago, the same investors valued it at $1.8B. It now has over 100,000 members and says it's profitable at the clinic level, which you don't hear often from a company still building out physical locations. I remember their grand opening in London — sadly still haven't been but it's a must-have now! The part I keep coming back to: this is a Stockholm company, built by Spotify's Daniel Ek, that didn't need to move to San Francisco to raise like this. Worth sitting with if you're building health tech anywhere in this region, Warsaw included. The open question is the medicine. Full-body scans at £299 a go are already drawing pushback from doctors over overdiagnosis and false-positive cascades — this kind of imaging is good at finding things, not necessarily the things that actually kill most people.

This has been one of the most exciting weeks in Float's history. We are pleased to announce that we raised a €4.5 million Series A led by CHAPTERS Group AG, continuing our mission to provide liquidity to the European tech sector. Over the past three years, Float has funded more than 130 companies and allocated over €100 million in capital to European tech SMEs. This investment, and our strategic partnership with CHAPTERS Group, helps us keep giving founders across the continent the funding they need, without relinquishing control of their businesses. We are incredibly proud of the team that has built this company. We have always focused on consistent growth: a profitable business built with a lean team and disciplined use of capital. Now, we are looking towards our next phase of growth, expanding the team and developing Float into an AI-powered platform that lets founders manage their finances with greater speed and efficiency. Welcome to CHAPTERS Group, and to Jan-Hendrik Mohr, who joins our board for the next stage of the journey as we take on the European funding gap together. I've dropped the links to both Tech EU and Breakit in the comments below! Johannes Karlsson Tamara Djurickovic

It's Friday. On Fridays, we pontificate — broader trends, things learned this week. I am sitting in the same coworking space. Still not the US. And I've been thinking about the mid-market PE sponsors who bought RIA aggregators between 2019 and 2023. The market treats private equity as the winner of wealth management consolidation. The named sponsors at the top of the market are (probably) still transacting at premium multiples. The mid-market ones have a math problem. Let's say a sponsor buys an RIA aggregator in 2021 at 13x EBITDA. The model assumes 8-12% organic AUM growth, bolt-on tuck-ins at 6-8x rolling into a platform trading at 14-16x, and an exit at 16-18x in year 5. Something like that…which is generally a 20+ IRR. I spent years in PE driving value inside deals shaped like that. The model works when three things hold: organic growth shows up, the multiple arbitrage on tuck-ins stays wide (or is ignored completely), and the exit market pays up & out. None of the three is holding. Organic growth hasn't shown up. Most acquired firms run net-new AUM growth in the low single digits, well below the underwriting. New client acquisition hasn't shown up either. The tuck-in-to-platform arbitrage has narrowed to a spread that no longer covers the cost of capital. And the exit multiple sits at a median of 11.6x through 2025, with cash-at-close down from 80% to 55-65% and the rest deferred into rollover equity and earnouts. Advisor Growth Strategies' 2026 Deal Room Report calls this "the vanishing middle" — the same firms these sponsors bought. They overpaid at 13-15x expecting multiples to expand to 17-18x. Multiples didn't expand. Organic growth didn't show up. New clients didn't show up. A lot of 2019-2023 vintages are quietly underwater. The fix is operator work — expanding wallet share with the clients these platforms already own. Trust, tax, insurance, lending, private markets, concentrated-position strategy. Every service line that lifts revenue per household without needing to win a new logo. Who else thinks this way? Evan Schnidman? What do you think? Matt Goward, CFP®Steven Dorval, CFA

Most European #familyoffices entered #venturecapital expecting 6–8 year returns. They are now sitting on 10–12 year lock-ups and portfolios marked down 35–40% from 2021 peak valuations. The #VC experiment has been painful for many of them. Here is why. Only 30% of European family office VC allocations are currently beating benchmark. The write-off rate across their portfolios sits at 25–30% of positions. These are not outlier numbers — they reflect a structural mismatch between how VC works and what family offices were sold. The six core struggles we see consistently: 1. The #illiquidity trap: exits that were modelled at 6–8 years are now stretching to a decade or more, tying up capital that was needed elsewhere 2. The 2021 vintage hangover: family offices that deployed heavily at peak valuations are now underwater with limited options to recover cost basis 3. Unexpected follow-on pressure: 60% have faced capital calls they did not budget for, forcing them to either dilute or walk away from positions 4. #Dealflow access: 45% cannot get into the top-tier funds that actually generate returns — without prior VC relationships, you land in the middle of the distribution 5. In-house capability gap: 55% lack dedicated VC due diligence expertise, meaning they are making decisions they are not equipped to make 6. The J-curve reality: years of negative returns before any value creation, which is psychologically and structurally difficult for family wealth management The path forward is not to exit VC. It is to restructure the approach: co-invest directly alongside top-tier VCs to avoid fee drag, target seed stage where entry valuations are more rational, and cap single fund exposure at 2–3% of total portfolio. At Valley Date Tech, we work with family offices navigating exactly this transition — from passive LP positions to active, structured seed-stage deal flow. Has your family office adjusted its VC strategy in the past 18 months?

📰 Funding Announcement: Read MetaProp VP Jackson Feder break down Uniti’s system of action for property operations and the critical suite of tools Francesco, Emre, and the team are building for an underserved corner of the built world. https://lnkd.in/e5c4p2pA

Althra is writing $50k cheques for 10 exceptional, early-stage founders across Canada for Cohort 3 (Sept-Dec 2026). Althra isn't just a community, they drive tangible founder velocity. To date, Althra has facilitated 47+ direct investor introductions to help teams secure early capital, engineered customer conversations that converted into contracts, and successfully unlocked YC admissions. The leverage is the room founders walk into: The Network: Founders will be in rooms with founders who've built venture-scaled companies like Loopio, Quandri, Hiive and more (collectively raised more than $625M+). Ask them how they got their first customers, raised their first round, and hired their first team. The SF Trip: Spend five days in the valley. Not as a tourist, but as a founder. Through Althra's partnership with Cansbridge, founders get exclusive access to investors, operators, and companies that are normally behind closed doors. The Hub: 4 months of 24/7, in-person workspace in downtown Vancouver. A high-agency environment where moving slow is not an option. If founders read this and feel like this is what's missing for them, applications for Althra Cohort 3 are officially open. Apply Now: https://althra.ca

Excited to share that as of Friday, July 17, 2026, Aura and Qoria are now a combined global business, trading on the ASX under the ticker symbol AXQ. One of the reasons why I joined this company was the impact that this combined business will have on creating a safer, healthier online world for families across the globe. Today that vision gets real scale behind it: a global base of Qustodio parent accounts alongside roughly 32,000 school customers, and a pro forma combined ARR of over US$300M for the year ended December 31, 2025. But the numbers are just the mechanism. What excites me most is what they enable — reaching more families, in more places, with tools that actually help kids build healthier relationships with technology. Grateful to every teammate, partner, and family who trusted us to get here. This is just the start of what we're building together for the many years to come. #AXQ #OnlineSafety #DigitalWellbeing