An LBO uses equity + significant debt to acquire a company. Here's the capital structure, return drivers, and why LBO math defines PE returns.

Liquidation preference is the single most important term on a VC term sheet. Here's how 1x non-participating, participating, and multi-preferences change exit payouts.

NYC's accelerator scene includes ERA (NYC's oldest), Techstars NYC, Columbia Startup Lab, NYU Leslie eLab, and Grand Central Tech. Here's what each offers.

The '2 and 20' fee structure defines how VCs get paid. Here's how management fees, preferred returns, hurdles, and carry waterfalls actually work.

NYC's AI agent scene spans finance, legal, health, and customer experience. Here's the 2026 map of NYC-based agent startups and the investors behind them.

NYC-based AI startups raised $23B across 2023 through Q3 2025 — but NYC's AI share is 7.5%, not 60% like SF. Here's why NYC wins applied AI despite the gap.