June '26: The Marks Came Back (TVPI). The Cash Didn't (DPI)

Rickler Feed (@rickler_feed), Jul 2, 2026, 04:45 UTC

June '26: The Marks Came Back (TVPI). The Cash Didn't (DPI) VC valuations and paper gains (TVPI) have strongly recovered, but actual cash distributions to investors (DPI) remain stagnant due to a choked exit market Consequently, funds that proactively engineer liquidity through secondary markets and partial exits will hold a distinct advantage when trying to raise capital from increasingly impatient investors https://benlakoff.substack.com/p/june-26-the-marks-came-back-tvpi

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