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Venture Capital is Changing
Bruce Hamilton
April 21, 2025
Venture capital isn’t what it used to be. The gates are opening, the players are changing, and the next generation of investors looks nothing like the last. This week, we’re diving into how the VC landscape is shifting, from closed-door deals to culture-led capital, and why this moment matters for the builders and backers shaping what’s next.
This week in pop culture & business
Figma files for IPO
Figma has confidentially filed for an IPO, just a year after its $20 billion acquisition deal with Adobe fell through due to regulatory pushback in the UK. Adobe paid Figma a $1B termination fee. The design platform, widely used by tech teams for collaborative product development, is now aiming to go public on its own terms. The move signals strong investor confidence in Figma’s standalone growth potential and marks one of the most anticipated tech IPOs of the year.
Canva has generated $3B in revenue
Canva has revealed it brought in over $3 billion in annualized revenue, positioning itself as one of the most profitable design platforms globally. With more than 170 million users across 190 countries, the company continues to expand its footprint in both consumer and enterprise markets. As Figma prepares for a potential IPO, Canva’s impressive financials highlight the growing demand for accessible, collaborative design tools in the modern workplace.
SZA launches beauty line, Not Beauty
SZA has officially announced the launch of her own makeup brand, cementing her presence in the beauty world. The Grammy-winning artist revealed the news via Instagram, sharing a preview of sleek packaging and a message about embracing individuality and self-expression. While full product details haven’t been released yet, fans are already buzzing about the line’s potential to blend SZA’s signature aesthetic with inclusive, skin-first beauty.
Ryan Coogler’s Sinners takes the box office crown
Sinners, the new horror-thriller from director Ryan Coogler and starring Michael B. Jordan, is off to a strong start at the domestic box office with a $48 million opening weekend. The film’s success is being fueled by glowing reviews, word-of-mouth buzz, and its timely themes. As Coogler and Jordan’s latest collaboration, Sinners is proving that original genre films can still pack theaters and deliver both critical and commercial impact.
Venture Capital is Changing
For decades, venture capital operated behind closed doors. A game played by insiders, built on private deals, gated access, and the same few people making the same types of bets. But now, the system is cracking open. New voices are entering the conversation. Different kinds of founders are getting backed. And the idea of who gets to participate, as an investor and as a builder, is finally starting to shift.
Venture capital is changing. And it is about time
From Gatekeepers to Community
Traditionally, VC has been built around exclusivity. A small circle of institutions, family offices, and high-net-worth individuals controlled who got funded and who didn’t.
But over the last few years, we’ve seen something different emerge.
• Rolling funds and syndicates made it easier for emerging managers to start writing checks
• AngelList and crowdfunding platforms opened up access to early-stage investing
• Online communities and creator-led capital started building deal flow on Twitter, Discord, and group chat. Not in boardrooms
In short, capital is no longer just about money. It is about community, culture, and belief.
The Rise of Culture-Led Capital
The next wave of venture is being shaped by people who don’t fit the traditional mold. Artists. Creators. Operators. Brand builders. Athletes. People who know how to move culture and now want to back what comes next.
This shift is especially visible at the earliest stages, where vibe, instinct, and storytelling matter as much as spreadsheets.
The new era of VC looks less like Wall Street and more like the internet. It is bold, culturally fluent, and fluent in group chat capital.
Because when capital comes with taste, distribution, and belief, it hits different.
Why This Moment Matters
We are in a time where early-stage capital needs to do more than fund ideas. It needs to understand them.
Understand the culture.
Understand the consumer.
Understand what is about to matter before everyone else sees it.
The next iconic companies will not just be built in labs and pitch decks. They will be built in community, across culture, and with investors who don’t just watch the wave… they create it.
What’s Coming
We’ve been watching this shift closely.
And while we are not quite ready to say more just yet. Let’s just say something new is on the way. It is bold. It is community-first and it is built for the next generation of investors and founders who want to move different.
More soon.
Until then, just know: Venture capital is changing and we are building for what’s next.
Curated Vibes
Song of the week: “Irene (Goodnight Irene)” by Lead Belly
Apple Music
Spotify
Movie of the week: Sinners
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