Founders Capital Q3 Update

Hi all,

As we move into the final stretch of the year, Q3 stands out as a period of real momentum and meaningful progress - not only across the broader private markets but also within the Founders Capital community.

Below is a distilled version of our member update, highlighting the key themes and developments shaping the market, our platform, and portfolio this quarter.

Private Markets: Q3 Highlights

Key themes emerging from recent market data:

• Capital concentration via megadeals
  Roughly a third of all Q3 funding went to just 18 companies, with the top three - Anthropic, xAI, and Mistral - raising over $20B. VC capital is consolidating into fewer, high-conviction bets.
   

• AI and foundation models dominate
  AI drew 46% of all VC dollars, with Anthropic alone capturing nearly a third of that. Large-model startups have become the clear epicenter of venture activity.
   

• Late-stage surges, early-stage steady
  Late-stage rounds hit $58B (up 66% YoY), while early and seed funding grew only slightly. Investors continue to favor scale over experimentation.

   

• IPOs drive exit rebound
  Sixteen $1B-plus IPOs worth $90B marked a sharp liquidity uptick. While M&A slowed, public listings are re-opening the exit window for VCs.

What We’re Watching in Q4

• AI infrastructure remains the magnet
  VC flow will stay concentrated in AI infrastructure and foundation models, with capital chasing compute, data, and model efficiency plays.
   

• Mid-stage squeeze
  Mid-stage startups could face a more selective funding environment as capital continues to favour later-stage deals.
   

• Liquidity shifts
  A successful Q4 IPO or M&A could shift pricing across key names. We’re watching closely.

Q3 Investment Highlights

We continue to deepen our edge across sourcing, structuring, and connecting our members with exceptional opportunities in the private markets:

This quarter, we secured allocations into some of the most competitive and in-demand late-stage companies on the market, reinforcing our position alongside leading global investors. Across the early stage portfolio performance remains strong, with several companies scaling rapidly as we continue to back exceptional founders - from Y Combinator’s latest cohort to Europe’s next breakout teams.

Building the Founders Capital Ecosystem

Platform & Brand
We’ve rolled out new investor platform features and quietly refreshed the Founders Capital brand across digital channels - with further upgrades in the pipeline for Q4.

Community
FC Summit II (Croatia) brought together 60+ of our top founders and investors for six unforgettable days. It’s now a fixture in our calendar.

Team
We’ve grown the team:

• Anton Alvarez joined as Analyst (deal execution, diligence)

• Charlotte Valledy joined as Content Marketing Exec (comms, campaigns, investor updates)

Early Stage Portfolio Highlights

• Eloquent: Founders Capital participated in Eloquent AI’s $7.4M seed round, closed in just three days and 12× oversubscribed.
   

• Innerworks: Founders Capital participated in Innerworks’ $4M seed round, alongside AlbionVC, Digital Currency Group, and other leading investors.
   

• YASO: Founders Capital participated in YASO’s £8.26M Series A, led by Puma Growth Partners. Founded by Jonny Plein, James Campbell, and Adam Knight, YASO has delivered six consecutive quarters of growth since launch.

Final Word

At Founders Capital, our mission has always been to open up the private markets - to make them more transparent, more founder-driven, and more accessible to those who want to be part of building the next generation of world-changing companies. Every quarter, that vision comes further to life as we expand access, uncover exceptional opportunities, and bring together a community of investors and operators who believe in the same future.

As we look ahead to Q4, momentum across both the platform and the portfolio has never been stronger.

If you share our belief that the future of investing lies in access, alignment, and action, apply to join Founders Capital today and be part of what’s next in the private markets.

Best regards,
Richard & The FC Team

Founders Capital is the trading name of FC Group Holding Ltd. FC Group Holding Ltd is an Appointed Representative of 8point8 Capital Ltd which is authorised and regulated by the Financial Conduct Authority (reg. no. 936586). 

This communication is being sent confidentially on a restricted basis for information and discussion purposes only. It does not constitute a financial promotion and should not be relied upon as investment advice. Membership of Founders Capital is restricted to recipients who are eligible to receive exempt financial promotions under the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005.