Private companies have more ways than ever to create value before an exit. Nvidia is paying $6 billion for Poolside’s model factory without buying the company, XPeng just carved out its robotics arm at a $6.3 billion valuation, and Anthropic could make its IPO plans public within days. Meanwhile, Lovable doubled its valuation in eight months and Blank Street is putting fresh capital to work out west.
Different deals, same signal: the private-market playbook is getting more flexible.
Coming up at Goodfin: a founders-first QSBS session with CapGains, then a members-only evening in NYC on September 3. Let’s get into it.
TL;DR
→ QSBS Virtual Event for Founders & Startups —A dive into the tax benefit for founders, employees, and early conviction holders
→ End of Summer Gathering in NYC—A wellness inspired event to get you in the spirit.
→ In the Rearview—Goodfin talks sophisticated wealth management for next gen family offices.
→ From Goodfin AI—Nvidia, Anthropic, and Lovable. Signals worth watching this week.
→ Member Poll—Which part of infrastructure strategy gives you the most investor conviction?
ON THE CALENDAR
QSBS for Founders & Startups
September 3rd | 11 AM PT | Virtual
Goodfin is teaming up with CapGains for a founders-first session on the most powerful — and most overlooked — tax benefit in startup equity: QSBS. We'll break down how Section 1202 can exclude up to $15M (or more) in capital gains from federal taxes, how to lock in eligibility from day one, and how to extend the benefit to your team and earliest backers. Built for founders who are building now.
End of Summer Gathering: Sisley Paris
September 3 | 5 PM ET | New York City
Sisley Paris is opening the doors of its maison to Goodfin members for an evening of relaxation and connection. Enjoy drinks, appetizers, mini treatments, and good conversation before the long weekend. You deserve it. Limited capacity. Open to all members. Attendees must have a Goodfin account.
IN THE REARVIEW
Goodfin at Opal Family Office & Private Wealth Summit
At the Opal Family Office & Private Wealth Summit in the Hamptons, Goodfin CEO Anna Joo Fee joined a panel on two forces reshaping wealth: AI and the rise of next-gen investors.
Anna shared a key thesis: AI is reducing costs and unbundling certain aspects of the family office. She also discussed the family office tech stack of the future—where AI becomes an intelligence layer across research, investing, portfolio management, and operations—making sophisticated wealth management more scalable and accessible.
FROM GOODFIN’S AI AGENT
The signal that matters surfaced for you. Here's what our AI pulled from the noise this week:
1. Nvidia pays $6B to license Poolside's model factory — and takes a stake. Nvidia is paying $6 billion to license the software Poolside used to build AI models, offering jobs to 109 of its staff, and investing $1 billion more at a $12 billion pre-money valuation. The license is non-exclusive and covers Model Factory, the system behind Poolside's Laguna family of open-weight coding models; the $6 billion goes to Poolside's investors by the end of 2027. The investor letter is blunt that this is "not an acquisition and it is not an acquihire" — the three founders stay, and the company keeps operating. It mirrors the roughly $20 billion Groq deal, and lawmakers have criticized this structure as a way around antitrust review. Poolside's letter explains why it stopped: it had a six-week window to raise $2 billion for a 40,000-GB300 cluster, missed it, and lost the cluster. Nvidia bought the factory, not the product. Read More
2.XPeng spins out its robotics arm at a $6.3B valuation after a record $900M raise. The Chinese EV maker is carving its robotics business into controlled subsidiary Dogotix, which secured roughly $900M in funding commitments at an implied post-money valuation of about $6.3B. IDG Capital led the external financing, with Gaorong Ventures, Tencent and Alibaba among the investors; XPeng is expected to retain roughly 82% ownership before potential additional investments and dilution. The capital will fund R&D, manufacturing and commercialization of general-purpose robots, including XPeng’s IRON humanoid, which is slated for mass production by year-end. The structure also gives robotics its own valuation and financing channel while keeping it consolidated under XPeng. Investors have redemption rights if Dogotix fails to complete a qualified IPO within seven years — putting a long-dated liquidity clock on one of China’s biggest private robotics bets. Read More
3. Anthropic's public IPO prospectus could land within days. Reports on Aug 22 say Anthropic is preparing to file publicly as soon as the end of August, following its confidential S-1 and a $965B Series H valuation. Forecasters re-ran their models on Aug 20 and now put the listing around late October at roughly $1.82T, with OpenAI pushed to mid-2027 — and 88% odds Anthropic goes first. Whoever prices first sets the multiple everyone else gets measured against. Read More
4. Lovable raises $400M at $13.3B — doubling in eight months. Menlo Ventures led the round, with EQT's Scaleup Europe Fund co-leading. Tencent, Balderton and several new investors from Europe, Latin America and Asia joined, along with existing backers Accel, CapitalG and Salesforce Ventures. Lovable lets people build working software by describing what they want in plain English, instead of writing code. Revenue has nearly tripled from $200M a year to about $600M by the end of this month. Nvidia, Adidas, Hearst and Zendesk are now paying customers, and the company is growing to around 450 staff. Revenue grew faster than the valuation, which means investors are paying less per dollar of sales than they did in December. Read More
MEMBER POLL
Anthropic’s $9.1B deal with Riot secures 191 MW of capacity for the next 20 years. Which part of its infrastructure strategy gives you the most investor conviction?
Vote and you're automatically entered to win exclusive Goodfin merch. We'll randomly select voters and send you something special.
We asked in Vol #20: Private markets investors back category winners early. What do you tell your friends who are looking to invest in private markets where the real edge lies?
Decisive: 100% picked the same answer — Go where the crowd isn't. Not paying up for the proven. Not backing the operator.
The read: Category winners look inevitable in hindsight — but by the time everyone agrees, the return's already been priced in. This community isn't waiting for consensus. It's building conviction ahead of it.
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