Goodfin Wire - Vol. 05

Three weeks left in 2025.

Markets tested conviction. Portfolios got stress-tested. Some calls landed early. Others are still playing out. Through it all, this community kept moving, sourcing deals, sharing signal, building alongside each other.

We're not winding down. New partnerships are coming. Features are shipping. And there's still time to close the year on your terms.

Let's keep going 🚀

→ Goodfin at NYSE: Anna Joo Fee on agentic AI under the hood
→ Kalshi raises $1B at $11B valuation, doubles in under two months
→ SpaceX eyes $800B valuation in secondary share sale, 2026 IPO on the horizon
→ Secondaries market deep-dive: Experts break down how smart money navigates
→ Coffee Chats are clicking: one match went from virtual intro to Art Basel meetup

Secondaries hit $30B this year. While traditional exits stay locked, capital keeps finding a way through.

Tomorrow, we're bringing together three experts who see this market from different angles, pricing infrastructure, deal execution, and legal structuring, to unpack what's actually happening beneath the surface.

Who's on the panel:

Note: This session is limited to Goodfin members and accredited investors. If you're not yet a member, you can request access here and we will send you the Zoom link.

Tiles, strategy, and good company beneath the soaring ceilings of Saint Joseph's Arts Society.

Beginner-friendly tables with guided instruction. Seasoned players—let us know and we'll check Open Play availability. Beer and wine at the bar. Limited spots.

Free for Goodfin Premium & Reserve members. Other members pay $35 or upgrade your membership for access.

The year's almost over. Before it ends, let's talk.

Edition 1 sparked conversations we're still thinking about. This time we're going deeper: the 2 A.M. idea you can't shake, what you hope looks different in ten years, and the book or podcast that rewired how you see things.

No decks. No pitches. Just 45 minutes with people who think long-term.

Coffee Chats are doing exactly what we hoped—sparking real connections.

Two members matched through our 1:1 program hit it off immediately. What started as a virtual intro turned into plans to meet up at Art Basel Miami last week. That's the power of putting the right people in the same room—even when it starts on a screen.

If you haven't signed up yet, your next connection is waiting.

→ Join Coffee Chats

Anna Joo Fee, Goodfin’s Founder & CEO, joined the Modern Investor Summit to discuss AI, alternatives, and portfolio construction.

The highlights: AI has unlocked what previously required a human—onboarding, due diligence, research. A report that took a team a week can now be generated in five minutes. And on allocation? Think of your portfolio like a meal. Main course is your liquid, traditional investments. Sides and dessert are your alts—added after you've got your core set. AI can help you think through those questions, but diversification doesn't mean adding only startups. It means considering other asset types based on your actual needs.

Live from the trading floor, J.D. Durkin from Cheddar caught up with Anna to talk agentic AI and what it actually looks like under the hood.

Goodfin runs on an agentic orchestration layer—not vibe-coded in a weekend. A supervisor agent assesses intent. Specialized agents pull from databases. The deep research agent? Actually a dozen agents working in parallel: sourcing data, running projections, drafting, fact-checking. Analysis that took analysts weeks now takes minutes. "We have human employees," Anna said, "and dozens of agentic employees mimicking non-deterministic human workflows."

Goodfin was built AI-first for a reason. While others bolt on chatbots, we're building infrastructure that puts institutional-grade tools in your hands—faster, smarter, without the friction.

Invest without switching screens. Ask questions, get personalized estimates, and complete your investment—all in one conversation.

Your research, saved. Deep research reports now live in a personal library. No regenerating. No digging through chat history.

Sacra MCP, built in. Ask about private companies and the AI Concierge taps Sacra for company profiles and news—institutional-grade intelligence, right in the conversation.

Smarter responses. Google's latest Gemini model powers better reasoning across every conversation, alongside multiple other powerful underlying models we leverage, such as Claude and GPT.

Less clicking. More signal. The platform keeps getting smarter.

We're thrilled to introduce our newest Guild Partner, Subha Rajana! A deep-tech investor, serial entrepreneur, and long-time advocate for women’s financial empowerment, Subha is someone who embodies everything The Guild stands for.

His edge? Knowing where the real moats get built. Early in any AI wave, value flows to infrastructure—cloud providers, model APIs. But Bot looks for the second phase: companies embedding into workflows and building proprietary data from user interactions. "The companies that survive aren't the ones with the best models. They're the ones with the deepest integration. Does using the product generate data that makes it better over time? That’s the real moat."

When evaluating AI companies, he makes the black box transparent. Can they work with small datasets, not just Google-scale data? Can they push accuracy from 90% to 99%—and then to production reliability? Can they explain why the model made a decision? And the trend he's most skeptical of? The AGI race. "I'd rather bet on teams solving specific, painful problems in clever ways. Ironically, those are the ones most likely to stumble onto the breakthroughs that matter."

We're curating the minds shaping the moment. If that's you, or someone in your circle, let's talk.

The signal that matters surfaced for you. Here's what our AI pulled from the noise this week:

→ SpaceX eyes $800B valuation in secondary share sale. Double from $400B earlier this year. It would surpass OpenAI as America's most valuable private company. 2026 IPO now on the table. Read more

→ Kalshi raises $1B at $11B valuation. Doubled its value in under two months. Paradigm led, with Sequoia, a16z, and Capital G joining. Prediction markets are no longer fringe. Read more

→ Cristiano Ronaldo invests in Perplexity AI. The $20B AI search startup lands one of the world's most recognizable athletes as both investor and global sponsor. Read more

→ Prediction markets are going mainstream. Kalshi and Polymarket processed nearly $10B combined in November. A dozen new startups are building tools for hedge funds and brokerages. The UK is next. Read more

→ Glean earns AWS Agentic AI Specialization. First partner recognized for deploying production-ready autonomous AI systems that reason, plan, and execute complex workflows. Read more

→ Kalshi goes onchain with tokenized predictions on Solana. Partnering with Jupiter and DFlow, Kalshi now taps billions in on-chain liquidity. $2M+ in builder grants now open. Read more

We got more signal waiting for you inside Goodfin. Sign in to the platform and never miss a beat.

Vote and you're automatically entered to win exclusive Goodfin merch. We'll randomly select voters and send you something special.

We asked: If your best investment decision this year wasn't a stock, what was it?

66.67% voted "Bet on myself"—new ventures, career moves, skills. One-third went to preserving capital. The takeaway? This community isn't sitting on the sidelines.

Until next time,

Sharath Kuruganty
Founding Community Lead
Goodfin

P.S. – Have feedback on Goodfin Wire? Hit reply. I read everything.

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