{"podcast":{"title":"Equity","slug":"equity-55848","podcast_index_feed_id":55848,"rss_url":"https://feeds.megaphone.fm/YFL6537156961","website_url":"https://techcrunch.com/","image_url":"https://megaphone.imgix.net/podcasts/7f647576-b0d4-11ef-ad77-1356cd002e92/image/c517eaa8f9b86d18ff98a18dec7a5178.jpg?ixlib=rails-4.3.1&max-w=3000&max-h=3000&fit=crop&auto=format,compress","author":"TechCrunch","episode_count":774,"summary":"The intersection of technology, startups, and venture capital touches everything now. That’s why Equity, TechCrunch's flagship podcast, digs into the business of startups for entrepreneurs and enthusiasts alike. Every Wednesday and Friday, TechCrunch reporters keep you up-to-date on the world of business, technology, and venture capital. Equity is ranked the No.2 podcast in the Top 100 Venture Capital All time leaderboard on Goodpods—As well as No.17 for the Top 100 Finance All time chart and No.32 for the Top 100 Business News All time chart.","last_synced_at":"2026-07-18T04:19:04.251830+00:00","page_url":"https://stenobird.com/podcast/equity-55848"},"episode":{"title":"Why private wealth is cutting out the VC middleman","slug":"why-private-wealth-is-cutting-out-the-vc-middleman","published_at":"2026-04-01T17:50:00+00:00","page_url":"https://stenobird.com/podcast/equity-55848/why-private-wealth-is-cutting-out-the-vc-middleman","show_page_url":"https://stenobird.com/podcast/equity-55848","url":"https://traffic.megaphone.fm/TCML6828949075.mp3?updated=1775062676","audio_url":"https://traffic.megaphone.fm/TCML6828949075.mp3?updated=1775062676","summary":"The VC middleman is getting cut out faster than anyone expected. Family offices and private wealth firms are going direct: writing checks, taking board seats, even incubating companies from scratch. And more founders are starting to notice. In February alone, family offices made 41 direct investments, including one Midwest-based firm that led a $230 million Series B into an AI chip startup. On this episode of TechCrunch's Equity podcast, Rebecca Bellan caught up with Mitch Stein and Ari Schottenstein, founder and head of alternatives at ARENA Private Wealth, to find out what this shift means for founders, cap tables, and the future of AI investment. Listen to the full episode to hear: How Arena landed the lead on Positron's $230 million Series B, and why the CEO specifically wanted them on his cap table How Arena does due diligence on technical companies What \"tourist capital\" actually looks like, and the red flags founders should watch for as family offices flood into AI deals Why some VCs are quietly unhappy about this trend (and why Arena thinks that's their problem) Subscribe to Equity on YouTube, Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Chapters: 00:00 Intro 03:13 Why family offices are going direct now 06:03 The gen 2 & gen 3 family office shift 07:22 Is this strategic or just AI FOMO? 10:17 How Arena got into the Positron deal 14:30 Why founders want private wealth on their cap table 18:31 Due diligence on technical companies 21:56 Red flags founders should watch for 25:04 Are VCs threatened by this trend? 27:47 Taking board seats & level of involvement 34:17 Outro Learn more about your ad choices. Visit megaphone.fm/adchoices","meta_description":"The VC middleman is getting cut out faster than anyone expected. Family offices and private wealth firms are going direct: writing checks, taking board se…","key_points":[],"chapters":[],"topics":[],"duration_seconds":1917,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/equity-55848/episodes/why-private-wealth-is-cutting-out-the-vc-middleman/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/equity-55848/why-private-wealth-is-cutting-out-the-vc-middleman.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}