In 1987, when Bain Capital was ≈3 years old, the early partners came up with the briefest possible mantra for running the firm: make money, have fun, live with integrity. Excited that BCV has another $1.6B to do that. @kevinzhang , @ChristinaPhili5 , and I wrote a bit about those principles and the role that capital should play in a technological revolution:

Was reading the WSJ article on Canada's strengthening relationship with the EU and dug into the GDP/capita data Remarkable... - EU is where the US was in 2010 - Canada is where the US was in 2014, flat/down over past four years Significant divergence

For the first time today, I was on the other side of receiving redlines from a @crosbylegal customer. The redlines were clear, sensible, and had succint comments attached for each change. A lovely experience as a counterparty.

We just crossed $500B in assets under management tracked on Standard Metrics (@metrics_co)! Behind that number: over 150 firms trusting us with their portfolio management, and more than 10,000 portfolio companies trusting us as a key investor relations partner. A growing share of those companies report to multiple investors on the platform. In other words, $500B is a marker of our network effects in action. As our network grows, portfolio management gets better for investors, reporting gets faster and easier for portfolio companies, and AUM managed on platform grows alongside it. It’s been a fun last few weeks, but we’re even more excited about what’s to come. Just getting started!

Last week, we announced that Standard Metrics raised a $20M Series B led by 8VC. I first met the team at 8VC back in early 2020 when I was still an investor, and we had immediate vision alignment around how software would transform the private markets in the decade to come. The team at 8VC had experienced similar challenges around portfolio management as I had at Spark, and they built their own internal system. That system ended up turning into a company called Quaestor, which we renamed to Standard Metrics in 2022. We grew that idea into a real platform, closed our Series A, and kept building. Then two years ago, AI made a bet obvious to us that wasn't obvious to everyone: portfolio management needed an AI-native rebuild. So that's what we did. Last week, that bet got a lot more fuel behind it. We've grown 20X since our Series A, and we now support over 10,000 portfolio companies and 150 firms managing more than $400B in AUM on our platform. I'm incredibly grateful to our amazing team that has worked hard through market booms and busts to take us to where we are today. I'll share a link to our blog post in the comments. Please reach out if this resonates with you, or if you want to talk about how the private markets will continue to evolve with AI in the years to come. @metrics_co @8vc @JTLonsdale

Last week, we announced that Standard Metrics raised a $20M Series B led by 8VC. I first met the team at 8VC back in early 2020 when I was still an investor, and we had immediate vision alignment around how software would transform the private markets in the decade to come. The team at 8VC had experienced similar challenges around portfolio management as I had at Spark, and they built their own internal system. That system ended up turning into a company called Quaestor, which we renamed to Standard Metrics in 2022. We grew that idea into a real platform, closed our Series A, and kept building. Then two years ago, AI made a bet obvious to us that wasn't obvious to everyone: portfolio management needed an AI-native rebuild. So that's what we did. Last week, that bet got a lot more fuel behind it. We've grown 20X since our Series A, and we now support over 10,000 portfolio companies and 150 firms managing more than $400B in AUM on our platform. I'm incredibly grateful to our amazing team that has worked hard through market booms and busts to take us to where we are today. I'll share a link to our blog post in the comments. Please reach out if this resonates with you, or if you want to talk about how the private markets will continue to evolve with AI in the years to come. @metrics_co @8vc @JTLonsdale

A few months ago, when I posted that I was looking for something new, @jmelaskyriazi reached out to me completely out of the blue. We had a great conversation. He was incredibly generous with his time, gave me thoughtful advice, and genuinely tried to help when there was absolutely nothing in it for him. Fast forward a few months and completely unknown to John, his team at @metrics_co reached out about sponsoring Value Add VC. They paid for the sponsorship/ad on the site, but they did NOT pay for this post. I just wanted to go above and beyond because John did the same for me. I really like what he and the team are building at Standard Metrics, and more importantly, I appreciate people who are willing to help someone simply because they can. And literally while writing this tweet saw they just raised $20M Series B led by @8vc which they deserve and wish he told me about then :)

🦄 Delighted to announce @EmeraldAI_'s $150 million Series A round, valuing us at more than $1 billion with over $220 million raised to date! Read more in The New York Times: 📢Read our full announcement: 📺Watch our launch on CNBC Squawk Box: 🔗And dive deeper at our website: ⚡Emerald AI is transforming AI data centers into flexible grid allies to unlock 100+GW of power for AI while protecting energy affordability and reliability for local communities. After 18 months of demonstrations—across five data centers all over the world—we've entered our commercial scaling phase and are now deployed at multi-MW, full data center scale with customers spanning the world's biggest AI pioneers, global data center platforms, and leading power utilities. We're proud to collaborate with @NVIDIA, @Digitalrealty, @EPRINews, and others to launch the world's first power-flexible AI Factory—roughly 100MW in Manassas, Virginia—later this year, creating the blueprint for a new generation of flexible DSX AI infrastructure that will be good citizens to power grids and local communities. We're also honored to partner with @SantaClaraPower on the nation's first Flexible Load Interconnection Program (FLIP) to provide additional power capacity to flexible AI data centers. 🤝We are so grateful to our incredible consortium of investors, co-led by @EnergizeCapital and @DCVC, as well as to the extraordinary syndicate of leading global financial and strategic investors. Emerald now counts 12 Fortune 500 Global companies as our investors. Many thanks to Series A investors including @NVIDIA, @SamsungVentures, @aramcoventures, @Siemens, @SalesforceVC, @GEVernova, @RWE_AG, @jeraventures, @ADI_News Ventures, @SabanciHolding, In-Q-Tel, @radicalvcfund, @EnergyImpact_, @lowercarbon, Marunouchi Innovation Partners, @EmCollective, @johndoerr, The Olayan Group, The Temerty Group, @EarthshotVC, @collectiveGBL, General Catalyst's scout fund, and others. 🚀This funding will be instrumental as we rapidly scale commercially across the United States and around the world. Our vision is simple: secure larger and faster power connections for AI while making sure AI gives back to the communities that host it. At Emerald AI, we believe that the biggest new user of electricity—AI data centers—can also be the grid's greatest ally, and a boon for local communities by protecting energy affordability and reliability. Thank you to all of our customers, partners, investors, and our incredible team (grateful to the leadership team pictured below Ayse Coskun Mansi Shah Aroon Vijaykar Shayan Sengupta as well as to the whole fantastic team)—this has already been the journey of a lifetime, and we're just getting started

Standard Metrics (@metrics_co) has raised a $20M Series B led by 8VC (@8vc) to accelerate innovation in the private markets! Trillions of dollars of economic activity in the private markets still run on spreadsheets, email threads, and PDFs. This critical ecosystem remains surprisingly analog and inefficient despite financing many of the world’s most innovative companies. This problem matters. A better-functioning innovation economy would lead to new big technological breakthroughs, life-saving medicines, jobs, and game-changing new products. AI expands both the urgency and the scope of this opportunity. New AI models have fundamentally changed how data can be organized, analyzed, and acted upon, and they are beginning to drive rapid software adoption in an industry that has historically lagged behind. We believe AI-native infrastructure will reshape the private markets over the coming decade. Two years ago, we bet our company on the idea of building the AI-native portfolio management platform for venture capital and private equity. That was the single most consequential decision in our history: it led us to create the first MCP server in our space, launch an AI-driven document processing service, and build cutting-edge agentic reporting and analytics tools. Today, we’re proud to support more than 150 investment firms who collectively manage over $400B, along with more than 10,000 of their portfolio companies. 30% of the Forbes Midas List are customers of Standard Metrics. But we’ve still only scratched the surface: we work with roughly 1% of active global VC/PE firms. We’ve raised roughly $50M to date. Most of that capital has come from our customers. Investors in this round alongside 8VC include Salesforce Ventures, Spark Capital, January Capital, First Trust Capital Partners, Socii Capital, Kindergarten Ventures, Calm Ventures, Gaingels, and more. It’s been an honor to partner with some of the world’s most forward-thinking investors on this journey. Thank you so much to our team, customers, investors, and supporters. We’re just getting started!