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![endowment_eddie Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1860093000673824768.png) Endowment Eddie [@endowment_eddie](/creator/twitter/endowment_eddie) on x 4315 followers
Created: 2025-07-13 17:48:13 UTC

If VC is competitive now, the ‘what if everything goes right’ scenario on liquidity will send it to the stratosphere.

$140B of market cap from this year’s IPO ($CRWV, $CIRC, $HNGE, etc.) YTD. $160B annualized M&A. 

Now add Figma and Navan—another $30B of market cap. What if Bytedance and the cohort of $400M+ ARR payroll/payment/expense mgmt platforms go public? What about OpenAI, Anduril etc.?

We’re talking up to $1TRN or more of active market cap and M&A in the next 12-18mos.

Assume VCs own 2/3 of all this and it gets distributed over 3yrs.

We’d runrate at $200-250B of LP distributions annually. This would dwarf the ‘20-21 peak.


XXXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1944453828029382676/c:line.svg)

**Related Topics**
[market cap](/topic/market-cap)
[open ai](/topic/open-ai)
[$400m](/topic/$400m)
[bytedance](/topic/bytedance)
[$30b](/topic/$30b)
[$160b](/topic/$160b)
[$circ](/topic/$circ)
[ipo](/topic/ipo)

[Post Link](https://x.com/endowment_eddie/status/1944453828029382676)

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endowment_eddie Avatar Endowment Eddie @endowment_eddie on x 4315 followers Created: 2025-07-13 17:48:13 UTC

If VC is competitive now, the ‘what if everything goes right’ scenario on liquidity will send it to the stratosphere.

$140B of market cap from this year’s IPO ($CRWV, $CIRC, $HNGE, etc.) YTD. $160B annualized M&A.

Now add Figma and Navan—another $30B of market cap. What if Bytedance and the cohort of $400M+ ARR payroll/payment/expense mgmt platforms go public? What about OpenAI, Anduril etc.?

We’re talking up to $1TRN or more of active market cap and M&A in the next 12-18mos.

Assume VCs own 2/3 of all this and it gets distributed over 3yrs.

We’d runrate at $200-250B of LP distributions annually. This would dwarf the ‘20-21 peak.

XXXXXX engagements

Engagements Line Chart

Related Topics market cap open ai $400m bytedance $30b $160b $circ ipo

Post Link

post/tweet::1944453828029382676
/post/tweet::1944453828029382676