Edition #14: 37 New Funds, 1000 Fund Managers Mapped, DPI Benchmark. The latest (June, 2026) edition of our monthly newsletter is live – a curated snapshot of the news and insights emerging managers and LPs should actually pay attention to. 5 most interesting stories from this edition: ◾ @benchmark's $2B raise and whether it signals the end of stage-based investing ◾ 2019–2020 vintage LPs are still waiting for their first dollar back (DPI benchmark data) ◾ @Firmcap's map of 1,000 emerging managers running $97B in AUM ◾ @coatuemgmt's "Power Law Paradox": centacorns are 4x more likely to 10x than smaller unicorns ◾ @BoostVC Fund Alpha-I: how @AdamDraper and @BraytonKey delivered 2.15x and 4.35x DPI backing crypto and "sci-fi" founders before anyone else would 👉 Follow @murphcapital and join 3,000+ fund managers and LPs for exclusive monthly VC insights: murphcapital.substack.com/p/…