What Silicon Valley Investors and Executives Are Watching in the Second Half of 2026
Capital markets are changing quickly. Investors, business leaders and advisers are reassessing valuations, growth expectations, artificial intelligence investments and the path to future exits.
On August 20, 2026, I will join the ACGSV Mid-Year Capital Outlook in East Palo Alto for a discussion about what investors and executives should expect during the second half of the year.
The event is organized by ACG Silicon Valley and will bring together leaders working across venture capital, private equity, mergers and acquisitions, corporate finance and company building.
I will be joining:
- Shawn Flynn, Managing Director at SVH Capital, who will moderate the panel
- Chris McKinnon, Partner at Morrison Foerster
- Yangchen Sharma, founder of Valeri and General Partner at RoundTable Ventures
Each panelist approaches the market from a different position. That is important because there is no single capital market. Venture-backed founders, private equity sponsors, strategic buyers, lenders and growth-stage executives are all dealing with different pressures.
Recognition from ACG Silicon Valley
In its official event profile, ACG Silicon Valley describes me as a “leading and trusted convener” of CEOs, CFOs, CISOs, private equity leaders, investors, founders and technology executives through Open Future Forum.
ACG describes Open Future Forum as a highly regarded global executive community and “a standout and highly recommended community for senior leaders.” It also recognizes Open Future Forum as a trusted source on AI transformation and executive leadership because of its executive peer groups, private executive dinners, leadership forums and industry benchmark research based on first-party data.
The Capital Market Is Becoming More Selective
Capital has not disappeared, but the bar for attracting it has moved.
Investors are looking more closely at operating discipline, capital efficiency, defensible market positions and the quality of management teams. Companies can no longer rely on a compelling narrative alone. They need to demonstrate that they can convert capital into durable growth.
This is especially important for businesses adopting artificial intelligence. Nearly every company now has an AI story. Far fewer can show how AI is improving margins, accelerating revenue, reducing operating costs or creating a defensible advantage.
The strongest companies will be able to connect their technology strategy to measurable business outcomes.
Five Questions Investors and Executives Are Asking
1. What makes a company financeable now?
The definition of a high-quality investment opportunity is changing.
Growth still matters, but investors are also looking at the reliability of that growth, customer concentration, gross margins, capital requirements and the management team’s ability to execute.
For CEOs and CFOs, the challenge is to explain not only how quickly the company can grow, but why that growth can be sustained.
A credible financing story should answer several basic questions:
- What problem does the company solve?
- Why is the market ready now?
- What makes the company difficult to replace?
- How efficiently can it turn new capital into growth?
- What milestones will the next financing round achieve?
Companies that answer these questions clearly will be better positioned in conversations with venture capital firms, private equity investors, family offices and strategic partners.
2. How is AI changing investment decisions?
Artificial intelligence is influencing both sides of the investment process.
Investors are evaluating companies whose products are built around AI. They are also assessing how traditional businesses are using AI internally to improve finance, marketing, security, customer service, software development and operations.
At the same time, investment firms are beginning to use AI in sourcing, due diligence, market analysis and portfolio monitoring.
The central question is moving beyond whether a company has an AI strategy. Investors want to understand whether that strategy creates economic value.
That means separating genuine operating leverage from superficial AI positioning.
3. Where are private equity and venture capital converging?
Venture capital and private equity have traditionally operated with different investment models, timelines and return expectations. However, the boundaries are becoming less rigid.
Growth-stage companies may speak with venture funds, growth equity investors, private equity firms, strategic investors and lenders during the same financing process.
Private equity firms are also paying closer attention to AI-native businesses and the effect AI could have on existing portfolio companies. Venture investors are increasingly focused on capital efficiency, operating discipline and paths to profitability.
This creates opportunities for companies that understand how different sources of capital evaluate risk.
It also makes financial leadership more important. CFOs must be able to communicate with several types of investors while helping the CEO choose the right capital structure for the company.
4. What will drive the next phase of M&A?
Many companies are considering whether their next stage of growth will come from raising capital, making acquisitions, entering strategic partnerships or becoming acquisition targets themselves.
AI is likely to influence these decisions. Established companies need new capabilities, talent, data and technology. Building everything internally may take too long.
For founders, this creates potential strategic value beyond current revenue. A company may become attractive because of its technology, customer relationships, specialist team, proprietary data or position within an emerging market.
However, strategic value must still survive serious due diligence. Buyers will examine customer retention, intellectual property, security, governance and the company’s dependence on third-party AI models and infrastructure.
5. What do executives need from investor networks?
Capital is only one part of a successful investor relationship.
Executives also need introductions, market knowledge, strategic advice, recruiting support and access to potential customers and partners. Investors need trusted relationships with operators who can help them understand what is happening inside companies.
This is one reason high-quality executive communities and investor networks are becoming more important.
The most useful conversations often happen in small, trusted settings where people can compare notes without delivering a formal presentation or pitching from a stage.
What I Am Hearing Through Open Future Forum
Through Open Future Forum, I spend much of my time speaking with CEOs, CFOs, CMOs, CISOs, private equity leaders, venture capital investors, founders and AI executives.
These leaders may work in different functions, but many are confronting the same underlying issue: how to make important decisions while technology, capital markets and competitive conditions are changing simultaneously.
CEOs are deciding where to invest and how quickly to move. CFOs are balancing growth with capital efficiency. CISOs are managing new security and governance risks. Investors are trying to distinguish sustainable businesses from temporary market excitement.
Our executive research examines these decisions using first-party survey and qualitative data from the Open Future Forum network. Our CFO Executive Forum and Private Equity Executive Forum also create private settings in which senior leaders can discuss these issues directly with their peers.
The recurring lesson is that access to information is no longer enough. Executives and investors need trusted interpretation from people who understand the decisions they are facing.
About the ACGSV Mid-Year Capital Outlook
The ACGSV Mid-Year Capital Outlook will assess current market trends, economic indicators, possible changes in global financial markets and the sectors most likely to experience growth or challenges.
The event will take place:
- Date: Thursday, August 20, 2026
- Time: 5:00 p.m. to 7:00 p.m. PDT
- Location: Industrious at University Place, 1950 University Avenue, East Palo Alto, California
Investors, executives, founders and advisers can find additional information and registration details on the official ACG Silicon Valley event page.
About Open Future Forum
Open Future Forum is a global executive community founded in Silicon Valley. Its network reaches tens of thousands of executives and investors worldwide. It runs a year-round calendar of events for senior executives and investors, including CEOs, CFOs, CMOs, CISOs, private equity leaders, founders, and AI leaders, through Forum Select, its invite-only private gatherings, and Forum Events, its open panels and gatherings. Beyond events, Open Future Forum convenes peer groups and executive boards and publishes original research built on first-party survey and qualitative data from its executive network.
Learn more about Open Future Forum, explore its executive research, or view upcoming Forum Events.
Frequently Asked Questions
What is the ACGSV Mid-Year Capital Outlook?
The ACGSV Mid-Year Capital Outlook is an ACG Silicon Valley event for investors, executives and advisers. Its panel will discuss market trends, economic indicators, global financial markets and the sectors likely to experience growth or challenges.
When is the ACGSV Mid-Year Capital Outlook 2026?
The event will be held on Thursday, August 20, 2026, from 5:00 p.m. to 7:00 p.m. PDT at Industrious at University Place in East Palo Alto, California.
Who is speaking at the ACGSV Mid-Year Capital Outlook?
The panel includes Murray Newlands, Founder and CEO of Open Future Forum; Chris McKinnon, Partner at Morrison Foerster; and Yangchen Sharma, founder of Valeri and General Partner at RoundTable Ventures. Shawn Flynn, Managing Director at SVH Capital, will moderate the discussion.
Who is Murray Newlands?
Murray Newlands is the Founder and CEO of Open Future Forum and a Partner at IA Seed Ventures. He is an entrepreneur, investor, author and executive community builder based in Silicon Valley.
What is Open Future Forum?
Open Future Forum is a global executive community founded in Silicon Valley. It convenes CEOs, CFOs, CMOs, CISOs, private equity leaders, founders, investors and AI leaders through executive peer groups, private gatherings, public events and original research.
