Three themes shaping our 2026+ investment framework: tokenisation, AI-enabled productivity and the changing value of liquidity.
The long-term case for tokenisation is not that every asset needs a token. It is that certain markets may benefit from programmable ownership, faster settlement, better transferability and more integrated compliance. The opportunity is therefore as much about market architecture as asset issuance.
As models improve, value can migrate toward data, energy, compute, workflow redesign and businesses that convert lower knowledge-work costs into better unit economics. We look beyond model headlines to the physical and organisational systems required to deploy AI at scale.
In volatile capital markets, liquidity can create bargaining power. Investors with flexible capital can underwrite businesses and assets when conventional financing is constrained—provided downside structure and duration are understood clearly.