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The startups you'll wish you'd known about earlier
Clay hit $3.1B, Modal reached $1B, Aerodome sold for $300M. All were in last year's Future 50.
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“Some of the best content in the world on VC, in-depth research and analysis. Grazie!” — Michele, a paying member
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Friends,
A few weeks ago, we released the 2025 Future 50—our annual database of the world’s highest-potential startups valued under $200 million. If you missed it, here are the details: Over 200 elite venture practitioners nominated companies with the highest upside, and we spent five months researching each one. We distilled the results into detailed profiles with exclusive traction data you won’t find anywhere else.
Last year’s cohort has already begun raising at significantly higher valuations. Several companies we featured have since crossed our $200 million threshold, validating our early detection system:
Clay, the AI database, shot up to $3.1 billion, thanks to a recent round from CapitalG.
Modal was recently reported to be negotiating a $1 billion valuation, a rapid rise for the AI infrastructure startup.
Smart ring maker, Ultrahuman, reportedly grew revenue 5.4x YoY and reached profitability for the first time.
Polymarket became the dominant prediction market platform, reportedly hitting a $1 billion valuation, processing billions during the US presidential election last year.
Privy, a crypto/fintech infrastructure platform, continued to scale rapidly before a major acquisition by Stripe.
Flock Safety acquired drone maker Aerodome for $300 million just a few months after our list was published.
Early awareness of just one breakthrough company often justifies years of research investment.
With that track record in mind, this year’s selection process was even more rigorous. The 2025 Future 50 companies reveal fascinating patterns: AI’s penetration across traditional industries, the emergence of “governance as a service,” and the rise of companies achieving remarkable traction with surprisingly lean teams. You’ll find a Colombian ISP rebuilding internet infrastructure, a Greek defense startup creating autonomous warfare systems, and a Venezuelan fintech that’s captured 45% of the adult population.
Each company profile includes our three-point rationale for selection, exclusive metrics from founders, and clear explanations of what they’re building and why it matters. The database is searchable by geography, sector, and team size.
Access remains exclusive to members of our premium newsletter, Generalist+. For those working in venture capital, technology, or investing, the annual subscription ($220) typically pays for itself with a single valuable connection or insight.
Join today and unlock the full database immediately.
Best,
Mario
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The Future 50
Meet 50 of the world’s highest-potential startups. Nominated by investors, selected by The Generalist.
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To unlock the full list, you can join as a premium subscriber here. To read more about the Future 50 before subscribing, you can check out our announcement post here.
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