Eden Global Partners and The Age of Patient Capital

The breakthroughs that reshape industries are rarely the product of a single quarter. They are built over years, through uncertainty, by founders who need partners with the conviction to stay the course. That is the promise of patient capital, and the founding premise of Eden Global Partners.

Patient capital is not passive. In the right hands, it is the instrument by which the future gets built: deliberately, durably, and on the terms of those doing the building. Founders who can access it gain the freedom to pursue opportunities aligned with their mission rather than their last earnings call. Investors who can deploy it gain exposure to the highest-quality growth available — growth that has migrated, decisively and structurally, from public to private markets.

Eden stands at the intersection of patient capital and transformative companies. And it is the most consequential intersection in capital markets today.

The Great Migration

There has been a fundamental shift in how value gets built, and most investors have not caught up.

Since the 1990s, the number of listed US companies has been cut in half: from 8,000 to fewer than 4,000. The median time to IPO has doubled, from six years to twelve. Meanwhile, an estimated 1,700 private unicorns now exist globally, representing $5.8 trillion in value among US companies alone. Family offices, managing $6.1 trillion in assets and growing, on average, at 7.5% annually, are bypassing intermediaries and writing direct checks into the best private companies. Legislative tailwinds reinforced the shift: the 2012 JOBS Act expanded the shareholder threshold from 500 to 2,000, giving companies the freedom to build substantial capital bases without triggering public reporting obligations.

The result is a parallel universe of extraordinary scale, and extraordinary opacity for those without the right relationships to navigate it.

SpaceX is the defining example. Having raised over $9 billion in private markets since 2002, SpaceX went public in June 2026 at a ~$2 trillion valuation. Their path was far from linear. Early investors had to hold to their conviction, as the first three Falcon 1 launches failed before the fourth reached orbit in 2008. But by 2025 SpaceX delivered more than 80% of the payload mass sent to orbit, nearly 10 times their closest competitor.

The exploded rockets and years without profitability that characterized SpaceX’s early life would have been fatal for a public company. Their success was a function of a visionary founder, an ambitious mission, and the right capital partners for the journey. Staying the course in private markets bought SpaceX the time it needed to build an insurmountable moat in a category defined by long-term ambition. 

The highest-quality businesses have taken notice, and are seeking high-quality partners. The question for investors is whether they are positioned to participate, or whether they will arrive, as most do, after the most significant value creation has already occurred.

Why Public Markets Fail the Best Companies

The IPO is not obsolete. For most companies, public markets remain the final destination: the capital available at scale in the public arena is unmatched. Founder-led businesses within the S&P 500 have delivered roughly 2x the outperformance of the broader index from 2015 to 2024. But timing is everything, and the cost of getting it wrong is severe.

Today’s public shareholder base has become increasingly hostile for young growth companies. Long-only investors with genuine conviction are scarce. What dominates instead is passive index capital, which flows primarily to already-indexed companies and largely bypasses newer entrants, alongside short-duration hedge funds whose strategies are measured in months. Many institutional investors are benchmark optimizers, focused on quarterly beats or misses rather than multi-year value creation. And most venture-backed companies would not even qualify for index inclusion, leaving them exposed to the worst of public markets with few of the benefits.

Rivian made this mistake in spectacular fashion. It debuted in November 2021 at roughly $70 billion on almost no revenue, a genuine technological vision subjected to delivery timelines the business was structurally unready to meet. The market showed no mercy. Peloton followed the same arc: a surge driven by the pandemic masked fundamental weaknesses in unit economics until the collapse made them impossible to ignore.

The companies that got it right share a common trait: they stayed private until they were ready. Reddit spent 19 years iterating before a successful IPO in 2024. Spotify achieved category dominance over a decade in private markets before entering by direct listing. CoreWeave built critical AI infrastructure away from public scrutiny, and debuted to extraordinary demand because the durable competitive position was already visible by the time public investors arrived.

The compounding effect of choosing the right moment, and the right partners, is not marginal. It is the difference between building an institution and being consumed by the market’s appetite for short-term signal.

The Liquidity Gap: A $3 Trillion Opportunity

The migration to private markets has produced a structural inefficiency of enormous scale, and Eden is built to unlock it.

Of the $7.3 trillion in venture-backed businesses globally, an estimated $3 trillion in value remains unrealized, with $1.7 trillion sitting in funds launched in 2019 or earlier. Direct secondaries change hands at a fraction of private market value: approximately 2% of total value annually, compared to public markets, which turn over roughly 68% of their $68.9 trillion US market capitalization each year.

This illiquidity has become a competitive threat. Between 2021 and 2023, Big Tech firms used Stripe’s illiquidity as a recruiting weapon, poaching engineers with the promise of publicly tradeable equity. Stripe responded with a structured tender offer, an early signal of the innovation now emerging in the liquidity solutions market. Anthropic and OpenAI have likewise allowed early employees and investors to sell a combined $14 billion over the last five years.

The lesson is clear. When Meta is willing to write nine-figure compensation packages to secure the world’s best AI engineers, illiquidity is not a neutral condition. It is a vulnerability.

Eden delivers scaled liquidity solutions for companies and existing investors, powered by a global network of capital partners aligned with management’s long-term vision. Our Liquidity Solution is the flagship instrument, purpose-built for a market where the demand for liquidity has far outpaced the supply of intelligent, aligned capital needed to provide it.

What This Means for Founders

The right investor at the right moment is a strategic unlock. The wrong one is a costly distraction. Companies that reach unicorn status raise 6.5 rounds of funding — the quality of judgement at each of these inflection points compounds.

One of the chief advantages of the private market is the ability to choose your own shareholders. Eden helps exceptional founders take full advantage of that freedom, advising on primary and secondary capital-raising with the network and selectivity to ensure that everyone on your cap table is genuinely aligned with where you are going.

Moderna was prepared to meet the moment during the pandemic in part because the investors on its cap table were aligned with its long-term vision, partners who stood ready to support the transformation of a research laboratory into an industrial-scale vaccine manufacturer. This partnership benefited not just a world-class company, but the world at large.

What This Means for Investors

A Morningstar index of the 20 largest late-stage venture-backed companies has delivered approximately 8.5x returns since 2015, compared to roughly 4x from US public markets. The highest growth is happening in private, and waiting for the IPO means arriving after the most significant value has already been created.

Airbnb spent twelve years building category dominance in private markets. The company hosted more than 1 billion stays and experiences before their IPO. By the time public investors arrived, the most consequential growth was already behind them — the stock has been largely flat since its 2020 debut. Tony Xu’s backers bought into the DoorDash flywheel — more consumers, more dashers, more merchants — and fueled their path to category leadership in the US. The model was proven, refined, and scaled, all in private markets.

But the return case for private markets demands more than patience. It demands judgment.

The risk of getting it wrong can be severe. WeWork raised $12.8 billion across 21 rounds over 11 years, sustained by investors seduced by high-velocity growth into overlooking a complete absence of governance discipline. Theranos sustained its fraudulent claims for over a decade behind the shield of private-market confidentiality. The flexibility and long time horizons that make private markets powerful can, in the wrong hands, become cover for deception or simple incompetence.

Power law economics also govern this asset class with unusual force. A small number of companies capture a disproportionate share of returns, and that concentration has accelerated dramatically with AI. The top 10 venture investments now account for 39% of total deal value, up from 6% three years ago.

Within the broader private equity ecosystem, growth has never been more important. 10 years ago investors required 5% annual EBITDA growth to generate a 20% IRR / 2.5x MOIC over a 5-year holding period. Today it’s more than doubled: 12% is the new 5%.

In this environment, access and judgment are precious resources. Eden curates the highest-quality opportunities for our investor network, deploying the relationships and selectivity that decades of transaction experience afford.

Meeting the Moment

Most capital comes with strings. Quarterly pressure. Misaligned time horizons. Investors who need the exit to be visible from day one. The founders building the most consequential companies of the next decade cannot afford those partners. They need capital that is prepared to commit, prepared to wait, and prepared to double down on transformative opportunities when others are losing their nerve.

Capital is not scarce. There is more of it in the world today than at any point in history, chasing a finite number of genuinely exceptional opportunities. What is scarce, extraordinarily scarce, is patient and intelligent capital deployed with conviction by people who have spent decades in the room with the best companies at the moments that matter most.

That is what Eden offers. Not just access to capital, but access to the right capital, on the right terms, from partners who have advised Palantir, Moderna, and Uber through the inflection points that defined them. The judgment that comes from that experience is not something that can be replicated. It is, like all truly scarce things, the result of time.

Time compounds incremental decisions into world-changing revolutions. It is a veil through which no one can see clearly — but those with the courage to peer ahead, and the right partners at their side, will shape what lies beyond it.

Patient capital does just that. And it is what Eden is built to deliver.

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The Prosperity Engine

How military investment built the world you live in —and why patient capital is the most misunderstood force in finance.

BY DAVID DWEK · CEO, EDEN

I have spent my career advising companies that most people thought were too early, too unconventional, or too risky to touch. Uber when it was still a black car app fighting taxi commissions. Moderna when mRNA was a curiosity no pharma major would fund. Palantir when it had no sales team and was largely run by people in jean shorts who could do one thing amazingly well: deliver results.

What I have learned, over and over, is that the biggest returns in history do not come from backing what the market already values. They come from understanding what the market cannot yet see.

And, in my experience, the single clearest guide to what the market cannot yet see is this: follow the military. That sounds counterintuitive in rooms full of people chasing software multiples. But the evidence is overwhelming. GPS, the internet, mRNA, the modern space industry, the foundations of cybersecurity.
Almost every transformative platform technology of the past eighty years traces back to a defenseinvestment made long before any commercial case existed.

The Pentagon does not need a business model. It needs a solution. That difference in incentive structure is worth hundreds of trillions of dollars in retrospect.

I recently had a conversation with Former US Secretary of Defense Lloyd Austin at the Milken Institute that sharpened something I had believed for years but never quite articulated. He made two points that stayed with me. First: those who win space will win the wars. Second: capital is needed at scale, with patience, without demanding immediate return, if we are to maintain military advantage. I would say the same is true in the commercial world. The market is structurally biased toward short horizons. Quarterly results. Fund cycles. LP liquidity. The biggest opportunities do not fit those windows. They never have.

What follows are the cases that prove it. Some I watched from the outside. Several I was in the room for.

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01 | 1983

GPS

A Soviet missile created the technology that guides your Uber

On September 1, 1983, a Soviet Su-15 shot down Korean Air Lines Flight 007 over the Sea of Japan. All 269 people aboard were killed. The aircraft had drifted badly off course, relying on navigation equipment that simply was not good enough.

Two weeks later, Reagan announced that a classified satellite navigation system, developed over a decade to guide nuclear warheads to within meters of their targets, would be opened to the entire world. For free. So that no civilian aircraft would ever drift again.

That system was GPS.

It now enables rideshares, precision agriculture, and the timestamps that underpin financial compliance. None of that was the point when Reagan made the announcement. The point was that 269 people had just died.

That is not a metaphor. It is a precise description of causality, and the first of many such sentences in the history of human progress.

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02 | 1969

The Internet

The first message was two letters, and then it crashed

It was 10:30 pm on October 29, 1969. A 22-year-old UCLA student named Charley Kline typed “L” on a terminal connected to Stanford. It appeared. He typed “O.” It appeared. He typed “G,” and the system crashed.

We sent two letters. That was the first message on the internet.

ARPANET was DARPA’s engineering solution for surviving nuclear war. Its protocols were published openly to meet military objectives, not commercial ones. That single decision, made for strategic reasons with no thought of profit, seeded the entire internet economy.

The Big Bang of the modern economy sounded like a system error.

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03 | 2010S | Personal Account

Uber

The older generation thought it was useless. One refused to leave her BlackBerry.

I was working at Morgan Stanley when I was Uber banker and as such convinced the firm’s management that we should become Uber’s first commercial client. The idea was straightforward: replace the black cars that sat outside our New York headquarters waiting for employees with on-demand rides. No more wasted time, no more guessing when a car would arrive.

The internal resistance was something I will never forget. The older generation thought it was a passing novelty. One colleague was particularly dismissive. She said it was useless, that she was refusing to move from her BlackBerry to a smartphone just so she could get a ride home. That was the barrier. Not the product. Not the economics. A keyboard preference.

That woman was not unusual. She was the market. And the market was wrong.

Within a few years, Uber had restructured urban transportation on every continent. The GPS that Reagan opened in 1983, the smartphone that emerged from decades of miniaturized electronics, the internet that DARPA built to survive nuclear war: Uber was not a technology company. It was the intersection of three military-funded platforms arriving at the same moment.

I financed Uber across multiple rounds and through to their eventual IPO. The bet was never really about replacing taxis. It was about what happens when infrastructure built for one purpose gets repurposed by someone with the patience to wait for the moment.

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04 | 2012-2021 | Personal Account

Moderna

DARPA funded it when no pharma company would. We funded the scale-up.

In 2012, DARPA program manager Dan Wattendorf read a paper on mRNA technology that every major pharmaceutical company had passed on. No existing market. No trial pathway. No commercial justification. DARPA funded it anyway, because DARPA was not looking for a product. It was looking for a way to protect soldiers.

The pharmaceutical industry looked at mRNA and saw no product. DARPA looked at it and saw a soldier.

On January 10, 2020, scientists posted the COVID-19 genome sequence online. Within 48 hours, Moderna’s team had designed a vaccine candidate using the platform DARPA had funded. The design took two days. I have the memory seared in my brain of the phone call from the exceptionally talented CEO, Stephane Bancel, telling me “we have the vaccine.” Remember this was unknown territory, and living in NYC, we had morgues being built in Central Park. It was a frightening time.

Moderna at that point was a research organization. Brilliant science, no manufacturing infrastructure at the scale the world rapidly needed. We helped raise over a billion dollars to finance the scale of production. It was the first real-world proof that mRNA technology worked, and it happened because someone was willing to back it before the market understood what it was.

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05 | | 2004 – Present | Personal Account

Palantir

No salespeople. No steak dinners. Just people in jean shorts solving real problems.

In 2004, a data analytics startup in Palo Alto was short on cash. It was perceived as too niche, too complex, and too early to invest in. Then In-Q-Tel called, the CIA’s venture capital arm, funding the technology the intelligence community needs before markets do.

I worked closely with Palantir as their investment banker and evangelist through their direct listing. What struck me was not the technology, though the technology was extraordinary. What struck me was the culture. This was the first generation of neo-prime contractors, going head-to-head with the traditional primes, old men in Brooks Brothers suits who had spent decades winning government contracts by flying clients to golf courses and buying them steak dinners.

Palantir’s people were in Birkenstocks, jean shorts, and Iron Maiden T-shirts. They were winning because they were in theater, identifying the problem, building the solution on site. They invented the notion of the “forward deployed engineer.”

The product sold itself because it worked, and it worked because the people building it cared more about solving the problem than about closing the contract.

Palantir tracked terrorist financing and insurgent movements. The work contributed to the effort that found Osama bin Laden.

Dr. Karp and his partner, the exceptionally talented Kevin Kawasaki, had a practice I found quietly brilliant. When meeting prospective investors, they would say plainly: Palantir will likely never go public. It was not a disclaimer. It was a filter. The investors who walked away were chasing momentum. The ones who stayed understood something different.

Palantir is now valued at over $300 billion. That is not the point. The point is what it does.

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06 | Ongoing

Israel • Unit 8200

The world’s most selective tech bootcamp does not have a website

Israel spends roughly 5% of GDP on defense, nearly twice the US rate. Conventional wisdom calls this a burden. Yet Israel has more tech startups and NASDAQ listings per capita than any country except the United States, and for a decade, per-capita venture investment has ranked first among nations of comparable size, with no oil, no navigable rivers, and almost consistently being at war with its adversaries.

The explanation fits in two words: Unit 8200.

Israel’s signals intelligence unit sends the country’s top technical minds to solve frontier problems under real operational pressure. They graduate with a network, clearance, and ten years of experience that no MBA program can replicate.

Check Point. CyberArk. Wiz, the fastest-growing enterprise software company in history. Mobileye. Hundreds more across AI, cybersecurity, and medical devices. All Unit 8200 alumni.

The Israeli Defence Force did not set out to build Israel’s tech economy. Its aim was, and continues to be, survival. Military superiority is not a cost. It is a compounding asset, and its dividends appear in forms no balance sheet was designed to measure.

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07 | 2026 | Personal Account

Isar Aerospace

The rocket was invented to kill people. Now it is the bottleneck between humanity and its own future.

The V-2 was called Vergeltungswaffe, Vengeance Weapon. The world’s first ballistic missile, built to destroy London and Antwerp. After the war, von Braun continued his work as a US government contractor. Most of America’s earliest space flights were made on modified V-2s. The weapon that terrorized civilians became the vehicle that took humanity to the moon.

Now those same descendants are the bottleneck between us and survival. Satellites already predict wildfires before the first flame appears, track hurricanes days before landfall, and relay communications when every other infrastructure has failed. The constraint is not satellites. It is getting them to space.

I have worked closely with Isar Aerospace for years. They are building rockets affectionately known as Spectrum, targeting the first orbital launch from European soil by any privately developed vehicle. Europe’s most well-funded launch startup, with over €550 million raised. Their CEO Daniel Metzler says it plainly: “We are building the capability for nations to access and sustain space on their own terms.”

The V-2 was designed to destroy cities. Its descendants are our early warning system for when the planet tries to destroy itself.

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08 | The Not So Distant Future

Nuclear Fusion

Unchaining the shackles of dependence on hydrocarbons

The end of the hydrocarbon world order

Nuclear fusion has the potential to be one of the most transformative technologies in human history and to eliminate the geopolitical risks posed by our dependence on oil and gas. If fusion delivers on its promise, the manipulation by hydrocarbon nations, built over a century, dissolves. The entire world order that has been shaped by who controls oil and gas production resets.

There are fusion companies out there today that are getting closer to making unlimited, commercial, clean energy a reality. Once thought of as a science fiction dream perpetually 30 years down the road, the industry’s leaders are now targeting demonstrations of commercially viable fusion technologies within the next few years. Using Nobel-prize-winning science, advancements have made high field magnets strong enough to transform the tokamak, the world’s most studied and proven fusion architecture, into a potentially commercially viable solution.

Fusion research did not begin in a university lab chasing clean energy. It grew out of military thermonuclear weapons programs in the late 1940s. The physics insights needed to understand how hydrogen isotopes fuse, and how to confine plasma long enough to sustain that reaction, were first worked out by physicists like Edward Teller and Stanislaw Ulam in service of designing the hydrogen bomb. Project Sherwood, launched in 1951, was the direct spinoff — the same scientists, the same institutions, now tasked with asking whether controlled fusion was possible.

NIF at Lawrence Livermore was built and operated by the National Nuclear Security Administration, a weapons science agency, because its primary mission is maintaining the US nuclear stockpile without live testing. In December 2022, it achieved fusion ignition: more energy out than laser energy in. That milestone, celebrated as a breakthrough for clean energy, happened in a weapons laboratory funded by the defense budget. The private fusion sector immediately pointed to it as validation of their own approaches.

Private fusion companies today are not starting from scratch. They and their investors are, in a real sense, the beneficiaries of decades of investments made by these military-led initiatives. For these companies and their backers, this is not a financial thesis built around a 3x return in a few years. This is a bet that the biggest shift in the global energy order since the discovery of oil is going to happen within a decade, and that the people building it deserve patient capital behind them.

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I Have Also Been Wrong

Early in my career, I supported a company called Better Place. Shai Agassi was one of the most compelling founders I had encountered, genuinely visionary, genuinely right about where the world was going on electric vehicles. But the model was broken. Battery-swap infrastructure required car manufacturers, governments, and consumers to all change behavior at the same moment. It collapsed under the weight of its own coordination requirement.

I backed the founder when I should have backed the model. Charisma is not a moat. It was one of my first misses, and I have not forgotten it.

The patient capital thesis only works if you are honest about what you are backing. Vision is necessary. Structure is not optional.

The Pattern

Name a transformative technology from the past seventy years and trace it back. GPS. The internet. mRNA. Space infrastructure. Cybersecurity. Fusion. Almost all of them are rooted in investment made long before commercial viability was imaginable, usually by institutions that answered none of the clocks the market runs on.

The market is structurally brilliant at allocating capital to things it already understands. It is structurally blind to things that require a decade of patience before the first dollar of revenue. That blindness is not a flaw in the market. It is a feature of how incentives work. Fund managers have LPs. LPs have beneficiaries. Investors need a return on a timeline.

The Pentagon has a different mandate. So does a founder who genuinely believes they are changing the world. So does an investor who has learned, through enough cycles, that the biggest returns come from backing what the market cannot yet see and then waiting.

I evangelized mRNA before anyone called it a vaccine platform. I backed engineers in jean shorts before anyone called them the future of defense contracting. The pattern is the same. The market is not wrong about the risk. It is wrong about the timeline.

The package on your doorstep is the result of eighty years of investments made by people who had no idea what they were building. They were just solving the problem in front of them.

That is still how it works.

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DAVID DWEK

CEO, Eden — Twenty-five years at the intersection of innovation and patient capital.

Informed by a conversation with Former US Secretary of Defense LloydAustin at the Milken Institute’s 28th Annual Global Conference.Prosperity Engine

Eden Global Partners advised and invested in Isar Aerospace’s €270M Series D to deliver sovereign space capabilities globally

Press Release | June 9, 2026

Isar Aerospace secures EUR 270m to provide sovereign space capabilities globally

• Funding strengthens Isar Aerospace’s unique serial production approach to deliver orbital launch capacity at scale
• Isar Aerospace expands its global launch network, with next launch site planned in Canada
• Series D is backed by new and existing investors, with substantial contributions from European stakeholders
• Raise comes in the run-up to the company’s qualification flight, with a launch window opening from June 15 to 21

Munich, 09.06.2026 – Isar Aerospace has signed a EUR 270m Series D round to expand operations worldwide and provide sovereign space capabilities for Europe, NATO, and allies. The capital will drive global scaling and ramp up serial production of the Spectrum launch vehicle. Following its first launch pad in Norway, Isar Aerospace now plans to build a new launch site in Canada. Given strong demand from nations globally to deliver an integrated launch system for assured access to space, additional sites worldwide are under negotiation.

The round is backed by new investors Island Green Capital and Molten Ventures with strong participation from existing investors HV Capital, Lakestar, UVC Partners with co-investor KfW Capital, and others, with substantial contributions from European stakeholders – underscoring Europe’s continued strong commitment to the company’s strategic role in providing space sovereignty and technological leadership.

Daniel Metzler, Co-Founder and CEO of Isar Aerospace, said: “Space is no longer a frontier; it is the infrastructure of national power. With this strategic backing, we are expanding access to space for nations worldwide, delivering an orbital launch system at scale for government and commercial customers.”

Clear strategic roadmap

The funding follows a period of concrete progress and advances a clear path forward.

• Ramp-up of Europe’s largest integrated launch vehicle factory: Isar Aerospace’s new production facility in Parsdorf, near Munich, is designed to produce up to 40 Spectrum launch vehicles per year, with a high degree of automation and vertical integration covering design, manufacturing, and testing almost entirely in-house.
• Expanding a multinational launch network: Isar Aerospace is expanding its multinational launch infrastructure to serve a broader range of orbits and customers. A Letter of Intent with Maritime Launch Services adds Spaceport Nova Scotia as a second launch site alongside Andøya, Norway, covering mid- to high-inclination orbits critical for Earth observation and communications.
• Delivering on the trust of partners and governments: Isar Aerospace entered a cooperation with TKMS as part of the Canadian Patrol Submarine Project, embedding sovereign launch capability inside a NATO bilateral defense procurement framework. The company’s launch manifest is extending well through 2028, including missions for ESA, NOSA, ElevationSpace, Astroscale, and other global customers.

Isar Aerospace primed to close critical sovereignty gap for Europe, NATO and its allies

Europe conducted fewer than 10 orbital launches in 2025. The United States conducted more than 190. SPARTA 2.0, published May 2026, names sovereign European access to space as one central capability gap that Europe needs to address on the path to autonomous capacity to act. Sovereign access to space has become a defining requirement for European defense autonomy – and Isar Aerospace is the only private European company building the capacity required to make sovereignty for Europe and its global allies operational. This shift is reflected in Isar Aerospace’s demand: within the past 12 months, it has moved from almost entirely civil demand to 60% defense demand.

Upcoming Qualification Flight

Isar Aerospace is preparing to launch its qualification flight, Mission ‘Onward and Upward’, carrying five CubeSats and one experiment for ESA’s Boost! Programme. The launch window will open from June 15 to 21, from the company’s dedicated launch complex at Andøya Space, subject to weather, safety, and range availability.

About Isar Aerospace

The European space company Isar Aerospace offers launch services for transporting small and medium-sized satellites and satellite constellations into orbit. The launch vehicles used to transport these satellites are developed, manufactured, and tested almost entirely in-house. Headquartered near Munich, Germany, Isar Aerospace was founded in 2018 and has grown to over 400 employees, working across 5 international locations. Private funding from international investors provides strong backing for the company’s pioneering approach to scale and industrialize launch vehicle production through vertical integration. More information: www.isaraerospace.com

Eden Global Capital Partners was Isar Aerospace’s Exclusive Financial Advisor on this financing. More information: www.edengp.com

Press contact Isar Aerospace
Franziska Kegelpress@isaraerospace.com

Honored to host an extraordinary conversation with the former U.S. Secretary of Defense, Lloyd Austin at The Milken Institute’s Global Conference

Event | May 5, 2026

Former U.S. Secretary of Defense Lloyd Austin, now CEO of Clarion Strategies, and one of the most consequential figures in modern American defense and foreign policy, joined David Dwek for a candid discussion on global risk, the evolving geopolitical landscape, and the implications of recent events in Iran for the future of the defense economy.

Co-hosted by Eden Global Partners and Eldridge Industries during the Milken Institute’s 28th Annual Global Conference, the evening served as a powerful reminder that context, trusted relationships, and long-term thinking remain essential to navigating an increasingly complex world.

Secretary Austin brought a rare depth of perspective and strategic clarity to our discussion. As I reflect on the exchange, three themes stand out as particularly relevant for investors and leaders navigating today’s environment:

Space as Critical Infrastructure

Secretary Austin was unequivocal on the strategic importance of space – not as a frontier, but as foundation. Communications, navigation, intelligence, and the coordination of virtually every modern military and civilian system now depends on space-based infrastructure. As competition in this domain intensifies, protecting and expanding that infrastructure is no longer a long-term consideration – it is an immediate national security imperative with significant implications for both defense policy and private investment.

Private Capital as a Structural Requirement

The next generation of defense capability will not be built by government alone. Secretary Austin was clear that the United States needs both its traditional prime contractors, the established industrial base that underwrites large-scale production and systems integration and the new wave of innovative defense technology companies developing autonomous systems, cyber platforms, and space infrastructure. But neither can reach their potential without sustained, patient private capital. These are complex, long-horizon ventures poorly served by short-term investors. In this environment, private capital has become a structural requirement – not a complement to government funding, but a necessity.

Conviction Under Uncertainty

Secretary Austin spoke with clarity on the nature of leadership in a world of permanent uncertainty, a clarity that comes only from having navigated genuine, high-stakes crises with incomplete information. Uncertainty, he made plain, is not a condition to be resolved, it is the condition. The question is never whether it can be eliminated, but whether the leadership, institutional capacity, and conviction exist to act through it. What separates consequential leaders is not access to better information, but the discipline to sustain a course when the path is least clear. For investors and institutions alike, that posture is as applicable to managing capital as it is to managing through crisis.

Grateful to Clarion Strategies and to everyone who joined us for an exceptional evening.

Eden Global Partners Welcomes Laurence Goldberg as President

Press Release | October 22, 2025

Former Global Head of TMT at Barclays & Head of Software at Onex Partners to support firm’s operations, business development initiatives and strategic growth

NEW YORK – October 22, 2025 – Eden Global Partners (“Eden Global”), a merchant bank that specializes in providing long-term capital solutions, today announced that Laurence Goldberg, former Global Head of Technology, Media & Telecom at Barclays Investment Bank, has joined the firm as President. Based in the firm’s New York headquarters, Mr. Goldberg will leverage his more than three decades of advisory and investing experience to enhance Eden’s operations and business development strategy and support the firm’s long-term growth.

“I am thrilled to welcome Laurence to our Firm,” said David Dwek, Chief Executive Officer of Eden Global Partners. “He brings an exceptionally rare combination of advisory and investing expertise, alongside a proven ability to lead organizations at scale. His insights and network will be invaluable as we advance our strategy, deepen our client relationships, and continue building Eden as the partner of choice for visionary entrepreneurs.”

Mr. Goldberg joins Eden Global following a successful career spanning more than 25 years in investment banking and nearly 8 years of private equity investing. He most recently served as Managing Director at Onex Partners, a private equity firm, where he was responsible for sourcing, structuring and executing strategic investments in the software sector. Previously, Mr. Goldberg served as the Global Head of TMT at Barclays for nine years, where he oversaw a team of nearly 200 executives and advised on numerous high-profile mergers, acquisitions, leveraged buyouts and IPOs. Before Barclays, Mr. Goldberg was the Head of Technology investment banking at Lehman Brothers and a Managing Director in the technology group at Credit Suisse First Boston. Over the course of his career, Goldberg has partnered with some of the most important technology businesses of this generation.

“I’m delighted to join Eden Global, a unique franchise with the ability to invest, advise and leverage a global network of family offices and other long-term capital providers,” said Mr. Goldberg. “With companies choosing to stay private for longer, Eden’s differentiating factor of providing innovative capital solutions both from our balance sheet and partners, alongside best-in-class advisory services, is in strong demand among the highest quality companies. I am excited about the opportunity to work with David and our talented team to grow Eden and advance our strategic objective of partnering with entrepreneurs and building lasting value.”

Mr. Goldberg holds a Bachelor of Science in Economics from The Wharton School at the University of Pennsylvania.

About Eden Global Partners

Based in New York City, Eden Global Partners is a merchant bank dedicated to empowering visionary entrepreneurs shaping a better future. Focusing on permanent capital, we offer a unique blend of advisory services and principal investments, providing business leaders with patient, long-term financial support to tackle pressing challenges. Leveraging decades of transaction experience at leading investment banks and enterprises, our team delivers strategic financial guidance, an extensive network of capital partners, and utilizes our own balance sheet to help companies scale, innovate, and create sustainable value for all stakeholders. Discover more at Eden Global Partners or connect with us on LinkedIn.

Media Contacts:
Deven Anand / Mallory Griffin
H/Advisors Abernathy
212-317-5999
deven.anand@h-advisors.global / mallory.griffin@h-advisors.global

Isar Aerospace signs agreement with Eldridge Industries for EUR 150m financing | Eden Global Partners Advised Isar

Press Release | June 25, 2025

Isar Aerospace obtains financial commitment by Eldridge Industries  

• Proceeds will be used to expand launch capabilities and series production facilities near Munich, Germany 
• Investment supports Isar Aerospace in securing European access to space  

Munich, 25 June 2025 – Satellite launch service company Isar Aerospace today announced that it has signed an agreement with Eldridge Industries for a convertible bond of EUR 150m. The company has obtained all necessary regulatory approval for implementing the agreement. The investment will enable Isar Aerospace to expand its flexible and cost-efficient launch service offerings for its global clientele, while simultaneously strengthening sovereign European access to space.  

Daniel Metzler, CEO and Co-Founder of Isar Aerospace said: “We are catering to the rising global demand for satellite launch services and provide global markets and governments with independent and flexible access to space. This investment demonstrates strong confidence from global markets in our efforts to build a new space champion.” 

About Isar Aerospace 

 The European space company Isar Aerospace develops, builds and operates launch vehicles for transporting small and medium-sized satellites as well as satellite constellations into Earth’s orbit, with the mission of opening space for future generations. Headquartered near Munich, Germany, Isar Aerospace was founded in 2018 and has grown to over 400 employees from more than 50 nations, working across 5 international locations. Private funding from international investors provides strong backing for the company’s pioneering approach to scale and industrialize launch vehicle production through vertical integration. More information: www.isaraerospace.com 

Press contact Isar Aerospace 
Franziska Kegel 
press@isaraerospace.com 

About Eldridge Industries  

Eldridge Industries invests in businesses across the Insurance, Asset Management, Technology, Mobility, Sports & Gaming, Media & Music, Real Estate, and Consumer landscapes. The firm seeks to build and grow businesses led by proven management teams that have demonstrated leadership and experience to scale an enterprise. Headquartered in Miami, FL, Eldridge Industries has offices across the United States and in London. To learn more about Eldridge Industries, please visit eldridgeind.com.  

Press contact Eldridge Industries  
Abby Rex-Groves 
Arexgroves@prosek.com  

Openly Announces $193M in Growth Financing Led by Eden Global Partners, Allianz X

Press Release | January 30, 2025

Amid sustained growth, Openly sets its eyes on continued innovation in the homeowners insurance space

BOSTON, MA / ACCESS Newswire / January 30, 2025 / Openly, the premium homeowners insurance provider, today announced a $193 million growth financing round led by Eden Global Partners, a merchant bank that specializes in providing long-term capital solutions, and Allianz X, the strategic growth investments arm of Allianz. The round includes participation from existing investors such as Advance Venture Partners, Obvious Ventures, Clocktower Technology Ventures, Point Judith Capital, and others. This additional investment comes just over one year after Openly raised $100 million in Series D funding.

Openly remains dedicated to working exclusively with independent agents to serve homeowners with comprehensive coverage. In 2024, Openly expanded into three additional states bringing its total to 24, and partners with nearly 50,000 independent agents with plans for ongoing expansion.

“Our investors’ belief in Openly proves that we made the right decision nearly a decade ago to operate through independent agents to deliver comprehensive coverage based on homeowners’ unique needs and circumstances,” said Ty Harris, Co-Founder and CEO of Openly. “As we continue to keep our eyes on the future, the partnership with our investors will go a long way in ensuring we’re able to maintain our position as an innovator and leader in this space.”

Openly’s growth financing includes $123 million in equity capital, led by Eden Global Partners, and a $70 million senior note from Allianz X. Participation from Allianz X builds upon a strategic reinsurance partnership between Openly and Allianz Re that has existed since 2023, and was renewed and further expanded in 2024. Eden’s investment in Openly follows its initial investment as the Series D lead.

“Eden Global Partners is proud to deepen our partnership with Openly and its leadership team. Over the past two years of working together, we’ve had the privilege of seeing first-hand Openly bring to market innovative solutions for both independent agents, who represent the largest channel of insurance distribution in the U.S., as well as homeowners. We believe Openly is in a prime position to further expand its homeowners’ insurance offering nationwide, as well as deploy its innovations to additional lines of insurance. We look forward to working with Openly as they continue to build on their market leadership and convert the biggest challenges facing the insurance industry today,” said David Dwek, Chief Executive Officer of Eden Global Partners.

“We are thrilled to strengthen our collaboration with Openly, building upon the strategic partnership with Allianz Re. Openly has rapidly emerged as a leader in the insurtech space, renowned for its commitment to sustainable growth, cutting-edge technology, and sophisticated underwriting capabilities. We are confident that this enhanced partnership will empower Openly to leverage its unique strengths and accelerate its impressive growth trajectory,” said Dr. Nazim Cetin, CEO of Allianz X.

About Openly

Openly is a remote-first premium homeowners insurance provider. Its centralized platform offers comprehensive coverage, market-leading technology, and exceptional service. Founded by industry veterans in 2017, Openly is dedicated to delivering modern and transparent homeowners insurance and empowering independent agents across America. In 2024, Openly was named a Forbes America’s Best Startup Employer and earned recognition across two Comparably awards; Best Company Outlook for small/medium-sized businesses and Best HR Team. For more information, visit Openly.com or linkedin.com/openlyllc.

About Eden Global Partners

Based in New York City, Eden Global Partners is a merchant bank dedicated to empowering visionary entrepreneurs shaping a better future. Focusing on permanent capital, we offer a unique blend of advisory services and principal investments, providing business leaders with patient, long-term financial support to tackle pressing challenges. Leveraging decades of transaction experience at leading investment banks and enterprises, our team delivers strategic financial guidance, an extensive network of capital partners, and utilizes our own balance sheet to help companies scale, innovate, and create sustainable value for all stakeholders. Discover more at Eden Global Partners or connect with us on LinkedIn.

About Allianz X

Allianz X invests in innovative growth companies in ecosystems of strategic relevance to Allianz Group’s core business of insurance and asset management. It has a global portfolio of around 25 companies and assets under management of about 1.8 billion U.S. dollars. The heart, brains, and drive behind it all are a talented team of around 40 people in Munich and New York. On behalf of leading global insurer and asset manager Allianz, Allianz X enables collaborative partnerships in insurtech, fintech, wealth management, and beyond. As an investor, Allianz X supports growth companies to take the next bold steps and realize their full potential. Keep up with the latest at Allianz X on Medium, LinkedIn, and X (formerly Twitter).

Media Contacts:

Openly
Ross Stevens
Caliber Corporate Advisers for Openly
ross@calibercorporateadvisers.com

Eden Global Partners
H/Advisors Abernathy
Deven.Anand@h-advisors.global
+1 212-371-5999

Allianz X
Gregor Wills
Head of PR & Communications
gregor.wills@allianz.com

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