A Softer Q1 for Online Private Markets, With Some Hidden Strength in Reg CF

CHART OF THE WEEK

Kingscrowd’s new Q1 2026 Online Private Markets Report shows a softer start to the year, with Reg CF capital raised falling 29% year over year and Reg A+ declining as well, though the Reg A+ drop looks far less severe once the $75 million Newsmax outlier from Q1 2025 is adjusted out. Beneath the headline slowdown, however, the data also points to some hidden strength in Reg CF: average raise sizes for both equity- and debt-based offerings increased, median debt raise size moved higher, and average check size rose to $1,840. The report also breaks down where capital concentrated across the platform landscape, with DealMaker Securities, StartEngine, and Wefunder leading Q1 2026 activity. Read the full analysis on Kingscrowd for more on what drove the quarter, why fewer new offerings mattered, and what the latest data says about the state of the online private markets.

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JOIN US: INVESTMENT CROWDFUNDING WEEK 2026

Investment Crowdfunding Week is April 13–15 — three days of live company pitches, expert conversations, and a $5,000 Grand Prize on the line.

20 Kingscrowd-rated companies. Five qualifying pitch rounds. One Championship. Kingscrowd analysts picked the most compelling active raises in the market right now. Attend live, vote for your favorites, and get in before the window closes.

Beyond the pitches, ICW features investor-focused sessions worth showing up for:

🎙️ Creators as an Asset Class Monday, April 13 · 2:00 PM ET · Fireside Chat Scott Kitun — GigaStar's CBO and the operator who scaled Songfinch from $500K to $100M — joins Brian Belley to explore how platforms like GigaStar are turning YouTube AdSense revenue into investable securities. What makes creator-backed assets compelling, what the risks look like, and where this category is heading.

🎙️ Beyond Stocks: Collectibles, Sports & the New Alternative Investing Wednesday, April 15 · 2:00 PM ET · Fireside Chat Darren Rovell — former ESPN reporter, sports business analyst, and co-founder of cllct media — joins Scott Kitun to discuss what's driving valuations in the collectibles and sports marketing space, where sophisticated money is flowing, and how everyday investors can think about alternative assets as part of a modern portfolio.

INSIDE STARTUP INVESTING

On Inside Startup Investing, GACW CEO Harmen van Kamp explains the company’s patented airless wheel system, originally built for military use and now expanding into commercial markets like off-road vehicles and EVs.

For investors, the opportunity combines deep-tech IP, early defense demand, and a path into larger mobility markets—balanced against the execution risks of scaling hardware and manufacturing.

Listen in your browser

PITCH REVIEW 💸

By Léa Bouhelier-Gautreau \ Deal Report

Brief: NOVICA is an online marketplace that connects consumers with handmade goods from artisans around the world, offering jewelry, home decor, art, and gifts rooted in cultural craftsmanship. Built on a long-standing cross-border commerce model, the platform supports artisans with product development, quality control, and global fulfillment while giving shoppers access to authentic, story-driven products. Serving over 1 million customers and featuring tens of thousands of items, NOVICA has delivered more than $143 million to artisan partners to date. The company addresses the lack of market access for global artisans by enabling direct-to-consumer sales with fewer intermediaries and stronger economic outcomes.

Léa’s Quick Take: 

I’ve seen plenty of “ethical marketplace” pitches over the years, and most blur together. NOVICA is one of the few that doesn’t.

Founded in 1999 in partnership with National Geographic, NOVICA set out to connect artisans in developing countries directly with global consumers. The premise is simple but powerful: cut out intermediaries, preserve cultural craftsmanship, and ensure creators capture more of the value they produce.

That model has held up over time. NOVICA has built a network of thousands of artisans across regions like Latin America, Africa, and Southeast Asia, offering everything from handmade jewelry to home goods. Unlike many marketplaces that lean heavily on aggregation, NOVICA has always emphasized storytelling and transparency. Each product is tied to a specific artisan, often with personal background and cultural context.

But longevity cuts both ways. NOVICA isn’t a hypergrowth startup; it’s a decades-old business operating in a category that has since become crowded. Platforms like Etsy, Shopify, and even Amazon Handmade now compete for both artisans and customers, often with greater scale and distribution advantages.

That raises the key question: what is NOVICA’s edge today? Its mission-driven brand and long-standing artisan relationships are real assets, but it’s less clear how defensible they are in a market where “handmade” and “ethical sourcing” have become table stakes. Actually, revenues have been declining.

Still, there’s something durable here. NOVICA isn’t trying to reinvent commerce: it’s trying to rebalance it. And in a world where consumers are increasingly interested in where products come from and who makes them, that positioning could matter more than ever.

At a 3.4x valuation, NOVICA isn’t just another marketplace. It’s a long-running attempt to build a more equitable one — and that alone makes it worth a closer look.

STAFF PICKS 🌶️

Solsten

By Léa Bouhelier-Gautreau

Solsten is one of the few AI bets with a real data moat. Instead of generic outputs, its platform (Elaris) is trained on proprietary psychological data, letting companies generate marketing that actually resonates with how their customers think and behave. If AI commoditizes content, Solsten is betting the real value is in who understands the human behind it.

Edison Interactive

By Léa Bouhelier-Gautreau

The virtual golf startup is now becoming an operating system for out-of-home screens. It has real traction with already 55,000 screens and $13 million in revenues. But is this enough to justify a $200 million valuation? How much returns can investors hope to get from this deal?

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