The next advantage in venture is not just finding overlooked founders. It is building the systems that help them become undeniable.

Capital can open a door. But founders do not scale through capital alone.

They scale when the right systems form around them: operational discipline, trusted relationships, strategic translation, financial clarity, ecosystem access, and the infrastructure to keep moving when the first answer is no.

That is the May signal. The B. PM ecosystem is not adjacent to DVRGNT Venture’s thesis. It is part of how the thesis becomes executable. DVRGNT Ventures brings the allocation lens. B. PM Consulting brings operating discipline. The Wealth Salons brings community-rooted economic infrastructure. Together, they create a catalyst for underserved founders: not just funding, but the conditions that help companies become legible, durable, and ready to scale.

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B. at Milken: The Operating Advantage

This week, B. Pagels-Minor was in Los Angeles during the Milken Institute Global Conference, where leaders across health, finance, business, technology, philanthropy, and public policy gathered around the 2026 theme “Leading in a New Era.” Milken framed the conference around translating disruption and innovation into practical solutions for a more sustainable, equitable, and resilient future. (Milken Institute)

For DVRGNT Ventures, the clearest signal was not simply that capital was in the room. It was that the next era of venture will reward platforms that can turn capital into repeatable operating advantage. That is where the broader B. PM ecosystem matters: capital, capability, community infrastructure, AI-enabled systems, and founder care working together.

Team Signal

This month, we’re sharing Dinou’s introduction to the DVRGNT Ventures ecosystem.

Dinou’s story matters because the ecosystem is not only about supporting founders. It is also about developing the operators, analysts, and future allocators who will shape how capital moves. If underserved founders need better systems around them, then the venture ecosystem also needs people trained to see what traditional pattern matching often misses.

Read: Early Days: A Journey Into Venture

Portfolio Pulse

Beyond the Check

In “Beyond the Check: What Real Portfolio Support Actually Looks Like,” DVRGNT Ventures shows what it means for capital to become operational. The piece highlights how LP expertise, financial discipline, founder support, and clearer decision infrastructure can strengthen the system around a company — not by overriding the founder, but by helping the founder make better decisions with stronger information.

That is the thesis in practice. The B. PM ecosystem exists to help underserved founders scale by surrounding capital with capability: operating discipline, trusted relationships, strategic translation, and systems that make growth more durable. The check matters. What gets built around the check is what helps the company hold.

Market Signals from The Great 38™

Pennsylvania — Shared AI + Quantum Infrastructure Becomes Commercialization Infrastructure

Evidence
Pennsylvania’s seven research-intensive universities, the Pittsburgh Supercomputing Center, the Commonwealth of Pennsylvania, and Team Pennsylvania launched the Keystone AI + Quantum Factory on April 21, 2026. The statewide innovation network is designed to use AI and quantum computing to translate university research into practical solutions for Pennsylvania industries. (Carnegie Mellon University)

Signal
AI advantage is moving from individual company capability to shared regional infrastructure. Pennsylvania is trying to make advanced computing, research coordination, workforce development, and industry translation available as a statewide operating layer rather than as isolated university assets.

Allocation implication
For founders outside dominant coastal corridors, access to shared infrastructure can change the speed of commercialization. Regions that make advanced compute, research talent, and industry partnerships easier to access may help more startups move from technical promise to market-ready execution.

Georgia — Biopharma Anchors Turn Research Campuses Into Scale Infrastructure

Evidence
Georgia announced that UCB plans to invest $2 billion to establish its first U.S. pharmaceutical biologics manufacturing facility at Rowen, a 2,000-acre science and learning campus in Gwinnett County. The project is expected to create 330 jobs over several years. UCB separately described the facility as using a digital-first approach with AI, robotics, and automation. (Georgia Economic Development)

Signal
Georgia’s life-sciences infrastructure is moving beyond research and into advanced manufacturing capacity. Anchor facilities create downstream demand for talent, vendors, logistics, automation, quality systems, and adjacent startups.

Allocation implication
For founders, industrial anchors can function as ecosystem catalysts. They create customer proximity, workforce density, supplier networks, and technical credibility — the kinds of conditions that help startups scale beyond pitch-deck potential.

Midwest — The Capital Gap Is Still the Mispricing Signal

Evidence
Start Midwest’s 2026 ecosystem reporting describes a persistent mismatch between the region’s economic weight and its share of venture funding, framing the Midwest as a productive but undercapitalized innovation market. Its 2026 State of Midwest Innovation Ecosystem report states that the Midwest generates about 16% of U.S. GDP while receiving only about 3–5% of U.S. venture capital. (Start Midwest)

Signal
The Midwest does not lack economic scale. It lacks proportionate venture attention. That gap is exactly the kind of structural mispricing DVRGNT Ventures exists to track.

Allocation implication
When productive regions remain undercapitalized relative to their economic weight, the opportunity is not simply “more funding.” The opportunity is better capital formation infrastructure: local diligence, founder support, trusted networks, and operating systems that make investable companies easier to find and scale.

History Made in The Great 38™

Research Triangle Park — North Carolina

Industry: Research Commercialization & Innovation Infrastructure

Before the Research Triangle became shorthand for technology, life sciences, and research commercialization, it was an intentional regional strategy. Research Triangle Park was founded in 1959 by North Carolina leaders across academia, business, and government, with a mission to facilitate collaboration among the Triangle universities, promote cooperation between universities and industry, and create economic impact for North Carolina residents. (Research Triangle Foundation)

The model mattered because it did not treat innovation as a single-company outcome. It treated innovation as an ecosystem problem. RTP was built around proximity to Duke University, North Carolina State University, and the University of North Carolina at Chapel Hill, and it created a shared operating environment where research, talent, industry, and institutional support could compound. Today, RTP describes itself as the largest research park in the United States, spanning 7,000 acres and housing hundreds of companies across science, technology, government, academia, startups, and nonprofits. (Research Triangle Foundation)

Why it matters
RTP proves founders and companies scale faster when the ecosystem around them is designed to help them become legible, connected, and durable. The lesson is not simply that North Carolina attracted companies. The lesson is that public, private, academic, and civic actors built infrastructure that made the region more investable over time.

Local impact
RTP remains a durable platform for talent, commercialization, and capital formation — a reminder that regional infrastructure can compound for decades when the system is intentionally built.

Upcoming Events & Opportunities

Conversations shaping venture capital, founder ecosystems, and capital formation continue across several upcoming opportunities. This month, the pattern is clear: the ecosystem is moving through grants, summits, investor-development programs, and rooms where founders and funders become easier to find.

Founder Opportunities

MBIA Commercialization Impact Grant

Deadline: May 22, 2026, 5:00 PM ET
Location / Format: Maryland; application-based grant opportunity

The FY2026 MBIA Commercialization Impact Grant is designed to channel strategic funding through MBIA entrepreneurial support organizations into eligible Maryland companies. The program will award a total of $45,000, with individual applicants eligible for up to $5,000, and focuses on Maryland-based companies with innovative or disruptive technology-enabled business models. (bwtech@UMBC)

Why it matters: This is commercialization support routed through ecosystem infrastructure — exactly the kind of founder pathway this issue is tracking.

Seed The South Capital Summit

Date: May 18–19, 2026
Location: Charlotte, North Carolina

Seed The South brings founders, funders, operators, and ecosystem partners together in Charlotte for a two-day capital summit focused on connection, growth, and regional momentum. The summit includes founder-focused programming, investor conversations, Startup Alley, and pitch opportunities, including The Big Pitch. Pitch applications are now closed, but registration remains relevant for founders, investors, and ecosystem builders. (Seed The South)

Why it matters: This is both a founder opportunity and a funder convening. It shows ecosystem infrastructure becoming usable: founders get visibility, investors get regional access, and the Southeast gets a more intentional capital-formation pathway.

Investor / LP / Allocator Opportunities

Black Venture Institute — BVI9 Applications

Deadline: May 18, 2026, 11:59 PM ET
Cohort Dates: July 6–17, 2026
Location / Format: Remote

BVI9 is open for applications. The Black Venture Institute is designed for Black operators and executives looking to become angel, scout, and venture investors. This year’s curriculum takes an AI-first lens for evaluating, underwriting, and investing in companies built for an AI-native world. (BLCK VC) The May 4 BLCK VC email also confirms the BVI9 application deadline and July cohort dates.

Why it matters: Allocator development is founder infrastructure. More prepared investors create better capital pathways for underserved founders.

Alpha Summit U.S. by Allocator One

Date: May 28, 2026
Location: San Francisco, California
Status: Approval required / invite-oriented

Alpha Summit U.S. is an invitation-oriented gathering for LPs, family offices, emerging managers, and founders. Its stated focus is discovery, strategy, and long-term partnership building across private markets. (Allocator One Events)

Why it matters: The ecosystem around scale includes the people deciding where capital flows next.

Liquidity Summit 2026

Date: May 31–June 3, 2026
Location: Yountville, California
Status: Private / application-based

Liquidity Summit is a private, application-based investor summit for limited partners, fund managers, investors, and entrepreneurs involved in high-level capital allocation. (Liquidity Summit)

Why it matters: This is an allocator-room signal. It shows where LPs, fund managers, and serious capital conversations are concentrating.

Great Lakes Venture Capital Summit

Date: June 24–26, 2026
Location: Grand Traverse Resort, Traverse City, Michigan
Audience: Venture capitalists, regional funds, strategic partners, and investor ecosystem participants

The 2026 Great Lakes Venture Capital Summit will bring together more than 75 venture capitalists from top funds across the Great Lakes region. (Great Lakes Venture Capital)

Why it matters: This is an investor-side ecosystem opportunity. Capital formation is not only about founders finding investors; it is also about investors building trusted regional networks that make underserved founders easier to discover, diligence, and support.

Happy Birthday to Our May Celebrants

May is a birthday month across the DVRGNT team, with three team members celebrating birthdays.

We want to especially celebrate B. Pagels-Minor and express our gratitude for their leadership, vision, and continued work building DVRGNT Ventures alongside the broader B. PM ecosystem.

This month’s theme is a fitting reflection of B.’s work: the catalyst is the ecosystem. Across DVRGNT Ventures, B. PM Consulting, The Wealth Salons, and the broader BPM Brain, B. has helped make the ecosystem more legible, more operational, and more useful to the founders, operators, communities, and allocators it is meant to serve.

To celebrate B., consider:

• Donating to The Wealth Salons

• Sending a birthday message of gratitude

• Joining us in honoring the impact B. continues to bring to this ecosystem

Donate to The Wealth Salons

Final Signal

The market signals show where infrastructure is forming: shared AI and quantum capacity in Pennsylvania, life-sciences manufacturing in Georgia, and persistent capital mispricing across the Midwest.

The opportunities show how that infrastructure becomes usable: grants, summits, investor-development programs, and allocator rooms that help founders and funders move through the ecosystem with more support.

The next era of venture will not be won by capital alone. It will be shaped by the systems around the capital — the relationships, tools, operating discipline, community infrastructure, and regional intelligence that help founders become undeniable.

— The Team @ DVRGNT Ventures

There is a point in every build where the conversation has to stop sounding smart and start becoming true.

That is what April feels like to me.

Over the last month, I have been in rooms that looked very different on the surface: a financial literacy session with students and community members trying to get a firmer grip on money, a liberation dinner grounded in visibility and protection, and the ongoing work of helping companies turn possibility into structure. What tied those rooms together was not aesthetics. It was architecture.

We are in a period where capital is getting more selective, infrastructure matters more than narrative alone, and category-defining companies are being forced to prove that they can do more than generate curiosity. They have to convert belief into traction, and traction into durable positioning.

That applies to portfolios. It applies to ecosystems. It applies to people.

The signal, right now, is not just who is moving. It is who is building something that can hold.

— B.

Opening Signal

April made one thing harder to ignore: infrastructure is now visible.

Not just technical infrastructure. Commercial infrastructure. Cultural infrastructure. Relationship infrastructure. The mechanisms underneath trust, access, adoption, and repeatability are no longer back-office matters. They are the market itself.

That shift is showing up everywhere at once: in diagnostics platforms moving from credibility to distribution, in consumer brands translating cultural memory into category creation, in AI’s appetite for power reshaping state-level energy decisions, and in founder ecosystems still doing the slower, more disciplined work of building durable local advantage.

Portfolio Pulse

Precision Epigenomics

Precision is starting to look less like a science story waiting for commercial validation and more like a company assembling the rails for scale. The quarter brought real progress across quality, access, and distribution: CAP accreditation, nationwide access through AZOVA, expansion into first-responder channels, white-label distribution, reimbursement-related momentum for EPISEEK-MPE, and a live clinical utilization study. The shape of the company is getting clearer. This is no longer just about technical promise. It is about whether Precision can turn clinical credibility into a defensible commercial footprint.

Signal: Precision is moving from technical legitimacy into commercial architecture.

Allocation Implication: The question is no longer whether the science is interesting. The question is whether Precision can convert compliance, channel partnerships, and reimbursement readiness into durable adoption before the category gets crowded by louder incumbents.

O’kra / Rejuvenation Beverage Company

O’kra is beginning to read like a category-making brand rather than a novelty product. Its debut at Natural Products Expo West put the brand inside a larger industry conversation around beverage innovation, while the product itself continues to carry a distinct point of view: ancestral ingredient, modern form, clear brand memory. That matters. The strongest emerging consumer brands do not just sell taste or trend. They make a product legible enough to remember and distinct enough to revisit.

Signal: O’kra is gaining early industry visibility while staying coherent in its brand language.

Allocation Implication: The next test is whether O’kra can convert attention into repeat velocity, broader distribution, and a stronger claim on the functional hydration and beauty-adjacent beverage lane before larger players copy the surface and miss the substance.

Links: Drink O’kra | Expo West trend coverage

In the Field

Money 101 at Glendale Community College

On March 23, B. led Money 101: Building Financial Stability from the Ground Up through Glendale Community College’s Women’s History Month programming. The session covered practical financial literacy topics, including credit, budgeting, savings, investing, and long-term financial growth, but what made it land was not the topic list. It was the framing.

The strongest throughline in the session was that money is a system, and if you do not understand it, it decides for you. B. made the conversation concrete through structure instead of shame: stability first, then diversification, then leverage. The “money buckets” framework gave participants a usable way to interpret financial pressure, especially in California, where the gap between ideal budgeting guidance and actual housing costs can make people feel behind when the real issue is structural. That reframing mattered.

The room itself was small, but the reception was strong. Participants stayed engaged, the polls landed, and the Q&A moved quickly into real-life decision points: high-yield savings accounts, credit strategy, emergency planning, and what it looks like to build financial stability without pretending the cost of living is reasonable.

That is worth paying attention to. The strongest educational moments are often not the ones with the largest room. They are the ones that give people language for the stress they were already carrying.

Gender Liberation Movement Dinner, Los Angeles

B. also attended the Gender Liberation Movement Liberation Dinner in Los Angeles, a gathering that Vogue described as joyful, intentionally gender-expansive, and grounded in both celebration and protection. It was not just a social event. It was a reminder that visibility, safety, coalition, and cultural legitimacy are all part of the same infrastructure story.

The rooms that matter are not only the rooms where deals are discussed directly. They are also the rooms where narrative, protection, and community commitment are clarified in public.

Market Signals

Texas

Texas continues to look like one of the clearest places where AI infrastructure and energy infrastructure are being negotiated together in public. Meta increased its planned investment in its El Paso AI data center to $10 billion, while separate reporting around power generation and data-center demand underscores the same larger point: compute is now a land, grid, and industrial-capacity story.

Signal: AI is no longer just a software narrative. In Texas, it is visibly becoming a power-and-infrastructure buildout story.

Allocation Implication: States that can absorb data-center demand, power demand, and industrial execution at the same time will keep attracting outsized project flow and secondary economic activity.

Louisiana

Louisiana is making a different but related play. Revised utility economics around Meta’s planned Richland Parish data center are being framed not only as headline investment, but as a structure that could deliver long-term customer savings while supporting major infrastructure expansion.

Signal: Louisiana is working to make hyperscale infrastructure politically and economically legible to ordinary ratepayers, not just corporate stakeholders.

Allocation Implication: The states that can make large-scale AI infrastructure feel locally beneficial will have a strategic edge over the states that can only market these projects as prestige wins.

Wyoming

Wyoming is now part of the next-generation energy conversation in a way that deserves attention. The approval of TerraPower’s reactor project in Kemmerer puts the state inside a larger story about advanced energy, national infrastructure priorities, and the rising pressure to support future compute demand with more dependable power.

Signal: Wyoming is no longer just a legacy-energy state in this conversation. It is part of the forward-energy map.

Allocation Implication: Interior states that can support advanced energy experimentation may gain structural importance as compute demand and industrial policy continue to raise the value of dependable power.

History Made in The Great 38™

FedEx | Memphis, Tennessee

Before logistics became fashionable language in venture, FedEx turned geography into infrastructure. Operations began in Memphis on April 17, 1973, and the company’s history still reads like a reminder that category-defining businesses do not always emerge from obvious innovation capitals. Sometimes they emerge from operational advantage, geographic leverage, and a founder who understands that execution can become a moat.

FedEx did not wait for Memphis to become culturally obvious. It made Memphis strategically unavoidable.

Upcoming Events

Conversations shaping venture capital, private markets, and founder ecosystems continue across several upcoming gatherings within the broader network.

HumanX 2026

April 6–9, 2026 | San Francisco

HumanX remains one of the densest April intersections for operators, investors, and enterprise decision-makers working at the AI layer.

Link: Register for HumanX

TechCon Silicon Valley 2026

April 6, 2026 | Moscone Center South, San Francisco

TechCon Silicon Valley is positioned as a one-day forum for founders, investors, and industry leaders through panels, keynotes, and curated networking.

Link: TechCon Silicon Valley

Build in Tulsa

Tulsa, Oklahoma

Build in Tulsa remains one of the clearest examples of deliberate founder infrastructure in motion. The organization’s mission is centered on building the world’s largest network of Black entrepreneurs and closing the racial wealth gap through entrepreneurship. Its current programming continues to reflect that broader commitment to founder development, capital access, and ecosystem design.

DVRGNT’s attention here is not symbolic. It reflects a real commitment to the regional systems that make more equitable venture participation possible.

Links: Build in Tulsa | Events

NAIC Women Who Rock Mixer

April 28, 2026 | New York, NY

A women-centered networking gathering across the alternative investing ecosystem.

Link: NAIC events

NAIC Spring Fling

April 29, 2026 | New York, NY

A reception convening leaders across alternative asset management, including allocators, managers, and industry partners.

Link: Register for Spring Fling

Final Signal

The pattern is easier to see now.

The companies worth watching are not merely the ones getting attention. They are the ones translating credibility into channels, channels into adoption, and adoption into leverage.

The states worth watching are not merely the ones announcing ambition. They are the ones retooling energy, utility, and industrial logic fast enough to absorb what comes next.

And the rooms worth paying attention to are not just the rooms where capital is discussed directly. They are the rooms where trust, language, legitimacy, and community become more durable.

That is the signal.

“Momentum is visible. Durability is decided.” — B. Pagels-Minor

January tolerates ideas. February reveals direction. By March, the market begins asking harder questions.

Plans either convert into operating systems or dissolve into narrative.

Across the B. PM Brand ecosystem, March tends to surface a quieter shift: capital discipline replacing early-year optimism. Founders move from storytelling to proof, investors from curiosity to conviction.

This month’s signals reflect that transition. No loud announcements, just infrastructure taking shape — distribution pathways, operational certifications, and commercialization channels that turn promising technologies into durable businesses.

The question is no longer what could happen this year.

It is increasingly what is already happening.

Community Signal

Introducing Mel

This month we’re excited to formally introduce Mel M. to the DVRGNT Ventures team.

Mel joins the B. PM Brand ecosystem at the intersection of brand systems, automation, and narrative infrastructure — helping ensure the stories, tools, and operational frameworks behind DVRGNT Ventures scale with the same discipline we apply to capital.

Her work focuses on building the systems that make ideas durable: aligning brand architecture, operational automation, and narrative clarity so organizations can move from vision to execution without losing coherence.

Mel’s varied background spans cyber security, AI operations, systems design, and brand narratives, bringing a builder’s mindset to how organizations communicate and operate.

In the months ahead, she will be helping strengthen the internal systems and storytelling infrastructure that support DVRGNT Ventures, The Great 38™, and the broader B. PM Brand ecosystem.

You can read her full introduction here.

Portfolio Pulse

Updates from DVRGNT Ventures

Precision Epigenomics

Precision Epigenomics reached several operational milestones in February centered on commercialization and clinical credibility.

The company announced a strategic collaboration with AZOVA Health, enabling nationwide access to the EPISEEK® Multi-Cancer Early Detection (MCED) blood test through AZOVA’s digital health platform.

The platform integrates test ordering, logistics, results delivery, and patient engagement across employer wellness programs, clinical networks, and telemedicine channels.

This partnership expands the company’s distribution infrastructure beyond traditional clinical pathways, allowing EPISEEK testing to reach patients through enterprise screening programs and physician-guided digital health platforms.

Precision Epigenomics also recently received College of American Pathologists (CAP) accreditation, an important benchmark for clinical laboratory quality and operational rigor.

In parallel, the company has begun experimenting with direct-to-consumer diagnostics adoption, inviting individuals to experience the EPISEEK test and provide feedback through early access initiatives.

While exploratory, this reflects a broader industry shift: advanced diagnostics increasingly reaching consumers through hybrid physician-guided and digital health pathways.

Allocation implication

Diagnostics platforms combining clinical validation with scalable digital distribution may shorten the timeline between scientific proof and widespread clinical adoption.

Rejuvenation | O’kra

Rejuvenation’s beverage brand O’kra continued refining its product and brand strategy during February.

The company announced Pomegranate O’kra, a new flavor featuring a ruby-red profile designed around hydration and skin health. The release expands the brand’s early product portfolio while maintaining its functional wellness positioning.

The brand also marked an important retail milestone with its entry into Erewhon, the Los Angeles-based premium natural foods retailer known for curating high-end health and wellness brands.

eatOkra hosted O’kra’s founder, Anna Cobb, at a live cultural activation titled “O’kra & the History That Binds” on February 12, positioning the beverage within a broader narrative around identity, heritage, and wellness rather than a narrow product category.

These steps reflect a deliberate positioning strategy: building a consumer product not only through flavor extensions, but through cultural narrative and community engagement.

Allocation implication

Consumer brands that align founder narrative, cultural context, and disciplined product iteration tend to build deeper customer trust and long-term brand durability.

Market Signals from The Great 38™

Kentucky — SBIR Matching Grants Signal Upstream Commercialization

Evidence
Kentucky announced that eight companies would receive state matching grants totaling $862,479 through its SBIR/STTR matching funds program—an upstream indicator of commercialization support and tech formation at the state level.

Signal
States are increasingly using SBIR/STTR matching capital as an institutional lever to move federal R&D-funded companies into early commercial readiness.

Allocation implication
Where matching programs exist and are consistently funded, early-stage companies may reach “fundable proof” faster—creating a more reliable pipeline for seed and Series A formation.

Tennessee — Nuclear Energy Returns to Industrial Strategy

Evidence

The Tennessee Valley Authority continues advancing plans for small modular nuclear reactors (SMRs) at its Clinch River site in Oak Ridge.

The project is expected to become one of the first commercial deployments of next-generation nuclear power in the United States and would provide carbon-free baseload electricity for manufacturing, research facilities, and data centers.

Signal

Reliable energy infrastructure is re-emerging as a central constraint for economic growth across the American interior.

Allocation implication

Regions capable of deploying next-generation energy infrastructure may attract disproportionate industrial investment over the next decade.

Colorado — Federal Lab Access Rules Become a Deep-Tech Constraint

Evidence
A Colorado-focused report described how proposed federal security policy updates and restrictions affecting non-U.S. researchers’ access at NIST in Boulder could disrupt Colorado’s quantum ecosystem—impacting research collaboration, commercialization pathways, and talent pipelines.

Signal
In deep-tech ecosystems, research access and talent policy can become as binding a constraint as capital—especially where commercialization depends on shared lab infrastructure.

Allocation implication
Deep-tech investment theses in federally anchored ecosystems should price in policy/operations risk (lab access, export controls, workforce eligibility) as part of timeline and execution uncertainty.

History Made in The Great 38™

Walmart — Bentonville, Arkansas

Industry: Retail Infrastructure & Logistics

Long before venture capital concentrated along the coasts, Walmart demonstrated that globally significant companies could emerge from regions far outside traditional capital centers.

Founded in 1962 in Bentonville, Arkansas by Sam Walton, the company built one of the most sophisticated retail logistics systems in the world.

Rather than expanding from major metropolitan centers, Walmart’s strategy focused on smaller regional markets. By building dense distribution networks, the company delivered lower prices while maintaining operational efficiency.

Over time, that logistics infrastructure became one of Walmart’s most durable competitive advantages.

Why it matters

Walmart illustrates a pattern that continues to repeat across The Great 38™:

Durable companies often emerge where operational systems — supply chains, manufacturing capacity, and logistics corridors — matter more than proximity to venture capital.

Local impact

Today, Walmart employs more than two million people globally and has helped transform Northwest Arkansas into one of the fastest-growing economic regions in the United States.

The company’s presence has also seeded a growing ecosystem of logistics, retail technology, and supply-chain startups throughout the region.

Partner & Network Spotlight

The Wealth Salons

The Wealth Salons continues expanding conversations around financial fluency, community wealth building, and long-term economic dignity through salon-style gatherings and programming.

Donate Today

Upcoming Events

Conversations shaping venture capital, private markets, and founder ecosystems continue across several upcoming gatherings within the broader network.

SuperReturn North America
March 17–19, 2026
Miami, Florida

One of the largest gatherings of private equity, venture capital, and institutional investors in North America.

More Info

Founder Institute — Venture Trailblazers: Andrew D’Souza & Boardy
March 19, 2026
Virtual Event

A discussion on venture ecosystem infrastructure and AI-driven founder–investor matching.

More Info

Venture Capital World Summit — Los Angeles
March 31, 2026
Los Angeles, California

A venture-focused summit connecting founders, venture capital firms, and investors across the startup ecosystem.

More Info

NAIC Spring Fling — Private Capital Networking Event
April 29, 2026
New York, NY

A private capital networking event bringing together LPs, GPs, and investment professionals to exchange ideas and build strategic partnerships across the asset management ecosystem.

More Info

Final Signal

Across markets, the early part of the year often favors narrative.

By March, the signal begins to shift toward execution.

The founders building enduring companies are rarely the loudest during this phase. They are the ones quietly constructing distribution, certification, and infrastructure that make adoption inevitable.

Durability rarely announces itself.

It simply keeps advancing.

— The Team @ DVRGNT Ventures

The February Frame

January is forgiving.

February is honest.

The planning haze lifts. The resolutions thin out. What remains are decisions — whether declared or deferred.

At DVRGNT Ventures, February is when we pay attention. Not to noise, but to where capital, conviction, and execution begin to align across the B. PM Brand ecosystem.

Portfolio Pulse

Updates from DVRGNT Ventures

Precision Epigenomics

February marked a meaningful acceleration point for Precision Epigenomics, driven by validation, deployment, and growing market pull.

Momentum highlights

• External validation: Named Startup of the Year by the University of Arizona’s Tech Launch Arizona ecosystem

• Clinical progress: Continued advancement of the EPISEEK® platform across both multi-cancer early detection and disease-specific indications

• Commercial traction: Expansion through trusted clinical and mobile health partners, embedding early detection into real-world workflows

Founder update (capital formation):

Precision Epigenomics has opened a new financing round. This raise supports continued clinical development, regulatory progress, and commercial scaling. Reach out to us and we’d be happy to connect you to the Precision Epigenomics team.

Allocation implication:

Platforms that combine clinical validation with real-world deployment may shorten the distance between technical proof and durable adoption.

Rejuvenation | O’kra Sparkling Water

January 2026 marked a reset moment for Rejuvenation’s O’kra brand.

Founder Anna Cobb shared a candid account of iteration, failure, and recalibration — reframing progress not as linear momentum, but as the result of persistence and structural reset.

That grounding has carried directly into February. O’kra is hosting “O’kra & the History That Binds”, a live cultural event positioning the product within a broader narrative of identity, history, and care, rather than a narrow beverage category.

• O’kra & the History That Binds — Thursday, February 12, 2026

Alongside that cultural anchoring, O’kra announced a concrete product milestone: Pomegranate O’kra, now available for pre-order. The new flavor introduces a deeper, ruby-red profile that pairs pomegranate tartness with O’kra’s signature crisp carbonation, while maintaining its functional focus on hydration, balance, and skin health, without the texture associations typically linked to okra.

View the product announcement on Instagram

Shop / Pre-Order

Allocation implication:
Brands that align founder narrative, cultural context, and disciplined product extension tend to build longer-term consumer trust and durability.

February Market Signals from The Great 38™

Arizona — Early Formation Comes Into View

Arizona IdeaFunding closed applications February 1, surfacing pre-seed and seed-stage companies emerging from university-linked commercialization pipelines.

Signal: Early technical formation precedes broader capital attention.

Allocation implication: Upstream exposure is often clearest before Q2 institutional concentration.

⸻

Texas — Energy & Industrial Convergence

Energy Venture Day in Houston close applications on February 13, reinforcing Texas’ role as a convergence zone for climate, energy, and industrial innovation tied directly to customers and incumbents.

Signal: Capital formation is moving alongside pilots and deployment.

Allocation implication: Commercialization friction remains lower where policy, customers, and capital align.

⸻

Mountain West — Science & Hard-Tech Durability

The Space Symposium Pitch Competition closes February 15, highlighting continued output from aerospace, defense-adjacent, and dual-use programs.

Signal: Technical credibility favors longer horizons.

Allocation implication: Durability and defensibility are prioritized over velocity.

Community Signal: Welcome Ivy

This month, we formally introduced Ivy to LPs, founders, and partners across the B. PM Brand ecosystem.

Ivy’s role is focused on strengthening communication and signal flow between capital, operators, and collaborators, including but not limited to the work of DVRGNT Ventures within that ecosystem.

👉 Read Ivy’s introduction here

Partner & Network Visibility

• Fabric VC — Virtual Pitch Event

February 18, 2026 · Virtual (Zoom)

Final Note

February is when signals become legible.

Most of what matters this year won’t announce itself loudly. It will show up first as pattern, timing, and follow-through.

This publication exists to track those signals.

If something here intersects with your work, allocation thinking, or operating questions, you’re welcome to reach us directly.

Contact Us

— The DVRGNT Ventures Team

As we close out a vibrant July, we are taking a moment to reflect on the incredible journey of building. Our mission to champion the untapped potential of The Great 38™ isn't just about investing; it's about seeing possibility where others see barriers. Our GP, B. Pagels-Minor, has been a living embodiment of this vision, and it is a true privilege to share these moments of connection, leadership, and unwavering commitment with you. It is a hopeful and deeply authentic journey we are on together.

DVRGNT Wiz Quiz

1 ) What is a "unicorn" in venture capital terms?

1. A startup that has achieved profitability in its first year

2. A company valued at over $1 billion

3. A company founded by a solo entrepreneur

4. A startup with a global presence

2) What is the typical lifespan of a venture capital fund?

1. 3 Years

2. 5 Years

3. 10 Years

4. Indefinite

Keeping Up With B. This Summer!

B. recently had an insightful conversation with Alicia Castillo Holley on the Wealthing Podcast. Catch the full interview here.

New Investment Opportunities:

We believe the most promising opportunities often emerge from unexpected places. This month, we're honored to highlight a unique chance for growth and partnership.

• The Consulate General of Canada in Los Angeles: For Black-led Canadian tech founders, this is more than an event—it's an invitation to connect, to be seen, and to thrive in Southern California's tech ecosystem. We urge you to apply by August 18 and step into this transformative opportunity.

Industry Insights/Blog Highlights:

The conversations shaping our industry are evolving, and we are committed to being a part of them. Here are some insights that have resonated with us and align with our hopeful vision for the future.

• BUILDERS WANTED: At DVRGNT Ventures, we’re not afraid to say it: we love the wild ones. We’re not just investors—we’re builders. [Link]

• Building a More Inclusive Cap Table: It's a hopeful sign of progress: new legislation is making it easier for communities that have historically been overlooked to become allocators, not just applicants. This is a crucial step toward true equity in the venture ecosystem. [Link]

• "There has to be a better way for VCs to source deals:" We believe this deeply. As we've seen with Astia Fund's unique, bias-free "Sift" strategy, there is a better, more effective way to find untapped talent. Their impressively low 11% failure rate for startups is not just a statistic; it's a compassionate and compelling roadmap for a more inclusive and successful future for all. [Link]

• The numbers don't lie: While the VC landscape presents challenges, divergent-thinking investors are finding exceptional value in female-founded companies, whose share of successful exits is proving they are a worthwhile bet. [Link]

Industry Events/Highlights:

Our journey is about showing up—for our founders, for our partners, and for the communities we serve. These upcoming events are more than just dates on a calendar; they are opportunities to connect and build a more inclusive future together.

• 2025 Black Women in Venture Capital Martha's Vineyard Retreat, Martha’s Vineyard, Massachusetts (August 14-17, 2025): Join B. as they connect, learn, and collaborate with speakers and special guests from around the globe, building a powerful community of women leaders. To view the agenda, click here.

  B. will be in Martha's Vineyard for the retreat; if you are in the area and would like to connect in person, please reach out to team@dvrgntventures.com.

• Rocky Mountain Venture Capital Association - Emerging VC Summit, Boulder, Colorado (August 13-14, 2025): This event focuses on the role of independent board members in startup success. To learn more, click here.

• DiverseVC 2025, San Francisco, California (September 10, 2025): This event focuses on building a stronger community within the diverse emerging venture capitalist ecosystem. For more details and ticket purchase, click here.

• Ohio VC Fest, Cincinnati, Ohio (September 16, 2025): This annual event brings together VCs, angel investors, founders, and industry pioneers for networking, deal-making, and thought leadership. For more information, click here.

• Quantum World Congress, Washington, DC (September 16-18, 2025). This event covers quantum technology topics. For more detail visit here.

• Seattle 2025 Venture Capital World Summit (September 18, 2025): A Venture Capital World Summit event. To purchase tickets to attend, click here.

• Silicon Valley 2025 Venture Capital World Summit (September 23, 2025): A Venture Capital World Summit event. To purchase tickets to attend, click here.

• Chicago 2025 Venture Capital World Summit (September 25, 2025): A Venture Capital World Summit event. To purchase tickets to attend, click here.

• Washington DC 2025 Venture Capital World Summit (September 29, 2025): A Venture Capital World Summit event. To purchase tickets to attend, click here.

• AIF Women Investors' Forum, New York City, New York (September 30, 2025): This event aims to empower and connect women investors. Invite Only If interested in participating, use the form here to contact for more information.

Quiz Answers

Q1) B. A company valued at over $1 billion

Q2) C. 10 years

Thank you for being part of our story and for sharing in our mission. Your trust and support mean the world to us. We are confident and hopeful about the future we are building, and we are grateful to have you on this journey. Please feel free to reach out and connect.

Sincerely,

DVRGNT Ventures Team