Blog

March 18, 2025

Alphabet’s $32 billion acquisition of Wiz marks one of the largest cybersecurity deals in history and underscores the increasing importance of cloud security in the AI era. Google Cloud’s investment in Wiz signals a broader industry shift—one where security, AI, and multicloud adoption are converging at scale.

The Road to $32B: Wiz’s Valuation Journey

Wiz has experienced explosive growth, quickly scaling from a startup to a multibillion-dollar enterprise security leader. The team at DMM Advisory captured this journey well:

📍 $1B – December 2020 (Series A, $100M)
📍 $6B – October 2021 (Series B, $250M)
📍 $10B – February 2023 (Series D, $300M)
📍 $12B – May 2024 (Secondary, $1B)

A Different Path to Going Public

While IPOs remain the traditional route, alternative exits like SPACs and Direct Listings have gained popularity in recent years. However, one of the oldest and most effective ways for private companies to go public is through acquisition by an already public company—a strategy we’re seeing play out with Wiz.

“Bring Back Public Co to Private Co Take-Public M&A!!”

What’s Next?

If approved, this deal will not only solidify Google Cloud’s position as a security powerhouse but also set a precedent for future private-to-public M&A transactions in tech. With cybersecurity and cloud services more essential than ever, this could be the start of a new wave of acquisitions in the space.

March 17, 2025

J.P. Morgan’s latest Eye on the Market report provides a compelling snapshot of today’s economic landscape, touching on market resilience, power generation needs for AI, and the factors shaping future growth.

The Market as the Ultimate Voting Machine

One of the standout insights from the report is this quote: “Here’s the interesting thing about the stock market: it cannot be indicted, arrested or deported; it cannot be intimidated, threatened or bullied; it has no gender, ethnicity or religion; it cannot be fired, furloughed or defunded; it cannot be primaried before the next midterm elections; and it cannot be seized, nationalized or invaded. It’s the ultimate voting machine, reflecting prospects for earnings growth, stability, liquidity, inflation, taxation and predictable rule of law.”

This sentiment underscores how markets operate independently of political turbulence, instead responding to core economic fundamentals like corporate earnings, inflation, and liquidity.

A Snapshot of the Market’s Outlook

The report focuses on the current economic cycle and market outlook, offering analysis on growth expectations, investment trends, and emerging risks. With inflation cooling in some areas but structural supply constraints persisting, investors are weighing whether equity markets can sustain recent momentum or if headwinds—such as fiscal policy shifts and interest rate uncertainty—will slow progress.

Powering the AI Revolution: Energy & Infrastructure Needs

One of the most critical takeaways from the report is the unprecedented energy demands tied to AI expansion. The rapid growth of AI-driven workloads, data centers, and advanced computing is placing enormous pressure on global power grids. Key insights include:

• Rising electricity consumption from AI infrastructure could strain power supplies in major economic hubs.
• Investments in energy capacity—including nuclear, renewables, and grid modernization—are needed to sustain AI-driven innovation.
• Geopolitical considerations around energy security may influence long-term investment trends.

As AI continues to reshape industries, securing sufficient and reliable power generation will be crucial for maintaining economic and technological growth.

Final Thoughts

While uncertainties remain, the market remains resilient, reflecting broader economic fundamentals rather than short-term political volatility. At the same time, sectors like AI are poised for major expansion—but only if energy infrastructure can keep pace.

For a deeper dive into the economic themes shaping today’s markets, check out the full Eye on the Market report here.

January 30, 2025

Last week, the DMM Advisory Team had the privilege of attending the Movers & Shakers: Products of the Future event at Stanford University. This premier gathering brought together over 150 innovators from around the world, all focused on advancing the hardware sector.

Hosted by the brilliant team at Diagon, a leading manufacturing equipment marketplace, the event featured:

• Two insightful panel discussions (captured in the images below)
• A dynamic student business pitch competition
• A valuable networking dinner for attendees

One of the standout moments was hearing from Mitra Chem, a recent DOE grant recipient, whose platform is driving innovation in Battery Materials R&D. Their presentation underscored the critical role of technology in shaping the future of energy storage.

Kudos to the organizers and presenters for crafting such a content-rich and thoughtfully organized event. We look forward to attending the Q2’25 gathering!

January 15, 2025

Happy Dr. Martin Luther King Jr. Day from your partners at DMM Advisory LLC.

This day holds deep personal significance for our Co-Founder and CEO, Sinclair Ridley-Thomas, as he grew up on Martin Luther King Jr Blvd in Los Angeles. Seeing the impact of Dr King’s legacy live and then as a young adult traveling to Atlanta for undergraduate school and exploring the foundational institutions that pushed Dr. King to excavate himself to discover his talents, refine himself in the laboratory of society and build an indelible path for economic and social freedom further explained his greatness.

Urgent in all that I do personally and professionally, is what am I doing for others?

This is a guiding principle for the DMM Advisory Team and what we intend to deliver to clients and partners in how we approach supporting entrepreneurs at the intersection of technology and innovation.

May we all find ways to uplift others in our work and daily lives.

Happy King Day.

January 13 – 15, 2025

The DMM Advisory team kicked off the year at the J.P. Morgan Healthcare Conference in San Francisco, one of the most influential gatherings in the healthcare industry.

Sinclair Ridley-Thomas & Jordan Bell spent Day 1 meeting with leaders across the healthcare ecosystem, engaging in thought-provoking discussions on the future of healthcare innovation, investment trends, and industry challenges.

With so much energy in San Francisco during the conference, DMM Advisory was excited to connect with partners, clients, and industry leaders.

November 18, 2024

Born in 2024, DMM ADVISORY was Co-Founded by Sinclair Ridley-Thomas, David Distant, and Jordan Bell as a boutique investment bank focused on supporting Scale-Up technology companies in M&A and Private Capital.
Our core thesis is that management teams and investors are in a unique position to evaluate the full set of strategic corporate finance decisions given the macro backdrop, cost of capital, and types of capital + partners interested in transacting in the technology sector but need candid advice on the steps required to drive successful outcomes.
DMM Advisory’s bespoke solutions are not cookie-cutter approaches but are highly customized to meet the needs of our clients based on timing, priority objectives, and competitive landscape.
We will periodically be publishing content we hope to be value-added related to transactions that have cleared market and observations on key indicators of performance that set the tone for broader market performance.
Thanks for joining us on this journey and we look forward to continuing to find ways to partner.
Sincerely,
Your friends at DMM ADVISORY