Hello Friends,
2026 is already shaping up to be a defining chapter for Hallstone Ventures. The convergence of AI and media is accelerating in ways that feel both inevitable and full of opportunity, and we’re grateful to be building alongside a growing community of operators, founders, and partners who share that conviction.
If you or someone in your network would like to learn more, as a potential investor, strategic partner, or operator looking to get closer to this deal flow, now is an ideal time to connect and explore what we’re building.
Main Highlights
Fund I is over 60% closed toward our $10M target, with strong demand and limited capacity remaining ahead of final close
Portfolio companies are reaching new milestones across product, traction, and market expansion.
We’re advancing diligence on several new AI + MediaTech startups for portfolio consideration.
Macro trends continue to reinforce our AI-driven MediaTech thesis.
Seth will be speaking at two industry events later this quarter.
A Fundraising Inflection Point
$6.0M closed toward our $10M Fund I target
$3.5M+ in reservations in process toward closing
Investor base is now 40+ fund investors (limited partners, or “LPs”), roughly 75% media & entertainment executives / tech leaders and 25% funds & angel investors
⚡Fund I is filling quickly, with capacity remaining for a select group of additional, high-conviction investor commitments ahead of final close.
Our investor base includes senior leaders from top studios, streamers, music labels, and cloud platforms. For new investors, this community is a front-row seat to how AI is reshaping media from the inside.
Our fund investor base and operator network create a flywheel across access, diligence, portfolio acceleration, and credibility amplification, helping us see better deals earlier and support founders more effectively.
Portfolio Updates
ORBES → Autonomous space cinematography & inspection
Continuing earth-based testing ahead of a first zero-g test flight later this year.
🎥 Watch the latest Orb render below.
ORBES is currently raising at a valuation cap 5x above our entry point, based on terms for the in-progress round.
REX → AI Chief Marketing Agent for SMBs
The REX platform is now LIVE. The company is actively beta-testing with a select group of customers before going wider later in Q1.
They are completing their raise at a valuation cap 2x our entry cap.
The team is holding demos with potential next-round co-investors and the feedback has been exceptional.
Waffle Video → Training data for visual AI
Waffle is expanding into world-model training data for advanced robotics manufacturers.
The team has launched a pilot program to capture first-person POV video data using smart glasses, opening a significant additional market opportunity.
In Diligence
We’re actively diligencing several opportunities that map directly to our focus on AI-native tools for creation, discovery, and participation:
Fan co-creation platform + GenAI engine that lets brands turn fans into co-creators, powering IP-safe, brand-safe, revenue-generating content across worlds and channels.
AI cultural discovery platform + cross-media dataset helping people explore music, film, books, podcasts, and more through direct, trackable consumption.
Macro Signals We’re Tracking
1️⃣ US “Space Economy” Growing Fast, Fueled by Younger Workforce (US Census Bureau)
Expands the talent and budget base for frontier, space-enabled media infrastructure and tools like ORBES.
2️⃣ Is AI already driving U.S. growth? (JP Morgan Asset Management)
Supports sustained long-term demand for AI-native platforms and downstream opportunities.
3️⃣ ElevenLabs Surpasses $330M ARR in Voice AI (TechCrunch)
Enterprise adoption signals a wide path to scale for MediaTech startups.
4️⃣ 2026 US Venture Capital Outlook (PitchBook)
Disciplined growth and returning liquidity point to a healthy, high-conviction era for venture investing.
Around Town
Our Managing Partner, Seth Hallen has two upcoming speaking engagements. We’d be delighted to welcome you at either event, should you plan to attend.
Silicon Valley Video Summit (Jan 27, Mountain View) – Seth will moderate “AI Capital: Betting on the Next Media Stack” with leaders from J.P. Morgan, Sony Ventures, ESPT Ventures, and Greycroft.
HPA Tech Retreat 2026 (Feb 17, Palm Springs) – Seth will moderate the panel “WTF is Going On? In the Business of Business?” on navigating disruption in the media supply chain.
Thank You & Ways to Plug In
We’re grateful for everyone who’s been part of the Hallstone story so far…founders, operators, creators, and friends of the firm. The next few years will be defining for AI in media, and we’re committed to being a useful node for anyone building or navigating that shift.
To our current fund investors (our LPs), thank you for the trust and partnership you’ve already placed in Hallstone. Your support and involvement are a big part of why we’re seeing the caliber of deal flow and momentum we’ve outlined here.
For those who are not yet investors in Hallstone Fund I but are following along as executives, founders, or industry partners, we’d love to keep you close to what we’re seeing: the deals, the signals, the projected returns, and the real-world workflows where AI is taking hold first. Fund I is now substantially raised and progressing toward final close, with room for a select group of additional, high-conviction investor commitments.
If you’d like to:
explore a potential allocation to Hallstone Fund I before final close,
discuss partnerships or pilots with portfolio companies, or
simply stay closer to the front row of AI + MediaTech,
we’d be glad to connect.
Warm regards,
— The Hallstone Ventures Team
Seth Hallen, Managing Partner
Leon Silverman, Venture Partner
Claire Lee, Venture Partner
Dave Kochbeck, Venture Partner
Derek Mether, Analyst
Disclaimer: This communication is for informational purposes only and is not an offer to sell or solicitation of an offer to buy any securities.