투자 테마
4가지 투자 테마
Capital raised through the NXT token is allocated across four theses, each led by a sector committee. The target allocation is indicative and adjusted to opportunities.
01 / 04 — 인프라, 에이전트, 산업별 애플리케이션
인공지능
Enterprise agents and automation · Compute infrastructure and optimisation · Vertical applications (health, finance, industry)
목표 배분 · 35 %
Specialised models, autonomous agents, compute infrastructure and business applications with strong traction. We favour teams with a data or distribution edge.
- Enterprise agents and automation
- Compute infrastructure and optimisation
- Vertical applications (health, finance, industry)
- 단계
- Seed – Série B
- 기간
- 5 – 8 년
- 목표 수익
- x5 – x12
Market studies
All four houses converge: AI has entered an unprecedented infrastructure build-out (around $1 trillion of global investment in 2026 according to Goldman Sachs), whose return on investment remains the central debate. BlackRock describes three phases (build-out, adoption, transformation); J.P. Morgan notes that AI capex still weighs less on GDP than the telecom or shale cycles did.
Key figures
1,05 % du PIB
AI capex weight, vs 2.67% for telecoms in 2000 and 4.75% for shale
JPMJ.P. Morgan2025년 9월What NEXT Capital takes from it
NEXT Capital favours BlackRock's phase 2: vertical applications and enterprise agents, where Goldman Sachs and Morgan Stanley expect value creation, rather than infrastructure already funded by hyperscalers.
02 / 04 — 다음 10년의 컴퓨팅
양자
Hardware and components · Software and algorithms · Quantum sensing and communications
목표 배분 · 20 %
Processors, error correction, cryogenic electronics, software and quantum sensors. A long horizon, high disruption potential, early positions.
- Hardware and components
- Software and algorithms
- Quantum sensing and communications
- 단계
- Seed – Série A
- 기간
- 7 – 10 년
- 목표 수익
- x8 – x15
Market studies
All four houses treat quantum as a long-horizon, high-disruption theme. J.P. Morgan documents a sharp acceleration of venture funding (investment up seventeenfold in ten years); Morgan Stanley tracks error-correction progress; BlackRock analyses the cryptographic threat and launched a dedicated ETF; Goldman Sachs looks at the Europe–US–China race. None publishes a firm market size: practical quantum advantage remains 'years away'.
Key figures
2,8 Md$ + 1,6 Md$
raised by US and non-US quantum start-ups through Q3 2025, a record year
JPMJ.P. Morgan2025년 11월> 1 Md$ / an
US federal R&D budgets for quantum information science (FY2022–FY2025)
JPMJ.P. Morgan2025년 11월3 sur 5
executives whose company explores quantum, notably 'quantum AI' (SAS survey, May 2025)
JPMJ.P. Morgan2025년 11월What NEXT Capital takes from it
The fund's longest thesis (7 to 10 years), consistent with the horizons described by J.P. Morgan and Morgan Stanley. NEXT Capital targets the building blocks that create value before the universal computer: error correction, cryogenic electronics, software and sensing.
03 / 04 — 더 잘 먹고, 다르게 생산하기
식품·농업
Proteins and fermentation · Precision agriculture and data · Brands and distribution
목표 배분 · 25 %
Alternative proteins, precision agriculture, traceability, nutrition and fast-growing brands. A resilient sector where technology builds lasting leaders.
- Proteins and fermentation
- Precision agriculture and data
- Brands and distribution
- 단계
- Série A – Série B
- 기간
- 4 – 7 년
- 목표 수익
- x3 – x6
Market studies
Morgan Stanley sizes alternative proteins ($150 billion by 2030) and precision fermentation (at least $30 billion in 2030, up to $120 billion in the bull case). J.P. Morgan and Goldman Sachs document food-price volatility and fertiliser dependence; BlackRock recalls that more food must be produced in the next forty years than in the past eight thousand. A resilient sector under strain, where technology creates the next leaders.
Key figures
+30 à 40 %
surge in global food prices in 2022; US consumer food prices +20%, with no reversal
JPMJ.P. Morgan2024년 5월~20 %
share of fertiliser in grain costs; over a quarter of global nitrogen-fertiliser trade transits Hormuz
GSGoldman Sachs2026년 4월40 ans vs 8 000
more food must be produced in the next 40 years than in the past 8,000
BLKBlackRock2023년 4월What NEXT Capital takes from it
NEXT Capital targets the segments sized by Morgan Stanley (proteins, fermentation) and the answers to the strains documented by J.P. Morgan and Goldman Sachs: precision agriculture, input reduction, traceability.
04 / 04 — 퍼포먼스, 데이터, 경험
스포츠
Data and performance · Experience and ticketing · Health and prevention
목표 배분 · 20 %
Performance technology, data and media, ticketing and fan experience, athlete health. A global market driven by passion and rights.
- Data and performance
- Experience and ticketing
- Health and prevention
- 단계
- Seed – Série B
- 기간
- 4 – 8 년
- 목표 수익
- x3 – x8
Market studies
Sport has become an asset class. Morgan Stanley values the global market at $521 billion in 2024, with $130 billion of additional revenue possible through technology. Goldman Sachs documents cumulative returns of US leagues above 1,000% since 2001; J.P. Morgan puts the four major US leagues at close to $500 billion and notes private equity now sits in one team in five. BlackRock has published no dedicated sector study in our sources.
Key figures
+130 Md$
additional annual revenue (+25%) unlocked by technology adoption incl. AI: ticketing +21%, media +36%, engagement +23%
MSMorgan Stanley2025년 8월+1 917 %
cumulative return of NBA franchises since 2001 (14% CAGR); NFL +1,130%, top-10 European clubs +483%
GSGoldman Sachs2024~500 Md$
combined valuation of the four major US leagues' teams; an NFL team is worth about $7bn
JPMJ.P. Morgan2025년 10월What NEXT Capital takes from it
Franchises are now beyond the fund's ticket sizes; NEXT Capital targets what Morgan Stanley identifies as the $130 billion pool: data, smart ticketing, media and experience, athlete health.
Multiples and horizons shown are non-contractual targets. Past performance is no guarantee of future results.