Just 483 deals sucked up 69% of all Q4 capital—we're talking 1.5 trillion dollars flowing to the mega-deal market while everyone else fights over crumbs. One company, McCarthy Investment, closed a single 51.9 billion dollar transaction that represents more money than most venture funds will deploy in their entire 15-year existence. If your fund can't write nine-figure checks or you don't have hyper-specialized deal flow, you're not just losing—you're structurally locked out of where the actual money is going.