Midwest-based RIA steps into growth-stage capital leadership role typically held by coastal venture firms.

CHICAGO , Feb. 9, 2026 /PRNewswire/ -- ARENA Private Wealth, a Midwest-based registered investment advisor with offices in Chicago, Cleveland, and Columbus, today announced that it played the lead role in a $230 million Series B fundraising round for Positron AI, a growth-stage technology company building energy-efficient AI inference hardware. The round values Positron at over $1 billion, achieving unicorn status, and was announced at the Web Summit Qatar.

The Series B was led by ARENA Private Wealth alongside Jump Trading and Unless, with strategic investment from Qatar Investment Authority (QIA), Arm Holdings, and Helena, as well as participation from existing investors. Capital raises of this size and stature are most often led by technology-focused venture capital firms based on the coasts, making ARENA's leadership role a notable departure from the traditional Series B playbook.

Rather than operating as a traditional venture capital firm, ARENA approaches growth-stage investing as an alternative capital partner. The firm positions itself as a bridge between private wealth and founders through an integrated platform spanning Private Wealth, Alternatives, and Capital Markets.

For ARENA's investors, this model provides access to differentiated direct investment opportunities that are typically available only through large venture funds or institutional vehicles. Through ARENA's relationships, diligence process, and ability to structure and lead transactions, investors can participate directly in opportunities like Positron, gaining exposure at a meaningful stage while remaining aligned with a disciplined, long-term approach to risk.

"Opportunities like this are rare, and that's exactly why they can be so meaningful for our investors," said Ari Schottenstein, Head of Alternatives at ARENA Private Wealth. "We say no far more often than we say yes, and when we do step forward, it's because we've done the work to understand the risks and believe the opportunity justifies that responsibility. Positron stood out because the leadership, market position, and timing aligned in a way that allowed us to bring something truly differentiated to our clients."

For founders, ARENA offers capital without competing interests and a fundraising option that operates outside traditional venture networks. In addition to capital, founders gain access to a broader and less homogeneous network, a strategic perspective informed by multiple markets and asset classes, and a collaborative partner focused on execution, alignment, and long-term value creation.

"As a founder, you're used to thinking about venture firms and strategic investors as your primary options," said Mitesh Agrawal, CEO of Positron AI. "What stood out about working with ARENA was their ability to show up as a true capital partner, bringing collaborative strategy, access to an expansive network of relationships, and a new perspective that helped us think differently about how we scale."

"This investment reflects how growth-stage companies are opening the door to who they want at the table," said Schottenstein. "Positron has shipping traction today and a credible roadmap ahead, and our role was to support that vision by showing up with broader investor support and alignment around long-term value creation."

The Positron transaction marks an inflection point in the technology capital landscape, driven by rising investor interest in alternative investments. ARENA's role illustrates how a modern private wealth firm can lead this next chapter as a relevant capital partner, stepping forward with conviction to source and shape opportunities, expanding the network of capital and ideas that support growth-stage companies.

About ARENA Private Wealth

ARENA Private Wealth is a Midwest-based wealth management firm offering an integrated platform across Private Wealth, Alternatives, and Capital Markets. With offices in Chicago, Cleveland, and Columbus, ARENA connects clients to differentiated opportunities through deep relationships, disciplined diligence, and a coordinated approach to long-term portfolio strategy. For more information, visit ARENApw.io.

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SOURCE ARENA Private Wealth