April 5, 2025
Tech News
Midjourney has unveiled V7, its first new AI image model in almost a year. Rolling out in alpha, V7 debuted shortly after OpenAI launched a viral image generator in ChatGPT, showcasing its capability to produce stunning images with enhanced coherence and quality. Users must create a personalization profile by rating around 200 images to optimize model performance, which is now switched on by default.
In addition to enhanced image coherence, V7 features a new Draft Mode that allows for rapid image generation at lower costs. Though V7 lacks certain standard features for the time being, such as image upscaling, Midjourney CEO David Holz emphasizes that user feedback will be crucial in refining the model’s capabilities and catering to individual visual preferences.
On another front, Turbine has successfully raised $22 million to address the liquidity issues faced by venture capital investors. The company aims to assist limited partners who are often stuck with their investments in VC funds by providing a credit product that allows them to borrow against their LP positions, much like a home equity line of credit. This solution is particularly appealing given the challenges caused by a slowdown in IPOs.
Turbine’s launch comes in response to a frustrating trend where venture capital investors have had limited options for liquidating their stakes due to substantial discounts on secondary market sales. Founded by entrepreneur Mike Hurst, the startup’s offering enables investors to leverage the appreciated value of their positions as collateral for loans, allowing them to maintain future upside without immediate asset liquidation.
As Turbine begins to roll out its services, initial customers include the venture firms that led its equity financing. The startup promises to provide liquidity despite market constraints, offering a path for investors to tap into their VC commitments without sacrificing potential gains in the long run.
Tech Explained
Alpha – This term refers to the initial testing phase of a software or model before its public release. In the context of Midjourney, V7 is currently in the alpha stage, meaning it is being tested for performance and features, but is not yet fully finished or available to all users.
Personalization – Personalization involves tailoring services or products to meet the specific preferences of individual users. Midjourney’s V7 model includes built-in personalization, optimizing image generation results to better align with the unique visual tastes of users based on their ratings of prior images.
Venture Capital (VC) – Venture capital is funding provided to startups and small businesses that are believed to have long-term growth potential. VC investments can be risky, but they also come with the potential for high returns. Turbine addresses the liquidity issues faced by VC investors who often find their money tied up in these funds.
Home Equity Line of Credit – This financial product allows homeowners to borrow against the equity in their property. Turbine employs a similar concept by enabling limited partners to access cash by using the value of their investments in venture funds as collateral for loans, offering a vital liquidity solution during market fluctuations.
