OneStream enters into definitive agreement to be acquired by Hg for $6.4 billion
“We understand the tremendous opportunity for OneStream, as technology and industry trends continue to place increasing demands on Finance teams. To meet this need, OneStream’s powerful AI differentiation, strong global customer base and clear vision for the future of modern Finance make it a leading enterprise provider in this space and exceptionally well positioned for the future.”
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Welcome to Hg’s monthly update, designed to keep you updated with news from Hg and our
network of portfolio companies. Follow us on LinkedIn.
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Yesterday, Hg’s Silicon Valley Leadership Summit opened with a conversation between Hg's Nic Humphries and Kevin Weil, VP of Science at OpenAI, on what the next three years of AI development may hold. An early takeaway: the impact won’t come from “sprinkling AI” onto existing processes, but from rebuilding operating models ground-up and AI-first.
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In our latest podcast, Daniël Rood, director of AI go-to-market at Google Cloud, describes what he calls the “corporate immune system”. These are the forces inside successful organisations that protect what already works and quietly resist what comes next.
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Over the past year, we’ve seen the world move from platform upgrades and early AI experiments into the beginnings of true adoption. For Hg, this marks a shift from defining and building the capabilities of AI to diffusion, a phase where progress no longer comes from experimentation alone, but from acceleration. Proving why a catalyst is now essential.
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LISTENING RECOMMENDATIONS
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Dive into some of the podcasts that we are listening to!
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The OpenAI Podcast:
How AI is Accelerating Scientific Discovery Today and What's Ahead
OpenAI's VP for Science, Kevin Weil, who joined us as a speaker at our Silicon Valley Summit, discusses how frontier models are accelerating research from biology to materials science. They unpack what’s possible today, what doesn’t work yet, and why the next few years could reshape the trajectory of scientific progress.
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No Priors:
Jensen Huang on Reasoning Models, Robotics, and Refuting the "AI Bubble"
Sarah Guo, who will also be speaking at our Silicon Valley Summit this week, hosts the NVIDIA CEO on the state of AI entering 2026 including reasoning models, why AI-native companies achieve 90% gross margins, robotics, and refuting the "AI bubble" narrative. Essential context on where frontier AI is headed.
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The A16Z Show:
Alex Rampell on Venture at Scale and Founder Incentives
The a16z General Partner on what separates great founders (they "materialise talent, capital, and customers"), why the strongest companies have "hostages not just customers," and how AI is reshaping software, labour, and company formation.
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As the secondaries market matures, GPs increasingly want partners with deep sector knowledge to support their best businesses for the long term. This is a natural extension of what Hg does best: applying specialist knowledge to help scale enduring software businesses. Read more
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Across our Mercury and Genesis funds, Farouk and Stefanie combine thematic conviction with a collaborative approach, supporting software businesses as they scale and navigate change, including the opportunities created by AI. Read the full list
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AI is driving a paradigm shift in how care is delivered, decisions are made and outcomes are improved. At our recent healthcare event in San Francisco, hosted alongside the J.P. Morgan Healthcare Conference, we heard from founders and operators at the forefront of this transformation. Read more
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“FY2025 was the year Industrial AI crossed the chasm. Enterprises have moved beyond pilots and are scaling AI across the operations that matter most.” Read more
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“Ivalua’s unified platform provides the solid foundation of data, workflows and agents needed to unlock the promise of AI within large enterprises and deliver transformational value." Read more
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“MaxOptra's capabilities and the operational needs of our customer base create opportunities to explore end-to-end solutions spanning warehouse management, route planning, and business intelligence." Read more
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"Macaly adds AI-powered web app creation to our portfolio, helping SMBs build business tools faster and more efficiently, overcoming any technical knowledge barriers." Read more
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"We are excited to welcome Windsor.ai to the team.blue family. This transaction addresses the increasing demand for unified marketing and AI-powered data solutions among SMBs." Read more
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