Navigating the AI transformation: Hg’s Silicon Valley Summit
This month, Hg brought together portfolio CEOs and senior leaders with AI pioneers from the US West Coast to explore what AI transformation really means in 2026. From Kevin Weil on orchestrating fleets of agents, to Sebastian Thrun on AI in the physical world, the message was consistent: agentic AI has crossed a threshold. As Hg’s Chris Kindt put it in his closing remarks, the opportunity isn't to sprinkle AI over existing processes, it's to rebuild operating models ground-up, AI-first.
We've distilled the key insights into six imperatives for leaders navigating this moment.
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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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Following Matthew Brockman's recent article, he sits down with Head of Research David Toms for a candid conversation on what's happening in enterprise software, beyond the headlines. From vibe coding to Hg Catalyst deploying developers directly into portfolio companies, this one cuts through the noise.
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After 26 years at SAP, Franz Faerber has a counterintuitive take on building companies: don't eliminate chaos too quickly. Franz shares why chaos creates innovation and energy - and why the real danger is introducing bureaucracy you can never remove.
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Hg’s Head of Research David Toms’s latest thoughts argue that as markets price in a binary outcome for AI and enterprise software, the reality is more nuanced. AI isn't shrinking the software opportunity. It's significantly expanding it, opening the door to multiple winners across the software landscape.
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Hg Co-CEO, Steven Batchelor discusses one of the industry's most pressing challenges: the exit. He shares Hg's approach, including using a Realisation Committee to maintain discipline, and offers a perspective on best practices around secondary sales as LPs seek liquidity in a slow exit environment.
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LISTENING & READING RECOMMENDATIONS
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Dive into some of the content that we are reading and listening to!
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Some of the most impactful AI work we’ve seen hasn’t come from a strategy document, It’s come from individuals who spotted a real problem, built a solution, and shipped it. The 10x Challenge aims to to find, celebrate, and learn from the people driving AI innovation from the ground up. Learn more
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Hg’s North America "Office of the CFO" dinner in NYC, brought together founders, CEOs, and finance software leaders for an evening of conversation. A fireside chat with NetSuite founder Evan Goldberg set the tone - exploring the parallels between the cloud and GenAI shifts, and making the case that agentic AI is a massive unlock for incumbents. Read more
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The 2025 HEC Paris-Dow Jones Large Buyout Performance Ranking is out, and Hg has climbed to #5 globally. A huge thanks to our teams, portfolio leaders, and LP partners who made this possible. Read the full list
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“The pace of AI innovation coming out of Silicon Valley is remarkable, and 4CRisk is a great example of that. They’ve built an incredible platform and the team behind it will be instrumental in helping us further accelerate innovation for our customers.” Read more
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By combining stp.one's strong positions in the DACH region and in several markets across Europe with Septeo's established presence in France, the Iberian Peninsula and the Benelux, the group acquires a robust European platform serving legal professionals operating in highly regulated markets. Read more
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“We are thrilled to welcome MaisMei to the Visma family as we enhance our presence in Latin America, and together, help Brazilian entrepreneurs solidify their foundation today so they can scale into the enterprises of tomorrow." Read more
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“2025 has been another year of strong execution and expanded horizons for Visma. In a world where digital adaptability is the key to survival, we have proven once again that our offering of mission-critical business software remains highly attractive in the market," Read more
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The partnership adds peer-to-peer fundraising and events expertise to the Access charity software proposition, offering solutions that enable organisations to maximise their fundraising impact under their own brand identity. Read more
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“Cevinio brings deep domain expertise in regulatory e-invoicing and AI-driven Accounts Payable automation, which is increasingly critical as global compliance requirements continue to expand." Read more
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