Hg Catalyst Hackathon: 40 teams, three cities, 48 hours
Hg Catalyst hosted 40+ product and engineering teams from across
the Hg portfolio are gathering in London, Paris, and New York to build agentic AI
products, live and in parallel, over 48 hours.
Guardrails for ticket automation already in production. An AI risk assessment generator that turns photos and video into hazard reports. Digital workers that handle expense capture and travel docs for people who never sit behind a desk. A mid-case conflict checker that doesn't just run at intake but keeps watching throughout.
A small selection from around 40 builds - all on real data, solving real problems.
Exactly the kind of edge cases that make this work genuinely hard.
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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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“Teamworks is exceptionally well positioned at the intersection of sports, data, and AI. We believe the next phase of value creation will come from embedding AI deeply into core workflows to drive faster, smarter decision-making." Read more
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We brought together Product, AI, and Tech leaders from across the portfolio for our Digital Summit and the numbers speak for themselves: the Hg portfolio has scaled AI impact 5x since last year's event. Find out more
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OneStream enters this next phase from a position of real strength: more than 2x AI bookings and customers year-on-year, a 4x Gartner Magic Quadrant Leader in Financial Close, 1,800+ customers, and 18% of the Fortune 500 on the platform. Read more
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Tristan Ratchford joins Lloyd Hilton, Head of Hg Catalyst, in his second week to talk about what drew him to Catalyst, how Hg has been building towards this for longer than it looks, why vertical software is a particularly interesting arena to build products, and how the pace of AI is shaping the operating model. Read more
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Hg has won Large-Cap PE House of the Year at the Real Deals Private Equity Awards 2026. The award recognises the firm's deep domain expertise, disciplined investing, and use of AI to drive value creation across 50+ portfolio businesses. Read more
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We brought together CEOs, CTOs and CPOs from seven Hg payroll companies across Europe, the US and Canada to explore how AI is reshaping one of the largest categories in enterprise software. Discover more
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Hg has been included in Institutional Investor's inaugural Alpha Edge Buy List, which recognises private equity firms demonstrating principles-based excellence as rated by long-term capital allocators. Find out more
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This year's cohort includes three new Partners and four Directors, with a further wave spanning Principal, Senior Associate and beyond, from investment to capital solutions, value creation and operations. Read more
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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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20VC:
Aaron Levie on why everyone
is wrong
Box CEO Aaron Levie pushes back on the conventional wisdom around AI and labour markets, arguing developer headcount will grow, frontier labs will become far more valuable, and the companies that get this transition right will pull away from those that don't.
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Evan Goldberg of NetSuite explains why autonomous close agents that find exceptions while you sleep are "never going back" territory, his perfect metaphor for why AI still needs integrated data ("cell phones don't help you speak French"), and why customers "have no interest in becoming ERP hobbyists."
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Rhapsody has launched Axon, an AI agent embedded directly within its integration platforms. Axon automates workflows across FHIR, HL7v2, X12, and API-based integrations - helping teams move from requirements to go-live faster, with less manual effort. Read more
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Macaly, team.blue's AI-native web app builder, is designed for the 3.3 million European SMBs without a developer on staff. Describe what you need and 15 specialised AI agents, covering design, backend, SEO, debugging and more, build it. Discover Macaly
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After a record-breaking 2025, Visma has started 2026 the same way: ARR at an all-time high of €2,976m (+19.5% YoY), revenue of €794m (+18.5% YoY), and a customer base that has now reached 2.5 million. Read more
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25% ARR growth, 24% cloud revenue growth, and a 114% net retention rate, with 84% of revenue now recurring. This reflects the world's most asset and service-intensive organisations choosing IFS to run their most critical operations. Read more.
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