New post: 4 investment themes we're excited about incl a mix of emerging opportunities and more established areas where we've already made several investments.
Consumer-Grade Products for Business Workflows: These products digitize critical business workflows, including transactions such as ordering, spending, and payments. They come in various forms, including vertical software, B2B marketplaces, and finance platforms. These companies are driving the digital transformation of SMBs, and we continue to see immense opportunities, especially with the rise of LLMs. My next post will be about the different models we’ve seen and what we’ve learned about these companies. TravelPerk Melio Tide Motorway Qogita REKKI Libeo
E-commerce 2.0: Shopify defined the first generation of online commerce. Companies like Algolia, Klavyio, and Mailchimp have built successful businesses around the e-commerce stack. With the emergence of foundational technologies like AI, Web3, new form factors (3D, spatial computing), and the shift towards a more holistic digital commerce experience, we’re excited about the evolving e-commerce stack, from back-end to front-end and new applications. We’re moving away from monolithic SaaS solutions towards architecture and products that enable greater customization and automation. Beyond commerce via a chat interface, I’m particularly interested in the opportunity to leverage LLMs to merge “search discovery”. Medusa, Meilisearch Next Decade
AI Eating Services: AI is enabling workers to be more productive but also taking over analytical tasks. The growing reasoning capabilities of LLMs present an opportunity to offer services traditionally performed by freelancers or consultants, both at an integration/ingestion level—capturing data from multiple sources—and at a reasoning level for generating insights and triggering actions. Services industries previously considered “not venture scale” are particularly appealing to us. Faculty Streetbees Feedier
A new stack for the physical world: The most impactful products stem from layering technological breakthroughs. With its camera and GPS sensor on top of cloud infrastructure, the smartphone powered the last wave of innovation, catapulting our lives into the digital world. While AI represents the new software platform shift, we’re incredibly excited about its combination with new hardware that unlocks vast datasets about our physical world. There is a new stack to build for and on. There are numerous commercial applications to reinvent here: certification, localization, exploration, monitoring, etc. I’m particularly interested in potential applications around biodiversity to help our generation solve the climate equation. Since the start of the century, we’ve mined our physical resources to build our digital lives. We now have the opportunity to leverage our digital age to rebuild and augment our physical world.
If you’re working in these areas or have thoughts, please get in touch!
