VCTs occupy a distinctive position in the investment landscape, writes Stuart Mant
Six months ago, something close to panic gripped the software sector. Roughly a trillion dollars was wiped from the value of public software stocks in a matter of weeks, as a series of artificial intelligence (AI) product launches convinced the market that AI agents were about to devour enterprise software. Commentators competed to name the moment the ‘SaaScare,' the ‘SaaSpocalypse.' The market's interpretation was blunt: if AI agents can replicate what enterprise software does, then enterprise software is finished. But headlines and investment reality are not always the same t...
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