How we identify, track, and capitalize on the automation economy.
We buy and build B2B application software because it possesses the most superior business model in the history of capitalism. Unlike physical infrastructure or consumer hardware, software benefits from zero marginal costs of reproduction.
By acquiring established, cash-flowing SaaS assets, we bypass the aggressive upfront Customer Acquisition Costs (CAC) required to capture market share. We step directly into a mature, recurring revenue structure with baseline gross margins of 75%.
A traditional private equity firm acquires a SaaS asset and attempts to grow EBITDA by aggressively cutting headcount and raising prices. Our approach is entirely structural: we rip out legacy human workflows and replace them with custom Gemini infrastructure.
This is not traditional financial engineering. This is software engineering applied to the balance sheet. By transitioning legacy CapEx and human-intensive OpEx into autonomous API workflows, we manufacture an unbeatable structural advantage.
The future of software is headless. Agents, not humans, are becoming the primary users, interacting via APIs, natural language, and dynamic context-aware outputs. The era of static dashboards and learned, fixed UI is ending.
Interfaces are evolving from fixed layouts to generative outputs. Agents now merge context across discrete tools (CRM + Analytics + Payments), surfacing decision points with structured options and maintaining persistent memory as the new system of record, unlocking superhuman leverage.
Platforms with robust, agent-ready APIs (Stripe-like economics), proprietary data, regulatory moats, or transaction embedding. Software infrastructure that secures agent sandboxes and enables memory orchestration will capture the vast majority of the value.
UI-centric SaaS with weak APIs face massive pricing compression, unbundling, and commoditization. As agents cherry-pick the best-in-class data and tools entirely headlessly, the "Single Pane of Glass" dashboard completely loses its moat.
We do not just invest in this thesis; we build it. The exact same proprietary Gemini 3.1 Pro pipelines that we use to scale our internal portfolio companies are what we offer to our Enterprise Advisory clients.
