Key Takeaways
- • Eight large private equity firms, including Apax, Clearlake, EQT, Francisco Partners, Hg, Permira, Thoma Bravo and Vista, shared their views with PEI Private Equity on software investing as AI reshapes the sector.
- • Managers are focusing on defensible moats, AI-native companies and the emergence of "vibe coding" as key themes in technology, media and telecom (TMT) deal flow.
- • The PEI Private Equity feature, published 26 October 2026 and authored by Craig McGlashan, frames current conditions as producing buying opportunities in software.
Summary
PEI Private Equity's TMT Sector Spotlight, published 26 October 2026 and written by Craig McGlashan, gathers perspectives from eight private equity firms on the software market and the role artificial intelligence is playing in investment decisions. The firms quoted are Apax, Clearlake, EQT, Francisco Partners, Hg, Permira, Thoma Bravo and Vista. The article is tagged under deals, fundraising, venture capital, AI and value creation, covering both North America and Western Europe.
According to the piece, the headline thesis is that buying opportunities are emerging in software even as AI dominates investing activity in the sector. The managers discuss how they assess defensible moats in software businesses, how they view AI-native companies as a distinct category, and how the rise of vibe coding, the practice of building software through AI-assisted prompting, is affecting the competitive landscape.
The source article is a long-form feature of roughly ten minutes reading time. The summary above reflects the headline, standfirst and themes disclosed in the primary source; specific deal values, fund sizes and individual manager quotes are not available in the text provided and are therefore not reported here.
According to the piece, the headline thesis is that buying opportunities are emerging in software even as AI dominates investing activity in the sector. The managers discuss how they assess defensible moats in software businesses, how they view AI-native companies as a distinct category, and how the rise of vibe coding, the practice of building software through AI-assisted prompting, is affecting the competitive landscape.
The source article is a long-form feature of roughly ten minutes reading time. The summary above reflects the headline, standfirst and themes disclosed in the primary source; specific deal values, fund sizes and individual manager quotes are not available in the text provided and are therefore not reported here.
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