2025, our tenth year as a firm, was marked by a level of discipline that will be fully realized in the years ahead.
Private SaaS investing became a tale of two cities. On one side, high-performing, AI-native businesses attracted significant capital and premium valuations. On the other, underperforming companies struggled to grow or attract either investor or strategic interest. As market conditions improved through rate cuts, stabilizing macro dynamics, and recovering enterprise technology spend, many investors leaned into froth, paid for hype, and loosened fundamentals.
PeakSpan did not. Instead, we leaned further into what has defined our firm for a decade: alignment, focus, discipline, and compounding expertise. As a result, we delivered another year of record-breaking progress for our entrepreneurs and LP stakeholders. That progress was grounded in unwavering conviction in our strategy, disciplined capital deployment, and a continued commitment to iterative company-building. We maintained a sharp emphasis on alignment and optionality, a relentless focus on backing and serving our ideal entrepreneurial profile (IEP), and the continued maturation of our platform as an engine that predictably drives durable value creation.
Inclusive of deployed capital and pre-negotiated investment rights across all PeakSpan investment vehicles (including co-invest).
Our results reflect a philosophy we have held since day one: the best risk-adjusted outcomes are achieved through clarity of mission, deep domain and stage expertise, and alignment, enabled by a platform built to support entrepreneurs beyond capital alone.
While AI dominated headlines, we remained focused on backing bold, category-defining software scale-ups led by entrepreneurs building enduring businesses with real customers and durable fundamentals. As the next phase of software growth takes shape, PeakSpan is well positioned to help entrepreneurs scale with confidence, conviction, and control, while capitalizing on AI tailwinds pragmatically and responsibly.
