Insight Partners’ Devin Parekh explains why his $90B firm isn’t going all-in on any single AI bet

While the rest of the venture world scrambles to secure allocations in OpenAI and Anthropic, Insight Partners is playing a different game. Managing Director Deven Parekh laid out a strategy that looks almost contrarian by 2025 standards: deliberate diversification across the AI landscape rather than concentrated bets on a handful of foundation model companies. The firm, which manages more than $90 billion in regulatory assets under management, isn’t ignoring the marquee names. Insight maintains late-stage co-investment exposure to both OpenAI and Anthropic. But Parekh’s broader thesis centers on a three-pronged approach that treats AI less like a single asset class and more like an operating system upgrade for the entire software industry. The three-pronged playbook Insight’s AI strategy breaks down into three distinct lanes. First, the firm is deploying AI internally to sharpen its own operations. Second, it’s actively helping its portfolio companies, numbering more than 900 to date, integrate AI into their products and workflows. Third, it’s making selective direct investments in AI-native companies, with a clear preference for vertical applications over horizontal model plays. T...