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Thought Pieces

Services Won't Become Software

Services Won't Become Software

There's a growing consensus in venture right now that AI is transforming services businesses into software businesses, so much so that services companies are now considered venture-backable in ways they never were before. Several prominent VC firms framed it as a $4.6 trillion "service as software&

Will Vertical AI Survive?

Will Vertical AI Survive?

In the past 3 weeks, Anthropic in particular has been on an absolute tear. Claude Code, Cowork, Claude for Excel and Claude for legal review have left the market asking questions of the entire Saas industry and the emerging Vertical AI ecosystem at large. The current consensus view is saas

Fireside Chat with Yoseph West of Relay

Fireside Chat with Yoseph West of Relay

It was a pleasure to host a fireside with Yoseph West last week. Yoseph is the CEO and Founder of Relay, a platform designed to give small business owners complete control over what they are earning, spending, and saving. In 2025, Relay surpassed $1 billion in customer deposits! Yoseph shared

Team or TAM? Wrong question…

Team or TAM? Wrong question…

For early stage venture investors a consistent debate has always been Team or TAM. Both sides share compelling evidence but where you land is typically a by-product of an innately human perception of risk and tolerance for the messy unknown. Generally, I’ve come away from this debate with the

BTV AGM: Checking In on Embedded Fintech

BTV AGM: Checking In on Embedded Fintech

Back in our Fund I pitch deck, we said "everything is fintech." We even have a big neon sign in our office that says it! The idea was that fintech would become an increasingly important component of successful businesses that others don't traditionally think of as

AI-Native Systems Are The Default

AI-Native Systems Are The Default

A few weeks ago, I published Fintech x AI: The Next Great Intersection, the first of a two part segment, wherein I shared more about the opportunities we are currently observing at the intersection of Fintech x AI. I covered emergent business models, the types of products taking shape and

Fintech x AI: The Next Great Intersection

Fintech x AI: The Next Great Intersection

We recently announced our third fund at BTV and on the back of that, JC in On the Heels of Fund III: Fintech’s Next Chapter, shared our thoughts on why fintech is “back again”. At BTV, we’ve always thought of ourselves as investors at the intersections. Specifically where