AI tools such as Microsoft Copilot and ChatGPT are now widely deployed across organisations. On paper, this should be transformative. In practice, most companies are capturing only a fraction of the value they’ve paid for. I’ve seen this first-hand.

AI is beginning to automate large parts of the VC and private equity investment process. But after 20 years in capital markets, one thing remains clear: preparation, process, and execution will continue to determine outcomes.