Every software cycle ends the same way. First, we invent tools to solve new problems. Then those tools become companies. Then those companies become portfolios. And eventually, they harden into infrastructure that no one dares touch, because too much depends on them. That is where we are now with B2B software. Over the past twenty years, enterprises have accumulated thousands of systems that technically work, economically perform, and strategically hold companies together. They are profitable. They are embedded. They are also burdened by technical debt, fragmented workflows, and logic frozen in time. For years, the industry’s answer was ownership. Acquire the software. Optimize it. Hold it. Exit it. What changed is not capital. Capital is abundant. What changed is the cost of complexity and the arrival of something powerful enough to finally collapse it. AI is not interesting because it writes code faster. That is a surface effect. AI is interesting because, for the first time, we can take software apart at scale, understand it, rewrite it, and reconnect it across systems that were never designed to talk to each other. That capability flips a decade old assumption on its head. Software no longer has to be preserved to retain value. It can be transformed to unlock more of it. This is our operating principle. We do not acquire software to own it. We acquire it to rewrite it's future. To turn legacy SaaS into AI native systems that learn, integrate, and compound together inside a single operating layer. In 2025, we proved this can be done responsibly, at speed, and without breaking what already works. In 2026, we scale it. Happy New Year! #B2BSaas #LegacyQuality #AINative #PrivateEquity