Insight Partners’ Devin Parekh Explains Why the Firm Isn’t Betting Solely on OpenAI or Anthropic

Devin Parekh, a managing partner at Insight Partners, sat down to discuss how his $90 billion firm is navigating the fast‑moving artificial‑intelligence landscape. While many venture funds are pouring capital into OpenAI and Anthropic, Parekh says Insight is deliberately keeping its AI portfolio broad and balanced.

He first addressed the recent loss of Legora to General Catalyst. Rather than framing it as a setback, Parekh described the transaction as a strategic realignment. “Legora’s move to General Catalyst is a portfolio adjustment, not a failure. It gave us an opportunity to re‑evaluate where we can add the most value,” he explained.

When asked why Insight still holds stakes in rival AI labs, Parekh emphasized the value of diversification. “Putting all our eggs in one basket—especially in a sector as volatile as AI—creates unnecessary risk. By supporting multiple research groups, infrastructure providers, and application‑focused startups, we spread risk and gain early insight into emerging breakthroughs,” he said.

Insight’s current AI holdings include companies building data pipelines, model‑training platforms, and niche vertical solutions. Parekh highlighted that this breadth allows the firm to track innovations across the entire stack—from novel architectures to safety protocols and ethical frameworks—far more effectively than a single‑bet approach would.

Regulatory uncertainty also plays a role in the firm’s strategy. Parekh noted that future legislation could limit the dominance of any one AI provider, making a diversified exposure a hedge against policy shifts. “We anticipate that governments will intervene to prevent monopolistic control in AI. Our diversified portfolio positions us to thrive regardless of how the rules evolve,” he added.

In summary, Parekh argues that Insight Partners’ decision to stay diversified—rather than concentrating capital on the current market darlings—offers both risk mitigation and a richer pipeline of innovative technologies, positioning the firm for sustainable long‑term growth in the AI era.

Source: TechCrunch

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