We’re excited to catch you up with the latest at MGV in this year’s first edition of The SCOOP!

One of the things we’ve been thinking a lot about is AI’s existence within tech, specifically, deciphering what excitement will be sustained from what’s trending. Though products coming to market are rapidly evolving, the first quarter of 2025 continued to prove AI is not just a passing wave; it’s the foundation of what’s next. Agentic AI is of particular interest thus far this year as we shift away from model development and towards applications of AI integrating in everyday workflows. The speed of iteration is unlike anything we’ve seen before.

Despite the recent volatility in global markets, the rush of innovation is driving a feeling of optimism in venture opportunities, Google’s $32 billion acquisition of Wiz being the biggest splash in Q1. It’s truly an outstanding exit, notably the largest acquisition of a private company ever. As early stage investors, we’re encouraged by these acquisitions as they demonstrate a broader trend of substantial returns to those with early conviction. We’re doubling down on our investments in AI applications and infrastructure these days and are excited to continue investing in the space.

Alongside the rapid proliferation of AI-based applications, software vulnerabilities are becoming a growing concern, and as a response enterprises will have to invest heavily to protect themselves. The Wiz acquisition underscores that today’s innovation boom isn’t just about AI productivity, it’s also about defense. Because many AI vulnerabilities are unique to these systems, we’re keeping an eye on startups designing novel security solutions.

At the same time as AI innovation and adoption accelerates, the broader tech industry is navigating a correction. Layoffs continue, not just as a response to overhiring but as a sign of shifting priorities. Companies are optimizing for efficiency, cutting unnecessary costs, and leaning into automation. This recalibration is painful in the short term but necessary for long-term growth. Despite macro uncertainty, we believe it’s still a great time to back new ideas. Startup outcomes are most tied to great products built by great teams, and market pullbacks are often the best times to be making deals.