Insight Partners’ Deven Parekh on why the firm is diversifying while everyone else bets the farm on OpenAI and Anthropic

Insight Partners’ Deven Parekh discussed the firm’s AI investment strategy, including losing Legora to General Catalyst and holding stakes in competing AI labs. He said Insight is deliberately staying diversified rather than concentrating capital in the most-hyped players like OpenAI and Anthropic.

The comments highlight a split in venture strategy as AI funding becomes increasingly concentrated around a few frontier model companies. Insight’s approach suggests some major investors see broader opportunities across the AI ecosystem, from applications to infrastructure, rather than relying on a handful of dominant labs.