Where We Are on Software M&A 

Each August, I review the software earnings roll-up with one question in mind: What do the numbers mean for the deals my clients will pursue, or wish they had pursued, over the next 12 months? This quarter, the answer is unusually clear. The sector remains healthy, but growth is slowing, and the divide between likely buyers and likely targets is widening. If you run, sponsor, or advise a software company, now is the time to get organized. Robert Bartlett, his colleagues at Jefferies, and the Silicon Valley technology team deserve credit for the report and the hard data behind this post. 

100X 2026: Where the Energy Transition Met the AI Revolution 

There are conferences you attend, and there are conferences that recalibrate how you think about the next decade. TDK Ventures’ 100X 2026, held this week in Burlingame, California, was firmly in the second category. As a proud co-sponsor on behalf of Foley, I had the privilege of supporting my friend and client Nicolas Sauvage, President of TDK Ventures, as he and his team convened an extraordinary, invitation-only gathering of founders, institutional partners, investors, and corporate leaders who were all focused on a single organizing question: what does it take to build companies that scale not 10x, but 100x?

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