Insight Partners co-head Devin Parekh explains why his $90 billion firm is staying diversified while rivals pile into OpenAI and Anthropic. In a TechCrunch Strictly VC interview in New York, Parekh discussed losing Legora to General Catalyst, holding stakes in rival AI labs, and conflicts of interest in venture investing. He said AI risks like open-source misuse exist but are outweighed by benefits such as faster drug discovery and healthcare scaling, citing his NYU Langone board work predicting heart attacks from 50 million patient records.

On strategy, Parekh noted buyouts are struggling with high rates and lower exit multiples, while fast-moving rounds with little incremental data push Insight earlier with smaller bets. The Wiz Series A exemplifies this approach, delivering outsized returns with limited downside. He also addressed global talent flattening, noting Insight's geographic flexibility across funds.

Parekh emphasized letting portfolio performance speak over loud messaging, sticking to founders and companies rather than chasing trends.