On Tuesday, Emergence Capital announced it had raised a $1 billion Fund VII. 

Today, Emergence Capital general partner Jake Saper joins the podcast to talk about Emergence’s focus on B2B software and plans for the future. He also describes his point of view on how the venture industry has evolved and why it’s both the scariest and most exciting time to be in VC. Finally, we talk about what will happen to SaaS post-AI and why Jake thinks people will continue to buy software.

Finally, we cover the resurgence of the IPO market with StubHub and eToro recently filing to go public. We also covered Google’s new Gemini 2.5 model and OpenAI’s launch of image generation in ChatGPT.