Deal Flow Pulse: January 2026

January at Plantec was a month of varied conversations across both the ways we work with founders.

Sectors in focus

Through both direct investment and mandate conversations, three areas dominated our pipeline:

• B2B AI infrastructure, picks and shovels plays for the current AI cycle over consumer applications

• Spatial computing and healthcare data, where defensibility came through proprietary technology rather than distribution

• Proptech and mandate advisory, with strong demand for Series A guidance from founders needing specialist network access

What we're observing

Across the month, we noticed a few patterns worth naming. The patent conversation has returned, with more pre-revenue founders leading with IP portfolios as their primary asset. This remains polarising among investors. Flexibility on round structure is also increasing, with more founders willing to start with smaller cheques than their headline ask when capital efficiency is clear. And enterprise conversion continues to be the unlock that pauses or accelerates investor commitment.

We also observed that the AI tooling space is getting noisy. For every genuinely differentiated platform, there are several that lack real technical moats. Valuation expectations at growth stage remain stretched in ways that assume everything goes right. The most consistent value we add is honest reflection, careful matching, and the willingness to say when something is not the right fit. Deal flow and decisions continuing into February. 🌱