Deal Sourcery The Future is (Almost) Here: AI in Private Equity Deal Sourcing
Feb 6, 2025
Raj Singh, founder of GoMoment and an AI entrepreneur, discusses the future of AI in private equity. He shares his journey of building an AI hotel concierge and warns against the pitfalls of generic outreach in PE. Raj emphasizes the importance of authenticity and human relationships in building connections with investors. He also dives into AI's role in enhancing outreach, the necessity of keeping humans in the loop, and how personalization can accelerate go-to-market strategies. Plus, he provides valuable advice for PE professionals on fostering trust and meaningful engagement.
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Hype Versus Production Experience
- Raj warns we're amid a Gartner-style AI hype cycle with lots of noise and quick entrants.
- Enterprises should be cautious and prefer vendors with production experience to avoid rough edges.
Hybrid Hotel Concierge Success
- Raj built GoMoment in 2014 as an AI-and-human hotel concierge called Ivy that automated ~50% of guest conversations.
- Ivy welcomed guests by text, answered common queries instantly, and scaled to hundreds of hotels and 100M users.
Founder Inbox Flooded By PE Outreach
- Raj received a flood of private equity outreach after GoMoment gained visibility and press coverage.
- He viewed most outreach as low quality and only engaged when firms showed domain knowledge and alignment.