New Veyra Capital insight explains why founder-led capital should assess enduring operating advantages beyond a software-only lens.
MONTEVIDEO, URUGUAY, September 16, 2026 /EINPresswire.com/ — Veyra Capital has published a new perspective by Konstantin Katsev, Venture Partner at Veyra Capital, examining why founder-led capital should look beyond software when assessing long-term opportunities.
The new analysis, Why Founder-Led Capital Should Look Beyond Software, argues that software remains an important part of modern business building, but should not become a shortcut for evaluating value creation. For founder-led investors, the more useful question is whether a business can develop durable advantages through its product, operating model, customer relationships, distribution and capacity to execute over time.
“Software matters, but durable value also comes from product, execution, trust and ownership,” said Konstantin Katsev, Venture Partner at Veyra Capital. “Founder-led capital must be able to see the whole business.”
The perspective considers businesses in which technology is one important component of a broader operating system. In such companies, value may be created through a combination of proprietary product knowledge, strong distribution, trusted customer relationships, specialist execution, brand, community or carefully designed service delivery.
This does not diminish the case for software investing. Rather, it is a case for avoiding a narrow definition of what a scalable and valuable business can be. Some of the most durable companies will be software-led. Others will combine technology with services, consumer products, transactions, physical operations or sector-specific expertise.
For founder-led capital, this broader lens also changes the investment process. It places greater emphasis on understanding how a company works in practice: where its margins come from, how it earns customer trust, what improves with scale, and which advantages are likely to remain relevant as markets change.
The publication reflects Veyra Capital’s investment perspective across technology, digital ventures, consumer businesses and selected private opportunities. The firm works with founders and businesses where patient capital, practical experience and disciplined execution can contribute to durable value creation.
The ideas behind the new perspective were also explored in a recent AI Journal interview with Konstantin Katsev, in which he discusses how founder-led capital can look beyond conventional software categories while remaining focused on businesses with clear paths to long-term value.
Read the full Veyra Capital perspective, Why Founder-Led Capital Should Look Beyond Software, and the accompanying AI Journal interview with Konstantin Katsev.
About Veyra Capital
Veyra Capital is a founder-led private investment office working across technology, digital ventures, consumer businesses and selected private opportunities. The firm partners with founders and operating teams where experience, patience and practical execution can support long-term value creation.
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Vasily Polynov
VEYRA Capital
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