**Based on Conviction. Built for Outcomes.**
Rebuild SMEs into agentic-first operations.
The winners of the next decade won't be new companies. They'll be existing businesses with real customers and real revenue that get rebuilt in time. That's the market we work in.
Most operators layer AI on top of the business. The ones that win rebuild around it, with a live model of the operation at the center and people sitting on top of it rather than inside it. Judgement, taste, and customer trust stay human, and everything else becomes addressable by agents.
At PP we believe the advantage isn't headcount. It's the speed of the loop between signal and action. This is the agentic economy taking shape: systems that run on their own, around the clock. The businesses rebuilt for it move at machine speed. The rest become suppliers to the ones that did.
The economics of the AI stack are skewed. Research by Apoorv Agrawal (Stanford MS&E 435, _The Economics of Generative AI: Two Years Later_) shows **93 percent of value still sits in the semiconductor layer**.
| Layer | Share of profit | Notes |
|---|---|---|
| Semiconductor (NVIDIA-dominated) | ~70% revenue / ~79% gross profit | One-player game. $350B extra revenue in two years moved the share by almost nothing. |
| Infrastructure (hyperscalers, compute, model labs) | ~14% of profit | Margins squeezed by energy costs. |
| Application (apps, agents, organisations) | ~7% of profit, up from 3% | Where the value lands eventually. |
The cloud cycle ran the other way. Apps captured roughly 70 percent of profit, but it took fifteen years. AI may take longer. Compute costs are still not falling fast enough, and the application layer is still failing to hold value.
The split flips when the application layer builds **agentic-first companies**: strategy, product, and agents running as one system, not loose projects next to each other.
That's where we put our chips. We do not build agents next to existing work processes. We replace or rebuild those processes alongside the operator, with our own capital and our own risk in the outcome. The SME segment is large enough to build a portfolio in and small enough to move fast. That is the window.
Parallel Partners (PP) is an agentic venture-build firm. Based in Amsterdam, founded in 2025. We rebuild SMEs into agentic-first operations. We do not add AI on top of an existing process. We replace or rebuild the process alongside the operator, with our own capital and our own risk in the outcome.
We do three kinds of deals: **Transform** (we acquire the business), **Replace** (we rebuild a single work process), and **Co-build** (we build a new venture together in a joint-venture entity). We only earn through equity or revenue-share.
We sit between management consultancy and venture-building. We call it agentic venture-build.
| Modality | What it is |
|---|---|
| **Transform** | We acquire an existing SME with investors (80 to 100 percent) and rebuild it agentic-first. |
| **Replace** | We rebuild one work process inside an existing business. We earn through revenue-share or equity. |
| **Co-build** | We build a new venture with a founder inside a joint-venture entity. |
| Stage | What happens |
|---|---|
| Pre-intake | 60 to 90 minutes with a PP partner. Fit assessment with the client. |
| Intake | Understand the problem and the business context. Pick a modality: Transform, Replace, or Co-build. |
| Refinery | Translate requirements into an agent specification. |
| Validator | Confirm value, data, and risk are clear enough to build. |
| Foundry | Production build on the PP stack. |
| Live | Tool or product in production, monitored. |
| Metrics | Operational and business metrics on a real-time KPI dashboard. |
Design engineer. Nearly twenty years at the intersection of design, engineering, and AI. Founded Wonderland (acquired August 2023). Worked with partners like Nike, Adyen, Google, Balmain, IMC Trading, XTX Markets, Heineken & more.
| Name | Parallel Partners (PP) |
|---|---|
| Category | Agentic venture-build firm |
| Founded | 2025 |
| Headquarters | Amsterdam, The Netherlands |
| Geography served | Benelux, EU |
| Founder | Martijn |
| Engagement modalities | Transform, Replace, Co-build |
| Compensation | Equity and revenue-share |
| Primary market | SMEs (small and mid-sized businesses) |
| Data residency | EU |
_Last updated: 2026-06-01_