Where will the next breakout startup come from? Benchmark’s full partnership weighs in at TechCrunch Disrupt 2026

TechCrunch is bringing Benchmark’s entire current partnership to the main stage at Disrupt 2026 for a conversation called “What We Believe Now.” The session unites five general partners — Jack Altman, Peter Fenton, Chetan Puttagunta, Everett Randle and Eric Vishria — to discuss where founders should look for opportunities and which assumptions in venture investing deserve reconsideration. The timing underscores a recent strategic shift at Benchmark: the firm raised roughly $2 billion this year split between a $750 million flagship fund and a $1.25 billion growth fund. That change comes as AI reshapes capital flows — the OECD reports AI companies received $258.7 billion in venture funding in 2025, representing 61% of the year’s total, and a large share of that investment value was concentrated in deals above $100 million. Panelists bring diverse backgrounds that shape how they evaluate startups. Altman joins Benchmark after founding Lattice and running his own firm, Alt Capital; Fenton has a long track record of boards and IPOs; Puttagunta focuses on early-stage enterprise software; Randle invests across stages and categories including frontier technologies; and Vishria concentrates on infrastructure and enterprise software and previously co-founded a startup. The organizers say the session will emphasize how experienced investors disagree and update their convictions rather than present a single unified thesis. Speakers are expected to explore questions raised by the current funding landscape: whether the next breakout company will come from AI applications or other layers such as models, infrastructure, proprietary data, or distribution; whether promising businesses are overlooked because capital chases the same themes; and how rapid product development affects what makes a company investable. TechCrunch also highlights an example from Vishria’s experience: Benchmark nearly passed on Cerebras in 2016 because hardware was outside its comfort zone, but later co-led the startup’s $25 million Series A and owned 9.5% at its IPO. TechCrunch notes that session tickets are available at a reduced price until September 25 at 11:59 p.m. PT, with additional group-pass discounts, and encourages attendance to hear the full discussion live in October.