'SaaS Awakening' Emerges Mid-April — Goldman Survey Shows 49% of Institutional Allocators Increasing Software Exposure

FinancialContent·medium signal

After an 18-month correction that wiped trillions in software value, institutional buyers are rotating back into cloud stocks in mid-April 2026 — the first significant inflow since the 'Project Operator' panic of January. Goldman Sachs found 49% of institutional allocators plan to increase software exposure, the highest net figure since 2017. PE firms are preparing multi-billion take-private bids at 3.1x-3.4x EV/Revenue. For builders: the smart money is signaling that the structural re-rating is nearing completion, and cash-flow-positive niche SaaS companies are now acquisition targets.