How is large cap software investing different than middle market software investing?

I’ve mostly done middle market software investing where EVs are <$500 with ~20%+ top line growth and various corporate infrastructure / new growth initiatives to create value.
 

What’s it like investing in more scaled, mature software businesses that may have slower growth, exist in fully penetrated markets, have maximized EBITDA margins, etc.
 

Where do your returns come from? It seems like a lot of effort to win deals and generate returns at that size. 

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