There’s been a lot of panicked discussion lately in SaaS. The Venture Capital market has adjusted downward, and SaaS businesses everywhere are feeling the effects.

But Ajay Agarwal says there’s no need to panic. He is the Managing Director for Bain Capital Ventures in the Bay Area, focusing on early-stage application software and SaaS investing. His portfolio companies include SaaS standouts like Optimizely, Gainsight and SendGrid, and he’s seen firsthand the challenges of growing a company. Before joining Bain Capital in 2003, Ajay was head of sales and marketing at Trilogy, where he grew annual revenues to $300 million.

He explained that the reality of the market has changed, but it’s not the end of the world.