This time it's different: Big tech investors

Robert Smith, chairman and chief executive officer of Vista Equity Partners
Patrick T. Fallon | Bloomberg | Getty Images

Big investors are dismissing talk of a technology market peak given what they call unprecedented advances in the sector.

"There's still a lot more opportunity," Robert Smith, founder and CEO of Vista Equity Partners, said when asked if this was a "market top" for the tech sector.

"Today we are witnessing the greatest era of innovation in our lifetime," Smith, who manages more than $14 billion of private equity investments in tech, explained Tuesday at The Wall Street Journal Private Equity Analyst Conference in New York.