Insight Partners is reportedly on the cusp of on greater than $10 billion in capital commitments for its thirteenth fund, per the FT.
The FT report notes that two of Insight’s portfolio firms had been acquired within the final week. One of those, the risk intelligence firm Recorded Future, which bought to Mastercard for $2.65 billion, was wholly owned by Insight Partners; it acquired the corporate in 2019 for $780 million.
The different, Own, a startup specializing in instruments for backing up information in cloud-based functions, bought to Salesforce for $1.9 billion, roughly half the $3.5 billion valuation it was assigned by traders in 2021.
Insight, which is headquartered in New York and whose present portfolio consists of the buzzy cybersecurity outfit Wiz, might in the end shut its new fund with roughly $12 billion, says the FT. That’s an enormous quantity however nonetheless far lower than the $20 billion that Insight introduced for its twelfth fund in 2022, when fundraising was in overdrive throughout the enterprise business.
