Jeff Horing’s Insight Partners is to New York enterprise capital what Andreessen Horowitz and Sequoia are to Silicon Valley. And it’s a standing that has been cemented with Insight’s newest closing.
As anticipated, Insight Partners introduced Thursday that it closed one other large flagship fund, generally known as Fund XIII, together with its second Opportunity fund, collectively $12.5 billion in new capital. An alternative fund is usually cash put aside to reinvest in present portfolio firms after they increase new rounds.
In September, it was rumored to be engaged on a $10 billion-plus fund. Insight clearly achieved that focus on, after which some. With this fund it now has $90 billion of property beneath administration.
An Insight spokesperson declined to expose what number of billions are in every new fund however a part of the cash can also be in what it calls a “devoted buyout co-invest fund.” The spokesperson stated this cash might be used for buyout software program investments, a longtime space for the 30-year-old agency.
This increase alerts that Insight has no intention of ceding the highest canine spot to upstart New York powerhouse VC, Thrive. In 2024, Josh Kushner’s Thrive led and co-led most of the largest offers from OpenAI’s $6.6 billion spherical to the $100 million Series B of Anysphere, the maker of AI coding assistant Cursor.
Insight isn’t ceding any floor. For occasion, the VC agency gained the co-lead of Databricks’ record-breaking $10 billion fundraising deal in December, alongside Thrive. It tapped into funds from its Partners Public Equities fund to take action, a fund set as much as purchase public shares. This recent capital will assist it pursue, maybe even lead, extra offers.
Interestingly, in a yr the place the locked Initial Public Offering market means lagging returns for a lot of VCs, Insight stated it did properly with its portfolio firms logging over $8 billion on exits in 2024, largely via acquisitions. These included Recorded Future to Mastercard for $2.65 billion, Own to Salesforce for $1.9 billion, WalkMe to SAP for $1.5 billion, and Jama Software to non-public fairness for $1.2 billion.
