Insight Partners' largest tech fund to date closes on USD9.5bn
Global software investor Insight Partners has held a final close of its growth equity fund Insight Partners XI at USD9.5 billion, with support from Insight’s existing, as well as new, investors.
Fund XI is one of the largest global funds focused on investing in scaleup software companies, businesses that have advanced from the startup phase and are positioned for rapid growth that includes major milestones like global expansion, M&A, and IPO, according to Insight Partners.
The fund is expected to invest between USD10 million and USD350 million of equity in a company, although larger transactions are also possible.
“First and foremost, we want to acknowledge the current climate and the hardships being felt across the globe,” said Jeff Horing, Insight Partners' founder and managing director.
“We are thankful and humbled by the support of our investors which enables us to continue to deliver world class resources during turbulent economic times. Fund XI gives us continued flexibility to provide the combination of capital and operating support that suits the different needs of every software company in a dynamic world,” he added.
Insight has invested over USD19 billion in more than 400 companies since 1995. Recent deals include majority investments in Armis, Veeam, commercetools and Recorded Future, and minority investments in companies like SentinelOne, 6Sense, OneTrust, WalkMe and monday.com.
“Since our first investment 25 years ago, the global software ecosystem has matured even as it continues to innovate, spurring Insight’s own innovation in sourcing, and our data-driven partnership approach to working with scale up companies as a minority or buyout investor,” said Insight Partners managing director Deven Parekh.
Parekh continued: “We are grateful that through economic cycles and unprecedented circumstances, Insight Partners remains a sought-after institutional platform for supporting next generation software companies.”