Insight Partners, a PE and VC firm focused on tech and software investment, has now raised over $10bn for its 13th flagship fund, ahead of a final close which is expected in early 2025, according to a report by Venture Capital Journal citing sources familiar with the matter.
The New York-based firm is targeting $12.5bn for the fund, which has been raising capital for around two years, with a hard cap set at $15bn.
Insight has so far secured commitments from at least 17 public pension funds, including significant investments from the California Public Employees’ Retirement System and the New York State Common Retirement Fund, each contributing $300m. The Massachusetts Pension Reserves Investment Management Board and the State of Michigan Retirement Systems have each committed $150m.
Insight’s investment strategy for Fund XIII spans the global software ecosystem, focusing on high-growth SaaS, infrastructure software, and internet services companies with substantial recurring revenue. The firm typically invests between $5m and over $500m per company, covering various stages from early institutional investments to IPOs.  This stage-agnostic approach allows Insight to operate across buyout, growth equity, and venture capital segments.
