Insight Venture Partners (Insight), a global venture capital and private equity firm based in New York City, has acquired the majority of Israeli Venture Capital Fund’s Genesis Partners IV (Genesis Partners) portfolio.
Dr Eyal Kishon, Eddy Shalev, Jonathan Saacks and Gary Gannot of Genesis Partners will continue to serve on the boards of their respective investments.
“This acquisition signifies Insight’s deep commitment to our existing portfolio in Israel, as well as innovation in the region at large,” says Jeff Horing, Co-Founder and Managing Director, Insight Venture Partners. “Genesis Partners has built a strategic portfolio that has evolved to align with Insight’s growth-stage focus. Software by nature allows businesses to operate as truly global entities across sectors and industries, and we are thrilled to double down on our roots and open new doors for opportunity in the EMEA region through this acquisition.”
Genesis Partners’ portfolio includes several high-profile companies that are also in Insight’s existing portfolio, including monday.com, Sisense, and JoyTunes.
“Israeli founders and companies strive to become independent, long-term world leaders in their respective fields. Doing so requires a big vision and a long-term perspective,” says Dr Eyal Kishon, Co-Founder and Managing Partner, Genesis Partners. “We strongly believe that this change of ownership is in the best interest of the companies that we have invested in. Insight’s transition will provide our companies with a longer funding horizon to realise their full potential, while delivering liquidity to our long-standing investors. We are excited about this new journey for our portfolio, building on a successful track record to reach even greater heights.”
“We see this as a tremendous outcome for both the companies and investors of this fund. Given Insight’s existing investment in several of our portfolio companies, this is an opportunity to continue to grow our companies together with a committed partner in leading Israeli tech companies to the next stages of growth,” says Eddy Shalev, Co-Founder and Partner, Genesis Partners. “As an early stage and Seed Fund we have placed a huge effort on supporting our portfolio companies to the point where they reached a high level of maturity and total value that represents an ideal outcome with a great return to our investors. We look forward to the success this next chapter will bring our portfolio.”
The completion of the transaction is subject to customary closing conditions.