Insight Partners is reportedly on the verge of securing more than $10 billion in capital commitments for its 13th fund, according to a report from the Financial Times (FT).
The FT report notes that two of Insight’s portfolio companies were acquired last week. One of them, the threat intelligence firm Recorded Future, which was wholly owned by Insight Partners, was sold to Mastercard for $2.65 billion. Insight had acquired the company in 2019 for $780 million.
The other, Own, a startup specializing in backup tools for cloud-based applications, was sold to Salesforce for $1.9 billion, roughly half of the $3.5 billion valuation it was given by investors in 2021.
Insight, which is headquartered in New York and has the high-profile cybersecurity company Wiz in its current portfolio, may close its new fund with roughly $12 billion, according to the FT. While this is a significant sum, it’s still far less than the $20 billion that Insight raised for its 12th fund in 2022, a period marked by a fundraising boom across the venture capital industry.
