Insight Venture Partners today announced the closing of two new funds with a combined $2 billion in investor commitments.
Insight Venture Partners VII has received approximately $1.5 billion of institutional commitments and approximately $70 million of affiliate and friend commitments. Insight Venture Partners Coinvestment Fund II, which has been established for co-investments in larger deals, received $450 million in commitments.
Similar to Insight’s prior funds, Fund VII will be invested in businesses focused on the global software and Internet services industries, with capital deployed in both minority and control transactions.
“Fund VII demonstrates our ongoing commitment to help companies achieve their strategic and operational goals while building value for customers and investors,” said Jeff Horing, Insight Venture Partners’ co-founder and managing director. “Our investors support our dual approach of providing portfolio companies with financial flexibility and dedicated business expertise. We appreciate their ongoing guidance and their continued commitment to Insight through these investments in Fund VII.”
The significant majority of Insight’s existing investors committed capital to the new funds. Since its inception in 1995, Insight has received total commitments of more than $5 billion. These new funds will enable Insight to invest up to $150 million per transaction.
Insight’s most recent fund, Fund VI has invested in more than 25 companies, a number of which are headquartered outside the United States.
Insight helps companies grow by providing dedicated consulting assistance and expertise. The firm has developed strong capabilities and a global network in infrastructure software, new media and Internet deals, enterprise application software and software-enabled services.
“Our focus is to build businesses that deliver sustainable value over the long term,” said Deven Parekh, managing director at Insight. “We look forward to continuing to provide growth-stage entrepreneurs in our target investment segments with tailored financing opportunities and strong operational assistance.”
About Insight Venture Partners
Founded in New York in 1995, Insight Venture Partners is a leading growth-oriented, entrepreneur-focused private equity and venture capital firm focused on expansion and late stage investments in the global software, Internet and data services industries. Insight’s team is composed of experienced investors and operating executives with more than 150 years of collective experience in its focal industries. With over $5 billion raised since its inception and a large network of technology experts, Insight provides strong support and consulting expertise to its portfolio companies. In 2009, Insight was named among the Top Ten VCs Globally by Red Herring Magazine.
NEWS SOURCE: www.insightpartners.com