Insight Partners Nears $10 Billion Close for 13th Fund Amid Major Exits
Insight Partners is reportedly closing in on over $10 billion for its newest fund, following two significant portfolio acquisitions by Mastercard and Salesforce.
Insight Partners is reportedly on the verge of securing more than $10 billion in capital commitments for its 13th fund. The New York-based firm may ultimately close the fund with roughly $12 billion, which is a massive sum but significantly less than the $20 billion it raised for its 12th fund in 2022.
This fundraising milestone comes hot on the heels of two major acquisitions within Insight's portfolio. Mastercard purchases the threat intelligence company Recorded Future for $2.65 billion, netting a massive return after Insight acquired the company for $780 million in 2019. Separately, Salesforce buys cloud data backup startup Own for $1.9 billion, which is notably below the $3.5 billion valuation the startup held in 2021.
Despite a broader cooling in venture fundraising compared to the 2022 boom, Insight continues to assert its dominance in the tech investment landscape. The firm currently maintains a high-profile portfolio that includes Wiz, a highly valued cybersecurity outfit that generates significant industry buzz.