Jeff Horing's Insight Partners is to Silicon Valley what Andreessen Horowitz and Sequoia are to New York venture capital. It's a position cemented by Insight's recent shutdown.
As expected, Insight Partners was announced. On Thursday, it closed another big name fund, known as Fund XIII, along with its second opportunity fund, with $12.5 billion in new capital. An opportunity fund is generally money set aside to be reinvested when new equity is raised in existing portfolio companies.
It was rumored to be working in September. Over $10 billion in funding. Vipassana Jnana achieves some of that goal after it is clear. This fund now has $90 billion in assets under management.
An Insight spokeswoman declined to say how many billions each new fund has, but part of the money is what it also calls a “private buyout co-investment fund.” The money will be used for the 30-year-old company's established software investments, a spokesperson said.
This signals that Insight has no intention of relinquishing its top dog spot to New York powerhouse VC startup Thrive. In 2024, Josh Kushner's Thrive led and co-led many of the biggest deals. OpenAI's $6.6 billion round To $100 million of Anysphere Series B; Maker of AI coding assistant Cursor.
Vipassana does not leave any ground. For example, a VC firm Acquired co-leadership of Databricks. Record $10 billion fundraising deal in December with Thrive. It entered the funds from its Partners Public Equities fund, a fund set up to buy public stocks. New capital may even lead it; It will help you get more deals.
Interestingly, In a year where a locked-in IPO market meant lag for many VCs. Insight says its portfolio companies are well on their way to more than $8 billion in exits by 2024, mostly through acquisitions. These include Recorded Future to Mastercard. $2.65 billionown Salesforce is $1.9 billion.From WalkMe SAP $1.5 billionand to Jama Software Private equity is $1.2 billion.