Insight Partners Closes $12.5 Billion Fund, Cementing Status as Top New York Venture Capital Firm
Jeff Horing’s Insight Partners is to New York venture capital what Andreessen Horowitz and Sequoia are to Silicon Valley. And it’s a status that has been cemented with Insight’s latest closing.
Fund XIII and Opportunity Fund II: A Giant Leap Forward
As expected, Insight Partners announced Thursday that it closed another giant flagship fund, known as Fund XIII, along with its second Opportunity fund, collectively $12.5 billion in new capital. An opportunity fund is generally money set aside to reinvest in existing portfolio companies when they raise new rounds.
A Record-Breaking Fund
In September, it was rumored to be working on a $10 billion-plus fund. Insight clearly achieved that target, and then some. With this fund it now has $90 billion of assets under management.
Dedicated Buyout Co-Invest Fund
An Insight spokesperson declined to divulge how many billions are in each new fund but part of the money is also in what it calls a “dedicated buyout co-invest fund.” The spokesperson said this money will be used for buyout software investments, an established area for the 30-year-old firm.
Competition and Leadership
This raise signals that Insight has no intention of ceding the top dog spot to upstart New York powerhouse VC, Thrive. In 2024, Josh Kushner’s Thrive led and co-led many of the biggest deals from OpenAI’s $6.6 billion round to the $100 million Series B of Anysphere, the maker of AI coding assistant Cursor.
Insight isn’t ceding any ground. For instance, the VC firm won the co-lead of Databricks’ record-breaking $10 billion fundraising deal in December, alongside Thrive. It tapped into funds from its Partners Public Equities fund to do so, a fund set up to buy public stocks. This fresh capital will help it pursue, perhaps even lead, more deals.
Portfolio Performance
Interestingly, in a year where the locked IPO market means lagging returns for many VCs, Insight said it did well with its portfolio companies logging over $8 billion on exits in 2024, largely through acquisitions. These included Recorded Future to Mastercard for $2.65 billion, Own to Salesforce for $1.9 billion, WalkMe to SAP for $1.5 billion, and Jama Software to private equity for $1.2 billion.
Conclusion
Insight Partners’ latest fund closing solidifies its position as the top venture capital firm in New York, with a total of $90 billion in assets under management. The firm’s ability to raise capital and lead deals, even in a challenging market, demonstrates its strength and resilience.
FAQs
Q: How much did Insight Partners raise in its latest fund closing?
A: Insight Partners raised $12.5 billion in its latest fund closing, which includes its flagship Fund XIII and Opportunity Fund II.
Q: What will the dedicated buyout co-invest fund be used for?
A: The dedicated buyout co-invest fund will be used for buyout software investments, an established area for the 30-year-old firm.
Q: How much does Insight Partners have in assets under management?
A: Insight Partners now has $90 billion in assets under management.
Q: What was the outcome of Insight Partners’ portfolio companies in 2024?
A: Insight Partners’ portfolio companies logged over $8 billion on exits in 2024, largely through acquisitions.
