Insight Partners XI closes on $9.5bn

The fund was launched in November 2019 with a $7.25bn target. It is larger than its predecessor, which closed on $6.3bn in July 2018, exceeding its $6bn target.

Insight has invested more than $19bn in 400 companies since its 1995 inception. Recent transactions include majority investments in Armis, Veeam, CommerceTools and Recorded Future, and minority investments in SentinelOne, 6Sense, OneTrust, WalkMe and monday.com. Among its exits are Twitter, Tumblr, Trivago, Shopify, Shutterstock and Qualtrics.

"It is a complicated time to be announcing the close of our largest growth equity technology fund, Fund XI, (...) amid the brutal fallout from Covid-19. We are thankful for the ongoing support of longstanding investors, and a host of new investors who have backed Insight's data-driven approach to scaling software companies," wrote Insight Partners CEO Jeff Horing in a letter to stakeholders.

Investors
The fund received strong support from Insight's previous LPs, while attracting several new investors. Its LP base includes numerous North American pension funds, such as the New York State Common Retirement Fund, which committed $250m; the Washington State Investment Board, which invested $200m; and the Teacher Retirement System of Texas, with a $150m commitment.

Investments
Insight Partners XI targets software companies, enterprise-ready businesses that are positioned for rapid growth, global expansion deals, mergers and acquisitions, and IPOs.

The fund typically deploys equity tickets of $10-350m, although larger transactions are also possible in co-investment with LPs. It plans to build a portfolio of around 65-75 software companies, primarily based across the US and Europe.

People
Insight Partners – Jeff Horing (founder, managing director); Deven Parekh, (managing director).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Funds
• Venture
• Technology
• UK / Ireland
• France
• Nordics
• DACH
• Benelux
• Southern Europe
• CEE
• Insight Venture Partners
• Venture
• coronavirus