Insight Partners It is reportedly close to making capital commitments of more than $10 billion for its 13th fund, According to the FT.
The FT report notes that two of Insight’s portfolio companies were acquired last week. One of them, threat intelligence firm Recorded Future, was sold to Mastercard for $100 million. $2.65 billionwas wholly owned by Insight Partners, which acquired the company in 2019 for $780 million.
The other, Own, a startup specializing in tools for backing up data in cloud-based applications, was sold to Salesforce for $1.9 billion, roughly half the $3.5 billion valuation assigned to it by investors in 2021.
New York-based Insight, whose current portfolio includes cybersecurity firm Wiz, could close its new fund with around $12 billion, according to the FT. That’s a high figure, but still well below the $20 billion Insight announced for its 12th fund in 2022, when fundraising was booming across the venture capital industry.