Insight Partners is reportedly on the cusp of on more than $10 billion in capital commitments for its 13th fund, per the FT .
The FT report notes that two of Insight’s portfolio companies were acquired in the last week. One of these, the threat intelligence company Recorded Future, which sold to Mastercard for $2.65 billion , was wholly owned by Insight Partners; it acquired the company in 2019 for $780 million.
The other, Own, a startup specializing in tools for backing up data in cloud-based applications, sold to Salesforce for $1.9 billion, roughly half the $3.5 billion valuation it was assigned by investors in 2021.
Insight, which is headquartered in New York and whose current portfolio includes the buzzy cybersecurity outfit Wiz , may ultimately close its new fund with roughly $12 billion, says the FT. That’s a big number but still far less than the $20 billion that Insight announced for its 12th fund in 2022, when fundraising was in overdrive across the venture industry.