According to the Financial Times, Insight Partners is on the verge of deploying more than $10 billion in capital for its 13th fund.
The FT reported that two Insight portfolio companies were acquired last week, including threat intelligence company Recorded Future, which was sold to Mastercard for $2.65 billion but was fully owned by Insight Partners, which acquired it for $780 million in 2019.
The other, Own, a startup that specializes in tools for backing up data in cloud-based applications, was sold to Salesforce.com Inc. for $1.9 billion in 2021, nearly half of the $3.5 billion valuation investors gave it.
New York-based Insight, whose current portfolio includes buzzy cybersecurity firm Wizz, could ultimately close the new fund for around $12 billion, the Financial Times reported. That's a big amount, but far less than the $20 billion Insight announced for its 12th fund in 2022, a year of robust fundraising across the venture industry.