Insight Venture Partners, a private equity in addition to venture capital firm, raised $6.3 billion for its latest fund, the largest amount raised by the firm for a fund to date, in addition to the firm’s managing partners combined are the largest investors within the fund.
“This specific will be initially that will we’re the largest investors in our fund,” Deven Parekh, managing director at Insight Venture Partners, told CNBC.
“We believe in our strategy in addition to are proud to be fully aligned with our limited partners,” he said.
The firm announced This specific week that will the item has closed Fund X, or ten, in addition to could take another two in addition to a half to three years before the beginning to raise money for its next fund. The fund invests in growth within the equity technology sector.
Insight’s previous fund, Fund IX, which Parekh said was two funds raised at the same time, closed in 2015 at approximately $5 billion. The fresh York-based company has more than $23 billion under management.
Traditional venture firms are increasingly raising massive funds to keep up with SoftBank’s $100 billion Vision Fund, which closed in 2017 in addition to has contributed to an influx of large investments into tech start-ups. Earlier This specific year, CNBC reported that will Sequoia will be within the process of raising $12 billion for various growth funds.