Deven Parekh, through Insight Venture Partners, has announced that Insight recently raised $2.57 billion for Fund XIII. It is the firm’s 8th fund since its founding in 1995. This is among the largest funds ever raised.
Insight is based in New York City. It is a key private equity and venture capital enterprise. It invests in eCommerce, Internet, on-premise, as well as Software as a Service (SaaS)-based software and data-services entities.
Insight had raised $1.5 billion for a fund plus a $500 million co-investment vehicle in its most current fund before this fund. So far, the firm has raised a combined $7.6 billion. This new fund raise makes it possible for Insight to write checks that are as much as $300 million in amount. Insight reaches and tracks approximately 30,000 companies annually. Insight, through Deven Parekh, its other managing directors, and more than 50 employees, makes 10-20 investments annually.