Tech Investor Insight Partners Raises $1.3B for Continuation Fund

Technology investor giant Insight Partners has raised about $1.3 billion, falling short of its $2 billion goal, for the final close of its second continuation fund, with HarbourVest Partners and Lexington Partners leading a group of limited partners investing in the fund.

The fund will take stakes in software companies across six Insight funds, with LPs able to choose whether they would take liquidity or remain fully invested in the assets.

“We are grateful for the shared conviction in the value of this portfolio with HarbourVest and Lexington and the continued commitment by a large portion of existing LPs in these specific assets,” said Insight managing director and COO Ian Sandler.

Headquartered in New York City, Insight Partners oversaw more than $75 billion of regulatory assets at the end of last year and has invested in more than 600 companies globally and has seen over 55 portfolio companies achieve an IPO.

A problem that has plagued other venture capital and private equity businesses reveals that Insight’s investors, or limited partners, objected to the company’s prior valuation of the underlying assets, according to the final close of the fund.