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Jeff Horing’s Insight Partners is to New York venture capital what Andreessen Horowitz and Sequoia are to Silicon Valley. And it’s a position that is rooted in the recent closing of Insight.
As expected, Insight Partners he announced On Thursday it closed another large fund, called Fund XIII, along with its second fund Opportunity, with a total of $12.5 billion in new capital. Venture capital is often money set aside to reinvest in existing companies when they raise new capital.
In September, he was reported to be working on a $10 billion-plus fund. Consciousness accomplished that goal, and then some. This fund now has $90 billion in assets under management.
An Insight spokeswoman declined to disclose how many billions are in each of the new funds, but a portion of that money is also in a “committed buyout co-investment fund.” The spokesman said the money will be used to finance the purchase of software, a facility established by the 30-year-old company.
This shows that Insight has no intention of leaving the top dog spot to start New York VC powerhouse, Thrive. In 2024, Josh Kushner’s Thrive led and integrated many of the largest projects. OpenAI is a $6.6 billion round to where $100 million Series B for Anysphere, creator of AI coding Assistant Cursor.
Consciousness leaves no reason behind. For example, a VC firm won Databricks’ lead Breaking the $10 billion fundraising record in December, along with Thrive. It raised money from its Partners Public Equities fund to do so, a fund set up to buy public stocks. The new headquarters will help track, perhaps lead, more businesses.
Interestingly, in a year when the closed IPO market meant many VC returns, Insight said it had done well with its companies cutting more than $8 billion in exits in 2024, mostly through acquisitions. This includes Recorded Future to Mastercard for $2.65 billionWho to Salesforce for $1.9 billionWalkMe to SAP of $1.5 billionand Jama Software to private equity of $1.2 billion.
