VC firm Insight Venture Partners announced Monday that it has closed two new funds totaling $2 billion in investor commitments.
Insight Venture Partners VII received about $1.5 billion of institutional commitments and $70 million of affiliate and friend commitments. Insight Venture Partners Coinvestment Fund II, established for co-investments in larger deals, received $450 million in commitments.
The firm says a “significant majority” of existing investors committed to the new funds.
Founded in 1995 and headquartered in New York City, Insight focuses exclusively on software, Internet and data services around the world. Here’s a breakdown of some of the firm’s most notable, recent investments:
- Last week: Free website builder Wix raised $40 million in Series D funding led by Insight Venture Partners and DAG ventures, with Benchmark Capital, Bessemer Venture Partners and Mangrove Capital Partners participating.
- November 2009: Insight joined the ranks of Kleiner Perkins Caufield & Byers, Maples Investments and more when the firm helped tip Chegg’s funding over $100 million. The book rental service, which has by now raised over $200 million, is now expanding into new educational avenues.
- September 2009: Twitter closed a “significant” round of financing from Insight Venture Partners, T. Rowe Price, Institutional Venture Partners, Spark Capital and Benchmark Capital. Though it was a late-stage round for Twitter, it will likely still prove very profitable for Insight.
- May 2009: Private fashion sales site HauteLook raised $10 million from Insight for the startup’s first round of funding. This one was awhile ago, but it’s noteworthy because it demonstrates the firm’s foresight; private sales and daily deals site proliferate like crazy these days.
To date, Insight has received over $5 billion in investment commitments. With its latest fund, the firm says it will invest up to $150 million per transaction.