Insight Partners back in market with $7.25bn fund

Performance details of the firm's last five flagships were disclosed in pension documents obtained by Private Equity International.

Insight Partners is back in market with its latest flagship vehicle less than two years after raising its 10th flagship fund.

Insight Partners XI is targeting $7.25 billion, according documents from Teachers’ Retirement System of Louisiana’s board of trustees’ 7 November meeting obtained by Private Equity International. The figure is almost 15 percent more than its predecessor, which closed on $6.3 billion last year, according to PEI data.

Insight declined to comment.

The latest fund will make equity investments of between $10 million and $150 million and target between 65 and 75 investments, the TRSL documents show. The pension committed $75 million to the latest fund.

New York-based Insight Partners refined its investment approach from Fund VII onwards to focus less on e-commerce and dedicate more resources to software-related investments. Recent investments include threat intelligence company Recorded Future and anti-phishing technologies provider Valimail.

The firm opened its first international office in Israel in October and has invested more than $700 million across 15 investments in the country to date, according to its website. It most recently invested in Papaya Global, the global payroll and payment management platform.

The interactive chart below shows the firm’s private equity fund history, based on quarterly earnings data, according to the TRSL documents. The bubbles are sized proportionately to the size of the fund; toggle between the tabs to see how they have fared by net internal rate of return and total multiple of invested capital.

Read sister title Private Funds CFO’s in-depth interview on implementing a big tech change with Insight Partners chief financial officer Mark Lessing here.