Insight Partners has announced the raising of its $9.5 billion XI fund. The US venture capital and private equity firm, which is one of the biggest and most important investors in Israeli tech companies, had $23 billion under management prior to this fund. Insight stressed that the capital raising has been completed in the midst of the coronavirus crisis, and not before.
Over the past few years, Insight has made major investments in Israeli unicorns including JFrog, Monday, Sisense, Lightricks, SentinelOne and WalkMe. In the past, Insight was an investor in DIY website builder Wix.
Insight's most notable recent Israel deal was the $1.1 billion acquisition of IoT security company Armis. Insight, which opened its first office outside of the US in Israel last October, also invested $125 million for a stake in mobile games company MoonActive and acquired Genesis Partners fourth venture capital fund.
Last month Insight realized its investment in Israeli cybersecurity company Checkmarx when it sold its controlling stake at a company valuation of $1.15 billion, although it retained a minority holding.
Insight's new fund will typically invest between $10 million and $350 million in each company but larger investments will also be made.
Insight Partners founder and managing director Jeff Horing said, "First and foremost, we want to acknowledge the current climate and the hardships being felt across the globe. We are thankful and humbled by the support of our investors which enables us to continue to deliver world class resources during turbulent economic times. Fund XI gives us continued flexibility to provide the combination of capital and operating support that suits the different needs of every software company in a dynamic world."
Published by Globes, Israel business news - en.globes.co.il - on April 3, 2020
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