djevents via FlickrInsight Venture Partners Managing Director, Jeff HoringLast week, Insight Venture Partners’ portfolio company Tumblr had some billion-dollar news. Now the VC and private equity firm has some billion-dollar news of its own.
Insight Venture Partners has closed its eighth fund totaling $2.57 billion, far exceeding initial reports of $1.5 billion in April. It’s one of the biggest funds ever rasied.
Insight Venture Partners is an 18-year old private equity and VC firm. Its strategy has been to target Internet and software companies, but to shell out smaller amounts than some other large firms.
Managing Director Jeff Horing says that while Insight isn’t likely to see a 20-30X return on a deal, it’s also not likely to lose a lot on a single deal. The firm’s investors have responded well to the safe strategy given the tough startup climate. Companies that raised large amounts of money a few years ago are now struggling or shutting down altogether. Many of Insight’s previous investors also invested in the new fund.
“We’re the lead-off hitter, not the home-run hitter,” Horing explained.
Insight makes 10-20 investments per year. Its portfolio includes crowdfunding company Indiegogo, mobile reader Flipboard, Twitter, Tumblr and Shutterstock, a photo company that recently went public.