New York powerhouse VC Insight Partners has secured another $12.5 billion after $8 billion in exits

Jeff Horing’s Insight Partners is to New York venture capital what Andreessen Horowitz and Sequoia are to Silicon Valley. It’s a situation reinforced by Insight’s recent closure.

As expected, Insight Partners Announce On Thursday, it closed another giant flagship fund, known as Fund XIII, along with Opportunity Fund II, totaling $12.5 billion in new capital. An opportunity fund is generally money that is set aside to reinvest in existing portfolio companies when they raise new rounds.

In September, it was rumored to be a success On a $10 billion fund. Insight clearly achieved this goal, and more. With this fund it now has $90 billion in assets under management.

An Insight spokesperson declined to say how many billions are in each new fund, but a portion of the money is also in what it calls a “buyout mutual fund.” The money will be used for acquisition software investments, a well-established area for the 30-year-old company, the spokesman said.

This rise indicates that Insight has no intention of ceding the top spot to New York-based VC startup Thrive. In 2024, she led Josh Kushner’s Thrive and co-led several of the largest deals from OpenAI $6.6 billion round to Anysphere’s $100M Series B, AI programming assistant cursor maker.

Insight does not cede any ground. For example, a VC firm Won co-leadership of Databricks A record $10 billion fundraising deal in December, along with Thrive. It tapped money from Partners Public Equity to do this, a fund set up to buy public stocks. This new capital will help it pursue, and perhaps even lead, more deals.

Interestingly, in a year where the IPO market means delayed returns for many venture capital firms, Insight said it has performed well with its portfolio companies recording more than $8 billion on exits in 2024, largely through acquisitions. . These included the future registered to Mastercard for $2.65 billionthe property of Salesforce for $1.9 billionwalk to SAP for $1.5 billionand Gamma software for Private equity worth $1.2 billion.