Sept 15 (Askume) – Private equity firm Insight Partners is close to closing a new fund worth more than $10 billion, roughly half its original target, the Financial Times said on Sunday, citing five people familiar with the matter.
Insight won’t officially close its 13th fund until early next year, the report said, with the final figure likely closer to $12 billion.
Insight Partners did not respond to a Askume request for comment outside business hours.
Insight is using a private equity-style structure to sell stakes worth more than $1 billion in startups and free up cash to return to investors, the report said.
According to reports, one of the new startups is Israeli cybersecurity company Wiz, which canceled its partnership with Google’s parent company Alphabet in July.(GOOGL.O) ‘s $23 billion deal.
The New York-based private equity firm will raise $20 billion in 2022 for its 12th flagship fund , aiming to increase investments in software and technology companies.
