Insight Venture Partners snags $4.75 bln for two funds

Insight Venture Partners has raised a total of $4.75 billion for its ninth growth equity fund and its coinvestment vehicle, the firm announced today.

Insight Venture Partners IX LP closed at $3.29 billion while Insight Venture Partners Growth-Buyout Coinvestment Fund LP collected $1.46 billion. Both will focus on co-investing in software and internet companies.

The funds’ limited partners include return investors who provided the majority of the capital.

The firm’s previous growth equity fund, Insight Venture Partners VIII, closed at $2.57 billion in 2013. It generated an average IRR of 11.71 percent and an average multiple of 1.12x as of March 31, 2015, according to data provider Bison.

Since its founding 20 years ago, Insight Venture Partners has raised more than $13 billion and invested in more than 250 companies.

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