Insight Partners recently announced the closing of its Continuation Fund II with HarbourVest Partners and Lexington Partners leading a group of limited partners investing in the fund. The deal closed with total commitments of approximately $1.3 billion.
The Continuation Fund II was established to acquire stakes in software companies across 6 Insight funds for supporting their continued growth while providing liquidity to Insight’s Limited Partners (LPs). Insight had structured Continuation Fund II to include a true “status quo” option, which empowers LPs to choose whether they would participate in the transaction and take the liquidity or remain fully invested in the assets.
Insight Partners has a 28-year focus on finding, investing in, and scaling software companies with the support of its 140+ person operations team, Onsite, and a wide variety of funds that provides capital to meet individual growth needs, resulting in deep partnerships with companies at every stage of their ScaleUp journey – from startup to at scale.
KEY QUOTES:
“Insight’s Continuation Fund II is a vehicle we are proud to launch, allowing us to extend our relationship with portfolio companies from earlier funds while enabling us to provide the option of more near-term liquidity to our LPs. We are grateful for the shared conviction in the value of this portfolio with HarbourVest and Lexington and the continued commitment by a large portion of existing LPs in these specific assets. We look forward to working together to see these companies reach their fullest potential.”
— Ian Sandler, Managing Director and COO at Insight Partners
“HarbourVest is pleased to have expanded our long-standing partnership with Insight in co-leading the Continuation Fund II transaction. Our experience executing these creative secondary liquidity solutions, and Insight’s deep experience in the sector aligned well around this portfolio of high-quality software businesses.”
— Mike Pugatch, Managing Director at HarbourVest
“We are pleased to partner with Insight, with whom we have a long-standing relationship, to provide additional capital to maximize the value of this portfolio of companies. We believe this continuation vehicle offered strong alignment and a transparent option for investors to access liquidity.”
— Jennifer Kheng, Partner at Lexington Partners
