Insight Partners Announces $118M Fund II for 20/20 Vision Capital

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Jul 06, 2023, 10:00 ET

Fund II Highlights Both Insight Partners' and Institutional LPs' Commitment to Supporting Underrepresented Fund Managers

NEW YORK, July 6, 2023 /PRNewswire/ -- Global software investor Insight Partners today announced it has raised Insight Vision Capital II, L.P. (Fund II), its second 20/20 Vision Capital fund with $118M of capital commitments to invest with a focus on diverse-led, top-tier, early-stage funds. This follows on the heels of the first 20/20 Vision Capital $15M Fund I, raised entirely through capital commitments from senior partners of Insight (Insight GPs), which launched and deployed in the last two years. The $118M Fund II, a dedicated additional fund raised in this space, includes the capital of both Insight's GPs and institutional Limited Partners, including Massachusetts Pensions Reserves Investment Management Board (MassPRIM), Pennsylvania Public School Employees' Retirement System (PSERS), Teachers' Retirement System of the State of Illinois, New York State Common Retirement Fund (NYSCRF) and Alberta Investment Management Corporation (AIMCo). These institutional investors are seeking returns from early-stage funds led and founded by diverse Fund managers.

20/20 Vision Capital Fund II has made commitments to funds managed by Act One Ventures Management, L.L.C., Hannah Grey Ventures, LLC, F7 Ventures LLC, SH Fund Management, LLC, Wischoff Ventures, Ansa Capital Management, LLC, Vesey Ventures, Springbank Collective, and Mastry Ventures, some of which are first time funds. This follows 20/20 Vision Capital Fund I investment into 14 funds, including funds managed by Maple VC Management, LLC, Noemis Ventures Management, LLC, and Precursor Ventures Management, LLC, among others, and Fund II has already made commitments to the successor funds of some of these initial funds. Across Fund I and II, 68% are led by first-time fund managers, 60% are led by women and 64% are led by Black and/or Latine fund managers.

From its inception, 20/20 Vision Capital's premise has been that underrepresented fund managers are competitively positioned to provide attractive returns, as they possess differentiated perspectives and startup networks. Insight Partners believes that partnering with, and investing with, these GPs is both an attractive investment opportunity and an effective way to bring much needed diversity to the venture capital industry. Fund II reinforces that this is an enduring program that is expected to drive strong returns and impact for the long term.

"Participating Insight LPs similarly recognized the opportunity and mission of 20/20 Vision Capital and have now joined us for a second effort with Fund II. We all understand the long-term impact these up-and-coming investors have on the industry," said Richard Wells, Managing Director at Insight Partners. "20/20 Vision Capital's goal is for the fund managers to directly access institutional capital on their own and we're thrilled to make Fund II part of the technology investing landscape."

"MassPRIM is committed to fostering diversity within the investment landscape, and we believe one of the best ways to do that is to invest in funds led by underrepresented investors and managers," said Michael Trotsky, CFA, Executive Director, and Chief Investment Officer of MassPRIM. "We are excited to partner with Insight on this initiative, and we hope that the emerging funds that Vision Capital invests in grow to become a fit for MassPRIM to invest in directly over time."

Born in 2020 during the global pandemic and heightened social unrest, 20/20 Vision Capital supports managers from inception, allowing fund managers to utilize Insight's GP connections, gain exposure to additional investors and have access to strategic programming, such as advisory support and briefing sessions on the state of the industry. Over the past two years, Insight's dedicated team has hosted a variety of curated in-person events, including roundtables and networking sessions to contribute to the success of the fund managers. Due to these close partnerships, 20/20 Vision Capital has been able to engage in additional investments, further showing the focus on long-term growth and performance of the fund managers.

"With our 27-year investment perspective we recognized that the problem wasn't a shortage of minority founders, but rather a shortage of funds investing in them at the critical pre-seed through Series A-B stage. 20/20 Vision Capital has been able to directly address this problem by investing with diverse GPs who in turn have the opportunity to identify and invest in diverse founders," said Dionne Chingkoe, Managing Director at Insight Partners. "Since we began investing more than two years ago, many of our fund managers are already seeing positive results and all are showing promise. We're optimistic about 20/20 Vision Capital's continued success."

About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of December 31, 2022, the firm has over $75B in regulatory assets under management. Insight Partners has invested in more than 750 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with right-sized, right-time practical, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.

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SOURCE Insight Partners