Insight Partners Announces Closing of Continuation Fund III with HarbourVest Partners as Lead Investor

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Oct 15, 2024, 08:00 ET

NEW YORK, Oct. 15, 2024 /PRNewswire/ -- Global software investor Insight Partners today announced the successful closing of Continuation Fund III, with HarbourVest Partners leading a group of limited partners (LPs) investing in the fund. The fund closed with total commitments of approximately $1.5 billion.

Reflecting Insight's nearly 30-year commitment to partnership and flexibility, Insight's Continuation Fund III was established to acquire stakes in notable software companies across multiple Insight funds, further enabling their growth while providing liquidity options for Insight's existing LPs. Insight's Continuation Funds are leveraged alongside a range of liquidity tactics and offer a flexible solution, allowing LPs the choice to take liquidity and lock in returns or continue their exposure to those assets.

Developed by Insight's dedicated Liquidity Committee and executed in partnership with HarbourVest, Continuation Fund III has been designed, from asset selection and pricing to fund terms and ongoing management, to prioritize returns and optionality for Insight's LPs.

"Continuation Fund III allows Insight to continue to deepen our partnership with a group of high-performing software companies, while offering flexibility to our valued LPs. In an overall private equity environment of limited liquidity, we're proud to be able to provide this option and returns," said Ian Sandler, COO at Insight Partners. "We're thrilled to work alongside HarbourVest once again, whose continued commitment reflects a shared belief in the value and potential of this portfolio, making them ideal collaborators for this transaction."

"HarbourVest is excited to again be a lead partner with Insight Partners and further our 20+ year relationship, providing a scaled and bespoke secondary solution," said Abuzar Anaswala, Principal, HarbourVest Partners. "This deal is one of our largest GP-led transactions in our firm's history and aligns with our strategy of investing with the top performing managers on market-leading assets."

Evercore acted as financial adviser and Willkie Farr & Gallagher LLP served as legal counsel to Insight Partners.

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 June 30, 2024, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 800 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 the Bay Area. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with tailored, 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 X @insightpartners.

About HarbourVest

HarbourVest is an independent, global private markets firm with over 42 years of experience and more than $127 billion of assets under management as of March 31, 2024. Our interwoven platform provides clients access to global primary funds, secondary transactions, direct co-investments, real assets and infrastructure, and private credit. Our strengths extend across strategies, enabled by our team of more than 1,200 employees, including more than 230 investment professionals across Asia, Europe, and the Americas. Across our private markets platform, our team has committed more than $59 billion to newly-formed funds, completed over $55 billion in secondary purchases, and invested over $40 billion directly in operating companies. We partner strategically and plan our offerings innovatively to provide our clients with access, insight, and global opportunities.

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SOURCE Insight Partners