Insight Partners Raises $12.5 Billion for New Flagship Fund

Insight Partners, a New York-based venture capital and private equity firm, has raised $12.5 billion for its 13th flagship fund — a large sum that was reduced from an even larger target.

The fundraising is particularly notable because of the difficult environment for VC firms. “It definitely was the hardest fundraise that I have been involved in at Insight,” said Managing Director Deven Parekh. Initially, the firm had targeted $20 billion for the fund.

The new investment vehicle is one of the biggest in the industry dedicated to technology bets, despite the reduction. The firm, known for early stakes in Shopify Inc. and Docusign Inc., ...