Willkie represented Insight Venture Partners in the closing of its largest fund to date, which will be used to further its leading growth equity technology investment engine.
On July 19, Willkie client Insight Venture Partners, a leading global private equity and venture capital firm, announced the close of its Fund X at $6.3 billion, the firm's largest to date. The oversubscribed fund will be used to further its leading growth equity technology investment engine. With the close of the new fund, Insight has a total of over $23 billion under management.
Since inception in 1995, Insight has seen its software-focused investment strategy drive increasing impact in the technology sector. The firm currently has more than 150 portfolio companies, has overseen more than 225 M&A transactions and has participated in more than 40 IPOs. In the first six months of 2018, three of the top 10 highest valued US venture-backed companies that went public were Insight portfolio companies. Insight has cumulatively invested in more than 300 companies worldwide.
Insight’s Fund X follows the firm's previous Fund IX and related growth buyout fund, which closed in 2015 at approximately $5 billion. Willkie advised Insight on the closing of Fund IX as well.
In 2018 alone, Willkie represented Insight and its portfolio companies in connection with Illuminate Education’s multi-party merger, Insight’s growth equity investment in Jama Software, TriTech’s recapitalization, the sale of BMC Software, the sale of Virgin Pulse, Insight’s investment in CentralReach and Insight’s acquisition of Property Brands, among other transactions.
The Willkie team on the current transaction was led by partners Gordon Caplan and Arash Farhadieh, and included partner Hillel Jacobson and counsel Daniel Mencaroni.