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

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

– Insight Partners announced the successful closing of Continuation Fund III with HarbourVest Partners leading a group of limited partners (LPs) investing.

– The fund closed with total commitments of approximately $1.5 billion.

– Continuation Fund III was established to acquire stakes in notable software companies across multiple Insight funds.

– The fund provides liquidity options for existing LPs and enables further growth for portfolio companies.

– Insight’s Liquidity Committee designed and executed the fund in partnership with HarbourVest, prioritizing returns and optionality for LPs.

– The fund allows LPs to either take liquidity and lock in returns or continue their exposure to assets.

Ian Sandler, COO at Insight Partners, highlighted the flexibility the fund offers to LPs in a liquidity-constrained private equity environment.

– HarbourVest views this transaction as one of their largest GP-led deals and aligns with their strategy of partnering with top-performing managers on market-leading assets.

Abuzar Anaswala, Principal at HarbourVest stated: “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.”

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