Insight Venture Partners, the NYC-based investment firm that has backed companies like Twitter, Chegg, Flipboard and HauteLook, this morning announced the closing of two new funds with a combined $2 billion in commitments.
One fund, Insight Venture Partners VII, has received approximately $1.5 billion of institutional commitments and roughly $70 million of additional affiliate and friend commitments. Insight Venture Partners Coinvestment Fund II, which the firm explains was established for co-investments in larger deals, received $450 million in commitments.
The significant majority of Insight’s existing investors committed capital to the new funds, which will enable the firm to invest up to $150 million per transaction.
Since its inception in 1995, Insight says it has received total commitments of more than $5 billion. Its most recent investment was announced last week, when we reported that the firm joined a $40 million round of financing for Israeli startup Wix.