New York-based venture capital firm Insight Venture Partners has closed two funds with aggregate commitments of $2bn.
Insight Venture Partners VII has received approximately $1.5bn of institutional commitments, along with about $70 million of affiliate and friend commitments
A smaller fund, Insight Venture Partners Co-investment Fund II, which will make co-investments in larger deals, and has received $450m in commitments.
Fund VII will invest up to $150m per transaction and, like Insight’s earlier funds, will seek controlling or minority stakes in software and internet services companies.
The significant majority of Insight’s existing investors committed capital to the new funds, the firm said in a statement.
Microblogging service Twitter is a current Insight portfolio company, while past exits include picture sharing service Photobucket, which was sold to MySpace in 2007 for around $250m.
US venture firm Bessemer Capital has just closed its largest ever fund on $1.6bn.
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