Insight Partners, the global software investor, has recently raised its second fund, Insight Vision Capital II (Fund II), with $118 million in capital commitments. This new fund is focused on investing in diverse-led, top-tier early-stage funds. It follows the success of their first $15 million Fund I, which was raised solely through capital commitments from Insight’s senior partners (Insight GPs) and deployed over the last two years.
The $118 million Fund II includes capital from Insight’s GPs and institutional Limited Partners, such as Massachusetts Pensions Reserves Investment Management Board (MassPRIM), Pennsylvania Public School Employees’ Retirement System (PSERS), Teachers’ Retirement System of the State of Illinois, New York State Common Retirement Fund (NYSCRF), and Alberta Investment Management Corporation (AIMCo). These institutional investors are seeking attractive returns from early-stage funds led and founded by diverse fund managers.
20/20 Vision Capital Fund II has already made commitments to various funds managed by Act One Ventures Management, L.L.C., Hannah Grey Ventures, LLC, F7 Ventures LLC, SH Fund Management, LLC, Wischoff Ventures, Ansa Capital Management, LLC, Vesey Ventures, Springbank Collective, and Mastry Ventures, many of which are first-time funds. Fund I had invested in 14 funds, including those managed by Maple VC Management, LLC, Noemis Ventures Management, LLC, and Precursor Ventures Management, LLC, among others. Fund II has also made commitments to successor funds of some of these initial investments.
A significant focus of the 20/20 Vision Capital program is to support underrepresented fund managers who are well-positioned to provide attractive returns due to their unique perspectives and startup networks. Insight Partners strongly believes that partnering with and investing in these GPs is not only a lucrative investment opportunity but also a means to drive diversity in the venture capital industry.
Richard Wells, Managing Director at Insight Partners, expressed enthusiasm for Fund II and its potential impact on the technology investing landscape. He emphasized the goal of enabling fund managers to access institutional capital independently.
Michael Trotsky, CFA, Executive Director and Chief Investment Officer of MassPRIM, reiterated the commitment to fostering diversity in the investment landscape and expressed excitement for partnering with Insight on this initiative.
Born amid the global pandemic and heightened social unrest in 2020, 20/20 Vision Capital actively supports fund managers from inception. They offer strategic programming, advisory support, and access to Insight’s extensive GP connections and additional investors. Over the past two years, Insight’s dedicated team has facilitated in-person events, such as roundtables and networking sessions, contributing to the success of the fund managers. The strong partnerships have led to additional investments, highlighting the focus on long-term growth and performance of the fund managers.