Insight Venture Partners has closed a private equity fund with $2.57 billion in capital commitments.
Like the firm’s previous funds, the new fund, called Insight Venture Partners VIII, will invest in software, e-commerce, and internet and data-services businesses.
A majority of the fund is made up from commitments from existing investors. The fund can invest up to $300 million per deal.
Insight’s previous fund, which closed in 2010, has invested in more than 35 companies, including Airwatch, Kinnser Software and Drillinginfo. The company previously invested in ExactTarget Inc. (NYSE: ET) and Shutterstock Inc. (NYSE: SSTK), which both went public in 2012. Insight also backed Tumblr Inc., which is being acquired by Yahoo Inc. (Nasdaq: YHOO).
New York-based Insight is a private equity and venture capital firm started in 1995. Since it was founded, the firm has raised more than $7.6 billion and made more than 190 investments.