TEL AVIV (Reuters) – Insight Venture Partners, a venture capital and private equity firm based in New York, said on Tuesday it will acquire the majority of the portfolio of Israeli venture capital fund Genesis Partners IV.
Financial details were not disclosed.
As a result of the deal Insight will absorb 11 Israeli investments, including three in companies that are also in Insight’s portfolio — Sisense, monday.com and JoyTunes.
“Insight’s transition will provide our companies with a longer funding horizon to realise their full potential, while delivering liquidity to our long-standing investors,” said Eyal Kishon, co-founder and managing partner at Genesis.
Insight has over $20 billion of assets under management and has invested in more than 300 companies. Genesis, which is focused on early stage startups, manages over $600 million across four funds.
Source: Read Full Article