The other, Own, a startup specializing in tools for backing up data in cloud-based applications, sold to Salesforce for $1.9 billion, roughly half the $3.5 billion valuation it was assigned by investors in 2021.
Insight, which is headquartered in New York and whose current portfolio includes the buzzy cybersecurity outfit Wiz, may ultimately close its new fund with roughly $12 billion, says the FT. That’s a big number but still far less than the $20 billion that Insight announced for its 12th fund in 2022, when fundraising was in overdrive across the venture industry.