Insight Venture Partners Wins $1.2 Billion SimpleNexus Deal Suit

Tech venture Insight Venture Partners isn’t liable for investor losses following a deal between two fintech firms it held stakes in because the directors who made a money-losing deal were too independent of Insight, the Delaware Court of Chancery ruled Thursday.

Cloud-based banking software firm nCino’s $1.2 billion purchase in 2021 of app-based financial technology company SimpleNexus may have made Insight a 600% profit on the venture firm’s stake in SimpleNexus even as nCino’s shares plummeted after the purchase. But despite Insight’s large stakes in both companies, Insight isn’t liable for nCino shareholder losses because the board members executing the ...