Insight Misses Goal for Continuation Fund, Raising $1.3 Billion

Insight Partners, the venture giant with stakes in hundreds of technology companies worldwide, raised $1.3 billion in commitments for a continuation fund, missing a target of more than $2 billion.

The pool of cash will help extend the life of investments in the software sector across six of the firm’s funds, New York-based Insight said Thursday in an emailed statement, helping it to avoid having to sell stakes prematurely as the funds near maturity.

The final close of the continuation fund suggests that Insight’s investors, or limited partners, balked at the firm’s earlier valuation of the underlying assets, a ...