Benzinga | Feb 16, 2021 07:38AM EST

Tech Focused Insight Partners Seeks To Raise $12B For Next Fund: WSJ

* New York-based private investment firm Insight Partners plans to raise at least $12 billion for its next flagship fund, the Wall Street Journal reports.

* The fundraising is slated to begin next month to tap the growing market for software collaboration tools and cloud, which was further fueled by the pandemic.

* Previously, Insight Partners raised $9.5 billion within less than a year for Insight Partners XI.

* It is also planning to raise $875 million for its first fund focused on preferred equity investments.

* The firm provides equity financing between $10 million and $350 million for technology companies, especially software companies including software-enabled services and internet companies with subscription-based business models with robust recurring revenue generation potential.

* Most recently, Insight Partners acquired Corelogic Inc (NYSE:CLGX) for $6 billion.