Insight Venture Partners is continuing its quest for the next great data services, eCommerce and software power players following the recent sale of Tumblr, raising more than $2.5 billion for a new fund called Insight Ventures Partners VIII, VentureBeat reports.
According to the media outlet, the New York-based VC firm will now be able to extend investments of $300 million in capital for minor and controlling investments in growth-stage to late-stage companies.
The source suggests the funding may benefit the local startup community, which was the location of the company’s most recent successful exit, Tumblr.
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