Insight Venture Buys Portfolio From Israel-Based Venture Firm Genesis Partners

New York-based venture capital and private equity firm Insight Venture Partners (listed as Insight Venture Management, LLC) has agreed to acquire the lion’s share of the portfolio of Israeli venture capital fund Genesis Partners’ fourth fund, Genesis Partners IV. The two firms announced the acquisition Tuesday. The financial terms of the deal were not disclosed.

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The partners of Genesis Partners will continue to serve on the boards of their respective investments, the firms said.

In a statement, Jeff Horing, co-founder and managing director of Insight Venture Partners, said the acquisition indicates Insight’s commitment to its existing portfolio and to regional innovation in Israel. Genesis Partners’ portfolio includes several startups that are also backed by Insight, including team management and productivity SaaS developer Monday.com Labs Ltd., which was founded in 2012 and has raised $84 million in total equity funding; business intelligence startup Sisense Ltd., whose September $80 million funding round brought its total funding raised to around $200 million; and music education startup JoyTunes Ltd.

Speaking last year at Calcalist's Mind the Tech conference in New York, Horing said that Israel is the highest-density geography in Insight Venture Partners’ portfolio.

Founded in 1995, Insight Venture Partners currently has over $20 billion in assets under management and has invested in more than 300 companies worldwide.

Genesis Partners is an early stage venture capital investor with $600 million in assets under management across four funds. Founded in 1996, Genesis backed startups such as Nasdaq-listed voice over IP company AudioCodes Ltd., Fintech company FundTech Ltd., 3D sensing company PrimeSense Ltd., and Nasdaq-listed solar energy company SolarEdge Technologies Inc.