Insight Partners, a NYC-based global venture capital and private equity software investor, has raised and deployed a $15M fund to invest in diverse-led, early-stage funds.
Vision Capital 2020 Limited Partner Fund (Vision Capital 2020), which was raised entirely through capital commitments from senior partners of Insight, seeks to address the industry’s pipeline problem by providing capital to diverse managers as an effective action to help close the industry’s diversity gap.
The current venture capital industry sees 93% of VC dollars managed by white males, 3% by white females, and <1% managed by other diverse groups including Black and LatinX investors of both genders. Vision Capital 2020 supports funds led by General Partners (GP) identifying as Black, Latinx, female or LGBTQ+, who are raising a first or second fund.
As a limited partner in these funds, Vision Capital 2020 supports a diverse slate of investors who provide growth and seed capital to companies in the US and abroad.
After launching a diligence process that tracked more than 250 funds, Vision Capital 2020 made investments in 12 funds including January Ventures, Cake Ventures, Chingona Ventures, Fearless Fund, Footwork Capital, Harlem Capital, Maple VC, NOEMIS Ventures, RareBreed Ventures, Precursor Ventures, and Ulu Ventures.
Across the 12 funds, GP leadership is 83% Black or Latinx, 39% female, and 42% first-time funds. Vision Capital 2020 is, as of today, fully invested, and Insight will provide general guidance and professional mentoring to GPs as part of Insight’s ongoing commitment to increasing diversity in the software and venture capital industry.
Funds and investors looking to learn more can contact [email protected].
FinSMEs
22/06/2021