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Laxman Pai, Opalesque Asia:

Global software investor Insight Partners has closed its third continuation fund at about $1.5 billion. The fund was developed by the firm's liquidity committee and executed in partnership with HarbourVest Partners.

The $80 billion global venture capital and private equity firm, an early backer of technology companies that include social-media platform formerly known as Twitter and Chinese e-commerce giant Alibaba Group, Continuation Fund III Continuation Fund III to acquire stakes in multiple software companies held by older funds under its own management, the firm.

The investment firm said in a media release that the Continuation Funds are leveraged alongside a range of liquidity tactics and offer a flexible solution, allowing LPs the choice to take liquidity and lock in returns or continue their exposure to those assets.

"Continuation Fund III allows Insight to continue to deepen our partnership with a group of high-performing software companies while offering flexibility to our valued LPs. In an overall private equity environment of limited liquidity, we're proud to be able to provide this option and returns," said Ian Sandler, COO at Insight Partners.

"We're thrilled to work alongside HarbourVest once again, whose continued commitment reflects a shared belief in the value and potential of this portfolio, making them ideal collaborators for this transaction," Ian added.

"HarbourVest is excited to be a lead partner ......................

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