July 6 (Reuters) - Global tech investor Insight Partners has raised $118 million in its second 20/20 Vision Capital fund that aims to invest in venture capital funds led by diverse managers, the firm told Reuters.
This new fund expands a strategy Insights first started in 2020, after its own employees pledged $15 million of their personal capital to diverse early-stage fund managers.
The environment is especially challenging for first-time fund managers.
Funds including Ansa Capital Management, Hannah Grey Ventures, and Wischoff Ventures have already received backing from the Vision Capital II.
Richard Wells, Managing Director at Insight Partners, said it's too early to measure fund I returns, as seed investment is a long-term game.
Persons:
Dionne Chingkoe, Hannah Grey, Richard Wells, it's, Wells, Krystal Hu, Chizu
Organizations:
Global, Partners, Vision Capital, Reuters, Vision, Insight Partners, Investment Management Board, Pennsylvania Public School, New, The, Ansa Capital Management, Hannah Grey Ventures, Wischoff Ventures, ”, Thomson
Locations:
Massachusetts, New York, The U.S