Insight Ventures Partners, a global venture capital firm based in New York City announced the acquisition of a majority of Israeli VC fund’s Genesis Partners IV portfolio.
Genesis Partners’ portfolio includes several high-profile companies that are also in Insight’s existing portfolio, including monday.com, Sisense, and JoyTunes.
Dr. Eyal Kishon, Eddy Shalev, Jonathan Saacks and Gary Gannot of Genesis Partners will continue to serve on the boards of their respective investments, according to the agreement.
Jeff Horing, co-founder and managing director at Insight Venture Partners said the acquisition “signifies Insight’s deep commitment to our existing portfolio in Israel, as well as innovation in the region at large.”
“Genesis Partners has built a strategic portfolio that has evolved to align with Insight’s growth – stage focus. Software by nature allows businesses to operate as truly global entities across sectors and industries, and we are thrilled to double down on our roots and open new doors for opportunity in the EMEA region through this acquisition.”
“Israeli founders and companies strive to become independent, long-term world leaders in their respective fields. Doing so requires a big vision and a long-term perspective,” said Kishon, Genesis Partners’ co-founder and managing partner.
“We strongly believe that this change of ownership is in the best interest of the companies that we have invested in. Insight’s transition will provide our companies with a longer funding horizon to realize their full potential while delivering liquidity to our long-standing investors.”
“As an early stage and seed fund, we have placed a huge effort on supporting our portfolio companies to the point where they reached a high level of maturity and total value that represents an ideal outcome with a great return to our investors,” said Shalev. “We look forward to the success this next chapter will bring our portfolio.”