VC Firm Insight Partners Confirms Personal Data Stolen During January Hack

Venture capital firm Insight Partners has confirmed that personal data was stolen during a cyberattack in January. The VC firm announced in an updated statement this week that it will alert an unspecified number of people whose information was compromised.

The company stated that the stolen data includes personal information about its current and former employees, as well as information relating to its limited partners – the investors who provide capital to Insight's venture funds but whose names are typically kept private. Additionally, the stolen data also includes information about certain funds, management companies, and portfolio companies, including banking and tax information.

This is the first time Insight has acknowledged that data was exfiltrated during the January cyberattack on the firm. Previously, the company attributed the hack to a “sophisticated” social engineering attack, but did not provide evidence for this claim.

The specific nature of the attack remains unclear, and a spokesperson for Insight Partners did not immediately return a request for comment. The VC firm has more than $90 billion in regulated assets under management, making it one of the largest tech startup investors in the world.

Insight Partners has helped to fund cybersecurity giants, including Wiz and Armis. This is not the first time a venture capital firm has experienced a cyberattack in recent years. In 2021, Silicon Valley venture firm Advanced Technology Ventures was hit by a ransomware attack that allowed criminals to steal data on the firm's limited partners.

With this latest confirmation, Insight Partners joins the growing list of venture capital firms that have been targeted by cyberattacks in recent years. As the VC industry continues to grow and evolve, it is becoming increasingly important for firms to prioritize cybersecurity and take proactive steps to protect their data and assets.