Venture capital giant Insight Partners hit by cyberattack

New York-based venture capital and private equity firm Insight Partners has disclosed that its systems were breached in January following a social engineering attack.

The company manages over $90 billion in regulatory assets and has invested in over 800 software and technology startups and companies worldwide during its 30 years of activity.

In a statement released Tuesday, the firm said some of its information systems were breached on January 16 through "a sophisticated social engineering attack."

After discovering the breach, Insight Partners notified law enforcement in relevant jurisdictions and hired third-party cybersecurity experts to investigate its impact.

"As soon as this incident was detected, we moved quickly to contain, remediate, and start an investigation within a matter of hours," it said. "We notified stakeholders connected to Insight in January to alert them and encourage vigilance and tightened security protocols irrespective of having shared data compromised."

Insight Partners added that no evidence was found that the attackers maintained access to its network after their presence was discovered. While it didn't provide information on any operational disruptions, the company said, "there has been no additional disruption to Insight's operations as a result of the incident."

Insight Partners has yet to share more information on the nature of the attack and whether company or partner data was accessed or stolen in the breach.

"We are working diligently to determine the scope of the incident with the support of third-party cybersecurity experts, a leading forensic and eDiscovery expert, and external legal counsel which, as shared with stakeholders, will take several weeks," the company added.

"We don't believe, based on what is known, there will be any material impact on portfolio companies, Insight funds or other stakeholders. Insight will update any impacted individuals once information becomes available during our investigation."

An Insight Partners spokesperson was not immediately available for comment when contacted by BleepingComputer earlier today.