The Insight Partners investor behind HelloFresh and Trivago is leaving the firm to start a new $600 million fund

Insight Partners

• Insight Partners principal Harley Miller is leaving the firm to launch a new fund, sources familiar with the matter told Business Insider.
• Miller is an early-stage investor with investments in HelloFresh, the Calm app, and the since-acquired Trivago. In January, he led an investment in the Farmer’s Dog, a subscription service that makes personalized meals for dogs.
• The new fund is looking to raise around $600 million, and Insight is involved as a limited partner, the people said.
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Insight Partners principal Harley Miller is leaving the New York-based firm to launch a new fund, according to three people familiar with the matter.

Insight is a limited partner in the new fund, which is trying to raise around $600 million, the people said.

Miller, who joined Insight in 2010, is an early-stage investor in the German meal kit company HelloFresh, the fintech company N26, meditation app Calm, online learning platform Udemy, and French carpooling marketplace Blablacar. 

In January, he led a $39 million Series B in the Farmer’s Dog, a subscription service that makes personalized meals for dogs.

It’s unclear what the focus of the new fund will be, though sources said Miller will likely keep doing early-stage investing. 

Miller and Insight Partners did not respond to requests for comment.

Last June, Insight raised a $6.3 billion Fund X, with the majority of that capital coming directly from Insight’s general partners.

The team put its capital to work last week with a massive $200 million Series A funding round for the privacy startup OneTrust. That round, led by Insight, valued the three-year-old company at $1.3 billion 

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Source: Business Insider – bpeterson@businessinsider.com (Becky Peterson)