Summit Partners, a global alternative investment firm, closed its latest flagship U.S. growth equity fund, at $8.35 Billion.
Launched in June 2021, Summit Partners Growth Equity Fund XI will target minority and majority investments of $75 to $500 million primarily in profitable growth companies, pursuing the growth equity strategy the firm pioneered in 1984.
Led by Peter Chung, Managing Director and Chief Executive Officer, Summit Partners has a global team of more than 100 investment professionals works collaboratively across offices in the U.S. and Europe to partner with growth companies in key industry sectors, including technology, healthcare, financial technology and services, consumer and e-commerce, and business services. As active board members and through dedicated value enhancement teams, Summit offers strategic support to portfolio company leaders focused on areas critical to accelerating and supporting long-term, profitable growth, including revenue optimization, digital marketing, human capital strategy, capital markets expertise and technology and data science.
This flagship fund follows the close of two 2020 vintage growth equity funds with more than $2.2 billion in capital:
- Summit Partners Europe Growth Equity Fund III, which targets equity investments between €20 and €80 million in Europe-based companies, and
- Summit Partners Venture Capital Fund V, which targets equity investments of $10 to $60 million in growth stage companies based primarily in North America.
Since the firm’s inception in 1984, Summit has raised more than $43 billion in capital across its growth equity, fixed income and public equity strategies. The firm has offices in Boston, MA, Menlo Park, CA and London, UK.