BOSTON, MA; MENLO PARK, CA – Summit Partners, a global alternative investment firm, today announced the first and final closing of its latest flagship U.S. growth equity fund, Summit Partners Growth Equity Fund X. The oversubscribed fund, which was launched in the fourth quarter of 2018, closed at its hard cap with total commitments of $4.9 billion. The general partner has committed $400 million of this total and will be the single largest investor in the fund.
“We are deeply grateful for the longstanding trust and support of our limited partners,” said Peter Chung, Managing Director and Chief Executive Officer of Summit Partners. “With our latest U.S. growth equity fund, our strategy remains focused on serving as the partner of choice for best-in-class growth companies identified through our unique idea generation process and deep sector expertise. We intend to continue serving founders and executives teams with our industry experience and our platform of value enhancement services built specifically to support the needs of growth companies.”
Summit Partners Growth Equity Fund X will target minority and majority investments of $75 to $300 million in category-leading growth companies, pursuing the growth equity strategy the firm pioneered in 1984. Summit seeks to partner with exceptional entrepreneurs and management teams and deliver post-investment support to accelerate growth and enhance value.
Summit’s global team of more than 100 investment professionals works collaboratively and cohesively 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 products and industrial technology. The Summit team provides active board-level support, as well as specialized in-house resources dedicated to serving the needs of growth companies. Summit’s Peak Performance Group, Capital Markets Team and Talent & Recruiting Team offer on-demand services to Summit’s portfolio companies to support and accelerate their growth initiatives.
With Growth Equity Fund X, Summit is currently managing more than $19 billion in capital across its growth equity, fixed income and public equity strategies. Since its inception in 1984, Summit Partners has raised more than $27 billion.
About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $19 billion in capital dedicated to growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 475 companies in technology, healthcare and other growth industries. These companies have completed more than 140 public equity offerings, and more than 190 have been acquired through strategic mergers and sales. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, please see www.summitpartners.com or on Twitter at @SummitPartners.
In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners LLP, a firm authorized and regulated by the Financial Conduct Authority. Summit Partners LLP is a limited liability partnership registered in England and Wales with registered number OC388179 and its registered office is at 11–12 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.