Latest flagship fund brings total capital raised to more than $10.5 billion since the start of 2020
BOSTON, MA; MENLO PARK, CA; LONDON, UK – Summit Partners, a global alternative investment firm, today announced the first and final closing of its latest flagship U.S. growth equity fund. Launched in June 2021, Summit Partners Growth Equity Fund XI was significantly oversubscribed and closed at its hard cap with total commitments of $8.35 billion.
“With the closing of our latest fund, we will continue to pursue our growth equity strategy, serving as the partner of choice for category-leading growth companies and exceptional entrepreneurs within our sectors of focus. We are deeply grateful for the longstanding support of our limited partners and for their trust and confidence in our team and our strategy,” said Peter Chung, Managing Director and Chief Executive Officer of Summit Partners.
Summit’s 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 we believe are 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.
Summit Partners Growth Equity Fund XI will target minority and majority investments of $75 to $500 million primarily in profitable, category-leading growth companies, pursuing the growth equity strategy the firm pioneered in 1984. 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.
About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $42 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 500 companies in technology, healthcare and other growth industries. These companies have completed more than 175 public equity offerings, and more than 200 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 visit www.summitpartners.com
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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 Hanover Square, London, W1S 1JJ, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.