Summit Partners, a global growth equity investment firm, has announced the closure of its latest flagship U.S. growth equity fund. Summit Partners Growth Equity Fund XII began raising capital in late April 2024 and closed approximately five months later with $9.5 billion in capital. As with the company’s previous funds, the general partner will be Summit XII’s largest investor.
Summit’s global team includes more than 100 investment professionals with deep expertise in key growth areas including technology, healthcare, financial technology and services, business services, and consumer. The team also collaborates between offices in the U.S. and Europe, leveraging 40 years of industry experience to partner with executive and management teams to support the profitable growth of the businesses they lead.
As an active board member and through the company’s value enhancement specialist team, Peak Performance Group, Summit is responsible for revenue optimization, digital marketing, human capital strategy, capital markets, technology and data science.
This year, Summit Partners celebrated 40 years of growth investing. With this new fund, the company will execute on the strategy pioneered in 1984, and the team will continue to innovate and refine its approach to supporting the growth of partner businesses. Summit XII targets majority and minority investments ranging from $75 million to $500 million, primarily in growth companies leading in profitable categories. With this new capital, Summit now manages more than $46 billion in assets across its fund complex.
Main quotation:
“We are deeply grateful for the long-term support of our existing limited partners and are pleased to welcome several new investors. With the exit of our latest flagship fund, we continue to develop our growth equity investment strategy. We believe this strategy is timeless and time-tested, and that profitable growth provides superior risk adjustment throughout market and business cycles. We are the partner of choice for category-leading growth companies in technology, healthcare, and growth products and services. We look forward to serving our limited partners and portfolio companies.”
– Peter Chung, Managing Director and CEO, Summit Partners
