JMI Equity Announces Closing Of Eleventh Growth Equity Fund At $2.4 Billion

By Amit Chowdhry ● Mar 20, 2023
  • JMI Equity announced it closed JMI Equity Fund XI, LP at $2.4 billion. These are the details.

JMI Equity, a growth equity firm focused on investing in leading software companies, announced the closing of JMI Equity Fund XI, L.P. (JMI XI) and JMI XI Executive Fund, L.P. with total commitments of $2.4 billion. This fund was oversubscribed, with demand exceeding the original $2 billion target, and received strong support from new and existing investors. JMI XI brings JMI’s total capital commitments to more than $8 billion since the firm’s inception in 1992.

Since JMI’s founding over 30 years ago, the firm has maintained its strategy of investing in high-growth B2B software companies and working closely with company management teams to build industry leaders. Over the past 3 years, the firm has invested in more than 30 cloud software companies and generated over $3.5 billion in realizations.

JMI and its portfolio companies are well-positioned to navigate the dynamic economic environment and the JMI team will continue partnering with its portfolio company management teams as they prioritize customer engagement, invest in product innovation, and ultimately establish market-leading companies. And JMI XI will make both minority and majority shareholder investments ranging from approximately $25 million to $250 million.

This fund will focus primarily on North American companies, often providing these companies with their first institutional capital. And to date, JMI XI has completed investments in three companies – Businessolver, Visiting Media, and Unanet.

JMI is co-led by Managing General Partners Harry Gruner (Founder) and Peter Arrowsmith. And
Proskauer Rose LLP served as legal counsel in the formation of JMI XI.

KEY QUOTE:

“We are grateful for the support of our long-standing investors and excited to welcome an array of new limited partners from around the globe. We look forward to continuing to partner with the next generation of software company founders, entrepreneurs, and management teams to help them navigate this evolving landscape and create businesses of enduring value.”

— Peter Arrowsmith