- Venture firm Spectrum Equity recently announced the closing of Spectrum Equity IX L.P. at a hard cap of $1.5 billion
Venture firm Spectrum Equity recently announced the closing of Spectrum Equity IX L.P. at a hard cap of $1.5 billion. And Spectrum also closed its second Discretionary Overage Program at $150 million, which enables the firm to pursue larger transactions or follow on investments opportunistically.
Spectrum Equity focuses exclusively on investments in Internet-enabled software and information services companies. And similar to Spectrum’s prior funds, Fund IX will provide capital to companies with proven and scalable business models and which exhibit high growth with persistent customer relationships. Plus
Spectrum makes growth equity investments ranging in size from $25 million to $150-plus million in a mix of control and minority transactions. And Spectrum is the lead investor in capital-efficient companies operating in industry verticals in which the firm has developed deep domain expertise and an established track record.
“We deeply appreciate the continued support from our investors. We believe the strong demand for Fund IX reflects confidence in our commitment to proactive origination, our focus on resilient, highly recurring revenue businesses and the ability to produce distinctive returns over many cycles. And in times of macroeconomic uncertainty like the present, we rely on the consistent execution of our growth equity investment strategy more than ever,” said Spectrum Equity’s heads Vic Parker, Chris Mitchell and Ben Spero. “For over 25 years, our specialized investment approach has resonated with world-class founders and entrepreneurs. Our partnerships with portfolio company management teams serve as the foundation to the success of our value creation efforts. We are grateful that they continue to entrust us to support their next stage of growth and navigate unforeseen challenges that may arise.”
Some of the firm’s representative investments include Ancestry, Bats Global Markets, Definitive Healthcare, GoodRx, Grubhub, Lucid, Lynda.com, SurveyMonkey, The Knot Worldwide, and Verafin.
Proskauer had served as fund counsel.
