Global growth equity investment firm Summit Partners announced the closing of its latest flagship U.S. growth equity fund. Summit Partners Growth Equity Fund XII launched fundraising in late April 2024 and held its closing after approximately five months with $9.5 billion in capital. Consistent with the firm’s prior funds, the general partner will be Summit XII’s largest investor.
Summit’s global team includes over 100 investment professionals with deep domain knowledge within key growth sectors, including technology, healthcare, financial technology and services, business services and consumer. And the team works collaboratively across offices in the U.S. and Europe, leveraging four decades of industry experience to partner with executives and management teams and help support the profitable growth of the businesses they lead.
As active board members and through the Peak Performance Group, the firm’s dedicated value enhancement team, Summit provides strategic resources designed specifically to provide expertise in areas the firm believes are critical to promoting long-term, profitable growth, including revenue optimization, digital marketing, human capital strategy, capital markets, and technology and data science.
This year, Summit Partners celebrated 40 years of growth investing. With this new fund, the firm will execute the strategy it pioneered in 1984, even as the team continues to innovate and refine its approach to supporting the growth of the businesses with which it partners. Summit XII will target majority and minority investments of $75 to $500 million primarily in profitable, category-leading growth companies. With this new capital, Summit is now managing over $46 billion in assets across its fund complex.
KEY QUOTES:
“We are deeply grateful for the longstanding support of our existing limited partners and are pleased to welcome several new investors. With the closing of our latest flagship fund, we will continue to execute our growth equity investing strategy. This strategy, which we believe is both timeless and time-tested, is grounded in our foundational belief that profitable growth is the most reliable source of superior risk-adjusted returns through market and economic cycles. We look forward to serving our limited partners and our portfolio companies as the partner of choice for category-leading growth companies in the technology, healthcare, and growth products and services sectors.”
-Peter Chung, Managing Director and Chief Executive Officer of Summit Partners
