JMI Equity, a growth equity firm focused on investing in software companies, has closed the JMI Equity Fund XI, and JMI XI Executive Fund, with total commitments of $2.4 billion. The fund was oversubscribed, with demand exceeding the original $2 billion target.
JMI Equity (JMI), a growth equity firm focused on investing in software companies, has closed the JMI Equity Fund XI, and JMI XI Executive Fund, with total commitments of $2.4 billion. The fund was oversubscribed, with demand exceeding the original $2 billion target.
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 three years, the firm has invested in more than 30 cloud software companies and generated over $3.5 billion in realisations, according to a press statement.
JMI XI will make both minority and majority shareholder investments ranging from approximately $25 million to $250 million. The fund will focus primarily on North American companies, often providing these companies with their first institutional capital. To date, JMI XI has completed investments in three companies – Businessolver, Visiting Media, and Unanet.
Proskauer Rose LLP served as legal counsel in the formation of JMI XI.
