Growth equity software investor JMI equity has held the first and final close of JMI Equity Fund XII, which was significantly oversubscribed and capped at $3.1bn, approximately four months after its launch in March.
JMI XII brings the firm’s total capital commitments to more than $11bn.
JMI partners with B2B software companies, primarily throughout North America. The firm makes both minority and majority shareholder investments across sectors, including education, finance, insurance, legal services, healthcare IT, government, security, and more.
JMI XII will target investments ranging from approximately $40m to $400m+.
In conjunction with this milestone, JMI also announced the promotions of three members of its team: Preston Horner and Andy Knox to Principal, and Will Priestley to Vice President.
Since its founding in 1992, JMI has invested in more than 190 software companies and completed more than 120 exits totalling $11bn in distributions.
Proskauer Rose served as legal counsel in the formation of JMI XII.
