Summit Partners, a global growth equity private investment firm, has closed its latest flagship US growth equity fund, Summit Partners Growth Equity Fund XII (Summit XII), with $9.5bn in capital commitments five months after launching fundraising.
Consistent with the firm’s prior funds, the general partner will be the single largest investor in Summit XII.
Founded in 1984, Summit, which now managers more than $46bn in assets across its find complex, focusses on investments in key growth sectors, including technology, healthcare, financial technology and services, business services and consumer across both the US and Europe.
According to a press statement, Summit XII will “target majority and minority investments of $75m to $500m primarily in profitable, category-leading growth companies”.
