Summit Partners raises $8.35 billion for its 11th fund to provide growth capital for startups and entrepreneurs

Summit Partners, a global alternative investment firm, announced today it has raised $8.35 billion for its latest flagship U.S. growth equity fund. The Summit Partners Growth Equity Fund XI was launched in June 2021.

Summit said the latest fund will target minority and majority investments of $75 to $500 million primarily in profitable, category-leading growth companies, pursuing the growth equity strategy the firm pioneered in 1984.

The announcement of Fund XI follows the close of two 2020 vintage growth equity funds with more than $2.2 billion in the capital: Summit Partners Europe Growth Equity Fund III, which targets equity investments between €20 and €80 million in Europe-based companies, and Summit Partners Venture Capital Fund V, which targets equity investments of $10 to $60 million in growth-stage companies based primarily in North America.

“With the closing of our latest fund, we will continue to pursue our growth equity strategy, serving as the partner of choice for category-leading growth companies and exceptional entrepreneurs within our sectors of focus. We are deeply grateful for the longstanding support of our limited partners and for their trust and confidence in our team and our strategy,” said Peter Chung, Managing Director and Chief Executive Officer of Summit Partners.

Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $42 billion in capital dedicated to growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 500 companies in technology, healthcare, and other growth industries. Summit has offices in North America and Europe and invests in companies around the world

Some of the companies Summit Partners invested in have completed more than 175 public equity offerings, and more than 200 have been acquired through strategic mergers and sales. Since the firm’s inception in 1984, Summit has raised more than $43 billion in capital across its growth equity, fixed income, and public equity strategies.

Summit’s global team of more than 100 investment professionals works collaboratively across offices in the U.S. and Europe to partner with growth companies in key industry sectors, including technology, healthcare, financial technology and services, consumer and e-commerce, and business services.

Summit also offers strategic support to portfolio company leaders focused on areas we believe are critical to accelerating and supporting long-term, profitable growth, including revenue optimization, digital marketing, human capital strategy, capital markets expertise, and technology and data science.