Summit Partners, a global alternative investment firm, has closed its latest flagship U.S. growth equity fund. Launched in June 2021, Summit Partners Growth Equity Fund XI was oversubscribed and closed at its hard cap with total commitments of $8.35 billion.
“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,” said Peter Chung, managing director and chief executive officer of Summit Partners. “We are deeply grateful for the longstanding support of our limited partners and for their trust and confidence in our team and our strategy.”
Summit’s global team works collaboratively across offices in the U.S. and Europe to partner with growth companies in industry sectors, including technology, healthcare, financial technology and services, consumer and e-commerce, and business services.
Summit Partners Growth Equity Fund XI will target minority and majority investments of $75 to $500 million primarily in growth companies.