Summit Partners, a private equity firm headquartered in Boston, has closed its latest flagship U.S. fund, Summit Partners Growth Equity Fund XII, with $9.5 billion in capital.

Summit’s team includes more than 100 investment professionals with experience in sectors including technology, healthcare, financial technology and services, business services and consumer. Summit XII will target majority and minority investments of $75 to $500 million. The fund launched in April 2024.