Summit Partners Secures $9.5 Billion Growth Equity Fund

Summit Partners, a well-known player in the growth equity world, just announced the closing of its latest U.S. fund, Summit Partners Growth Equity Fund XII, securing an impressive $9.5 billion.

Starting its fundraising in late April 2024, the firm wrapped things up within five months. Not bad for a day’s (or five months’) work!

The new fund is expected to continue Summit’s tried-and-true strategy of focusing on profitable growth—because, let’s face it, that’s where the money is.

Peter Chung, Summit Partners' MD and CEO, who is said to have an estimated net worth approaching $200 million, expressed gratitude for the support from existing investors and welcomed new faces into the mix.

He emphasized that Summit XII will carry forward the company’s growth-focused investing strategy, which has been its bread and butter since 1984.

“We are deeply grateful for the longstanding support of our existing limited partners and are pleased to welcome several new investors,” he said.

The firm now manages over $46 billion in assets, and they plan to invest between $75 and $500 million in leading companies across various sectors like technology, healthcare, and financial services.

With a global team of over 100 investment professionals, Summit seems well-equipped to keep these growth companies on track—and profitable.

• Having just celebrated its 40th anniversary, Summit Partners doesn’t appear to be slowing down.

Their continued focus on profitable growth may sound a bit like a mantra by now, but given their success, it’s clearly working.

After all, they’ve been at it for four decades, and with this new fund, the firm is well-poised to continue its growth spree.

So, here’s to another $9.5 billion, and many more success stories in the making!