Summit Partners, a global growth equity investment firm, closed its latest flagship U.S. growth equity fund, Summit Partners Growth Equity Fund XII. Summit XII launched fundraising in late April 2024 and held its closing after approximately five months with $9.5 billion in capital. Consistent with the firm’s prior funds, the general partner will be the single largest investor in Summit XII.
“We are deeply grateful for the longstanding support of our existing limited partners and are pleased to welcome several new investors,” Peter Chung, managing director and CEO of Summit Partners, said. “With the closing of our latest flagship fund, we will continue to execute our growth equity investing strategy. This strategy, which we believe is both timeless and time-tested, is grounded in our foundational belief that profitable growth is the most reliable source of superior risk-adjusted returns through market and economic cycles. We look forward to serving our limited partners and our portfolio companies as the partner of choice for category-leading growth companies in the technology, healthcare and growth products and services sectors.”
Summit XII will target majority and minority investments of $75 to $500 million primarily in profitable, category-leading growth companies. With this new capital, Summit is now managing more than $46 billion in assets across its fund complex.
