Summit Raising up to $3B for New Growth Equity Fund
August 27, 2015
Summit Partners has launched its latest growth fund, seeking to raise up to $3 billion for the vehicle, according to an SEC filing. The firm's predecessor fund, Summit Partners Growth Equity Fund VIII, closed on $2.7 billion in early 2012 and was generating a 10.05% IRR as of the end of 1Q. Summit's three core sectors of focus are technology, healthcare & life sciences and growth products & services.