The USA-based global alternative investment company Summit Partners announced the closure of its fourth Europe Growth Equity Fund at USD 1.4 billion total commitments. The company announced the closure on February 13, 2023. Since the fund’s inception in 2022, the company seeks to have an oversubscribed Summit Partners Europe Growth Equity Fund IV.
Purpose of the fund by Summit Partners
The Summit Partners Europe Growth Equity Fund IV seeks to target minority and majority equity investments. The size cap of investments intends to range between EUR 20 and EUR 80 million in Europe-based companies.
Since the firm’s inception in 1984, the company’s total funding stands at USD 43 billion.
What the company’s officials have to add
Peter Chung, Managing Director and Chief Executive Officer of Summit Partners said, “With the closing of this new fund, we further our commitment to Summit’s growth equity strategy across Europe, serving as the partner of choice for category-leading, profitable growth companies within our core sectors of focus. We are deeply grateful for the continued support of our limited partners and for their trust and confidence in our global team and our growth-focused strategy.”
In addition, Han Sikkens, Managing Director and Head of Europe at Summit Partners, said, “As we invest this fund in Europe, we will build upon nearly 40 years of experience as a growth investor, leveraging our deep sector knowledge, extensive global network and value enhancement resources to support the growth of our portfolio companies. Europe has been an integral part of Summit’s global investment strategy since 2000, and we have been proud to partner with exceptional founders and management teams over that time.”
About Summit Partners
The company came into existence in 1984. The USA-based Summit Partners is a global alternative investment firm. The company’s focus is on pursuing growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy. It has invested in more than 550 companies in sectors such as healthcare, technology, and other growth industries.
Besides, the company offers its portfolio company leaders strategic support focused on areas critical to accelerating and supporting long-term, profitable growth, including human capital, go-to-market and operations, technology and data science, as well as capital markets.
Summit maintains offices in regions such as North America and Europe and invests in companies worldwide.
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