Summit Partners

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Summit Partners
TypePrivate
IndustryFinancial services
Founded1984; 39 years ago (1984)[1][2][3]
FounderRoe Stamps[2]
Stephen Woodsum[2]
Gregory Avis[4]
HeadquartersBoston, Massachusetts, U.S.[1][2][3]
Key people
Peter Chung (CEO)[5]
ProductsPrivate equity
Venture capital
Private credit
Public equity
AUMUS$35 billion (2022)[6]
Websitewww.summitpartners.com

Summit Partners is an American private equity firm based in Boston, Massachusetts.[1][2][3] The firm focuses on investing in technology, healthcare, life sciences and other growth industries.[1][3]

Background

Summit Partners was founded in 1984 by Roe Stamps and Stephen Woodsum, who previously worked together at TA Associates.[2][7][8] Greg Avis would also join as a co-founder shortly after.[8][4]

In 2000, the three co-founders handed over daily management of the firm to five partners.[2][4]

In 2015, the firm acquired Alydar Capital.[9] It is now operating as the public equity investment arm of Summit Partners.[citation needed]

Summit Partners is headquartered in Boston[1][2][3] with additional offices in Menlo Park, London and Luxembourg.[3][5]

Business Overview

Summit Partners has three main business lines, which are:[1][5]

The firm typically invests in later-stage companies that have already been established with the objective of providing further growth.[1] Its private equity investments typically range from $30 million to $500 million each, while its venture capital investments range from $5 million to $30 million each.[1] The firm also provides debt financing as well as public equities' investment services.[1]

Notable investments made by Summit Partners include Uber,[10] McAfee,[citation needed] Avast,[11] Infor,[12] Flow Traders[13] and Arista Networks.[citation needed]

Funds

Growth

Fund[14][15] Vintage Year Committed Capital ($m)
Summit Partners Private Equity Fund VII 2006 USD 3,100
Summit Partners Europe Private Equity Fund 2008 EUR 1,000
Summit Partners Growth Equity Fund VIII 2012 USD 2,700
Summit Partners Growth Equity Fund IX 2016 USD 3,300
Summit Partners Europe Growth Equity Fund II 2017 EUR 700
Summit Partners Growth Equity Fund X 2019 USD 4,900
Summit Partners Europe Growth Equity Fund III 2020 USD 1,100

Venture

Fund Vintage Year Committed Capital ($m)
Summit Ventures I 1984 USD 160
Summit Ventures II 1988 USD 230
Summit Ventures III 1992 USD 280
Summit Ventures IV 1995 USD 610
Summit Ventures V 1998 USD 1,120
Summit Accelerator Fund 1999 USD 170
Summit Ventures VI 2001 USD 2,085
Summit Partners Venture Capital Fund II 2006 USD 310
Summit Partners Venture Capital Fund III 2012 USD 520
Summit Partners Venture Capital Fund IV 2017 USD 730
Summit Partners Venture Capital Fund V 2020 USD 1,000

Credit

Fund[16] Vintage Year Committed Capital ($m)
Summit Partners Credit Fund 2012 USD 520
Summit Partners Credit Fund II 2014 USD 1,000

Subordinated Debt

Fund[17] Vintage Year Committed Capital ($m)
Summit Subordinated Debt Fund 1994 USD 140
Summit Subordinated Debt Fund II 1997 USD 335
Summit Subordinated Debt Fund III 2004 USD 465
Summit Subordinated Debt Fund IV 2009 USD 840

Notable investments

References

  1. ^ a b c d e f g h i "Summit Partners, L.P." Dun and Bradstreet.
  2. ^ a b c d e f g h "E. Roe Stamps IV, MBA 1974 - Alumni - Harvard Business School". www.alumni.hbs.edu. January 2012.
  3. ^ a b c d e f "Summit Partners Investor Profile: Portfolio & Exits | PitchBook". pitchbook.com.
  4. ^ a b c "New Williams Trustees Named". Office of Communications.
  5. ^ a b c "Summit Partners Global Announces Promotions". www.businesswire.com. 2021-01-25.
  6. ^ "FORM ADV" (PDF). AdviserInfo.sec.gov.
  7. ^ "Summit Partners Surpasses $20 Billion in AUM with a Focus on Software/SaaS | The Software Report". TSR.
  8. ^ a b "Kellogg World Alumni Magazine, Summer 2009, Kellogg School of Management". www.kellogg.northwestern.edu. Retrieved 2021-05-26.
  9. ^ "SEC FORM 13F-HR". www.sec.gov. Retrieved 2021-05-26.
  10. ^ a b "Uber Raises Giant $1.2 Billion Funding Round At A $17 Billion Valuation". TechCrunch. 6 June 2014.
  11. ^ a b "Summit Partners Pumps $100 Million Into Antivirus Software Maker AVAST Software". TechCrunch. 23 August 2010.
  12. ^ a b "Infor Raises More Money, Finally Completes Lawson Transaction". IT Jungle. 2012-04-09.
  13. ^ a b "Summit Partners invests in electronic trading firm Flow Traders | Hedgeweek". www.hedgeweek.com. 2008-06-04.
  14. ^ "Summit Partners Growth Equity | Palico". www.palico.com. Retrieved 2021-05-25.
  15. ^ "Summit Partners Europe Private Equity Fund | Palico". www.palico.com. Retrieved 2021-05-25.
  16. ^ "Summit Partners Credit Advisors | Palico". www.palico.com. Retrieved 2021-05-25.
  17. ^ "Summit Partners Subordinated Debt | Palico". www.palico.com. Retrieved 2021-05-25.
  18. ^ Guru, A. Cloud. "A Cloud Guru raises $33M growth equity round led by Summit Partners to scale its leading online cloud training platform for enterprises and cloud professionals". www.prnewswire.com. Retrieved 2021-05-25.
  19. ^ Maffei, Lucia. "European software firm Akeneo to grow Boston headcount with $46M round". www.bizjournals.com. Retrieved 2021-05-25.{{cite web}}: CS1 maint: url-status (link)
  20. ^ "Answers Corporation - Answers.com Agrees to be Acquired for $127 Million in Cash: $10.50 per Share". 2011-02-05. Archived from the original on 2011-02-05. Retrieved 2021-05-25.
  21. ^ "Goldman Sachs to invest in AvePoint". Fortune. Retrieved 2021-05-25.
  22. ^ Bradshaw, Tim (24 September 2018). "Belkin founder pushes the benefits of staying private". Financial Times. Retrieved 2021-05-25.{{cite news}}: CS1 maint: url-status (link)
  23. ^ "bigpoint.net". 2011-09-19. Archived from the original on 2011-09-19. Retrieved 2021-05-25.
  24. ^ "Calypso Technology Acquired by 2 Private Equity Firms". WatersTechnology.com. 2016-04-19.
  25. ^ "Clarabridge Secures $80 Million From New Investors". WashingtonExec. 2013-09-10.
  26. ^ Ufford, Matt (2012-11-15). "CrossFit avoids corporate takeover". SBNation.com. Retrieved 2021-05-25.
  27. ^ "Steeped in spycraft, cybersecurity firm Darktrace rockets on London debut". Reuters. 2021-04-30.
  28. ^ "GCA sells majority interest for 2nd time in 2 months". www.atmmarketplace.com. 2004-05-19. Retrieved 2021-05-25.
  29. ^ "FleetCor Lands $45-Million Infusion". Convenience Store News.
  30. ^ Konrad, Alex. "Why Boston Startup ThinkingPhones Renamed Itself Fuze After Raising $112 Million". Forbes. Retrieved 2021-05-25.
  31. ^ Wednesday, Sarah Sluis //; April 17th; Am, 2019-12:04 (2019-04-17). "How A Focus On Quality And Discipline Revived Healthline Media". AdExchanger. Retrieved 2021-05-25.{{cite web}}: CS1 maint: numeric names: authors list (link)
  32. ^ "Summit Partners Sells Help/Systems to Audax Group". IT Jungle. 2007-10-01. Retrieved 2021-05-25.
  33. ^ "Summit Partners acquires majority stake in e-payment services firm Ogone". TechCrunch. 17 May 2010. Retrieved 2021-05-25.
  34. ^ Grayson, Katharine. "Fast-growing JAMF Software raises $30M". www.bizjournals.com.
  35. ^ "Summit Partners Puts $26M Into Samwer Brothers' African Amazon Clone Jumia". TechCrunch. 6 March 2013.
  36. ^ Russell, Jon (2013-01-22). "Lazada, Rocket's Amazon clone in Asia, raises 'close to $20m' to develop its e-commerce marketplace". TNW | Asia. Retrieved 2021-05-25.
  37. ^ Bunge, Michelle Price and Jacob. "Liquidnet private equity investors redeem stake". www.fnlondon.com.
  38. ^ "Logi Analytics Secures $27.5M Investment led by LLR Partners | Logi Analytics News". Logi Analytics. Retrieved 2021-05-25.
  39. ^ "Markforged raises $82 million for its industrial 3D printers". TechCrunch. 20 March 2019. Retrieved 2021-05-25.
  40. ^ "Telematics provider Masternaut bought by Summit Partners and FleetCor". www.fleetnews.co.uk. Retrieved 2021-05-25.
  41. ^ "Summit Partners acquires Alameda's Perforce Software". The Mercury News. 2016-02-04. Retrieved 2021-05-25.
  42. ^ "Philz Coffee Raises Eight-Figure Round From Summit, Angels, As Specialty Coffee Market Heats Up". TechCrunch. 2 May 2013. Retrieved 2021-05-25.
  43. ^ "ISP-Planet - Business - Postini Revisited". 2010-04-15. Archived from the original on 2010-04-15. Retrieved 2021-05-25.
  44. ^ "Reverb, Marketplace for Musicians, Cranks Up With $25 Million in Funding". Billboard. Retrieved 2021-05-25.
  45. ^ "RiskIQ puts companies in a threat-prevention state of mind with $10M". VentureBeat. 2013-07-18. Retrieved 2021-05-25.
  46. ^ "Sidley Advised Summit Partners on Its Sale of Shares in Signavio GmbH". www.sidley.com.
  47. ^ Partners, Summit (2015-12-22). "Growth Equity Firm Summit Partners Invests $55 Million in Danish SaaS Company Siteimprove". GlobeNewswire News Room. Retrieved 2021-05-25.
  48. ^ "Tippmann: Our Company: Press Releases". 2010-02-06. Archived from the original on 2010-02-06. Retrieved 2021-05-25.
  49. ^ "Zalora secures €20mil investment from German retail giant". Digital News Asia. 2013-03-13. Retrieved 2021-05-25.

External links

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