Summit Partners closed its second Europe Growth Equity fund on 700 million euros ($806.9 million), reaching its hard cap. Summit targets equity investments of 20 million euros to 60 million euros in companies across Europe.
Summit Partners, a global alternative investment firm, today announced the final closing of its second Europe growth equity fund. The fundraising was launched earlier this year, and the fund exceeded its target and was closed at its hard cap with total commitments of €700 million. Summit Partners Europe Growth Equity Fund II will target equity investments of €20 to €60 million in category-leading companies across Europe, pursuing the growth equity strategy the firm has employed since its inception in 1984. Summit will seek to partner with the exceptional entrepreneurs and management teams who lead these businesses and to deliver post-investment support to accelerate growth and enhance value.
“Over more than three decades as a growth equity investor, Summit has developed deep sector expertise, an extensive global network of relationships, and a track record of supporting the needs of growth companies,” said Peter Y. Chung, Managing Director and Chief Executive Officer of Summit Partners. “With its strong entrepreneurial ecosystem – particularly in the technology, consumer, financial technology and healthcare sectors – Europe has been an integral part of Summit’s global investment strategy since 2000. We are excited to continue our efforts in the region.”
“On behalf of the entire Summit team, we are grateful for the strong support from our existing investors and from those investors who are new to the Firm,” said Han Sikkens, Managing Director and Head of Europe. “We are also appreciative of the trust placed in us by the entrepreneurs and management teams with whom we have partnered over the past 17 years in Europe. We believe this fund is well-suited to support our focus on entrepreneurial growth businesses across Europe.”
Summit’s London-based team of 16 investment professionals works closely and collaboratively with the firm’s 100+ investment professionals worldwide. The team makes both minority and majority investments in growing companies across key industry sectors including technology, healthcare, financial technology and services, consumer and industrial. As board members and through the efforts of the firm’s dedicated portfolio services teams – its Peak Performance Group, Capital Markets Team, Talent & Recruiting Team, and Executive Partner Programs – Summit offers capital, expertise and resources to help category-leading companies accelerate their growth and build businesses of lasting value.
Since its inception in 1984, Summit Partners has managed combined assets of more than $20 billion.
Asante Capital Group LLP acted as exclusive global advisor on the Summit Partners Europe Growth Equity Fund II, and Kirkland & Ellis LLP acted as legal counsel.
About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm focused on growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the global economy and has invested in more than 440 companies in technology, healthcare, life sciences and other growth industries. These companies have completed more than 140 public equity offerings, and more than 165 have been acquired through strategic mergers and sales. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, visit www.summitpartners.com or follow on Twitter at @SummitPartners.
In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners LLP, a firm authorized and regulated by the Financial Conduct Authority. Summit Partners LLP is a limited liability partnership registered in England and Wales with registered number OC388179 and its registered office is at 11–12 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.