Private equity firm JMI Equity has closed its seventh fund, JMI Equity Fund VII, L.P., with $875 million. With its new fund, JMI will continue its growth equity strategy, providing capital for acquisitions, recapitalizations and buyouts. The new fund will focus primarily on North American companies, with investments ranging from $10 million to $100 million each. JMI is focused on software, Internet, business services and healthcare IT companies. The firm has raised a total of $2.1 billion since it was formed in 1992. JMI has offices in Baltimore and San Diego, Calif.
JMI Equity, a growth equity firm that invests in leading software, internet, business services and healthcare IT companies, today announced the closing of JMI Equity Fund VII, L.P. (JMI VII), an $875 million fund. With the closing of JMI VII, JMI Equity has successfully raised over $2.1 billion of committed capital since its founding in 1992.
“We are pleased to announce the closing of JMI VII,” said Harry Gruner, JMI Equity Managing General Partner and Co-Founder. “In this very challenging fundraising environment, we are grateful for the continued support of our longstanding investors, as well as the substantial interest from new investors. We thank our limited partners who have once again entrusted us to manage their capital, and we appreciate their confidence in our strategy and team.”
Since 1992, JMI Equity has invested in more than 100 businesses in its target markets. Through JMI VII, JMI Equity will continue its longstanding investment strategy of providing capital to fund growth, acquisitions, recapitalizations and buyouts. The new fund will invest primarily in North American companies, targeting equity investments of $10 million to $100 million each.
“Our core focus is to partner with exceptional management teams of leading growth companies to help build their businesses into industry leaders,” said Paul Barber, JMI Equity Managing General Partner. “With JMI VII, we will continue to pursue the same focused strategy that we have successfully employed for the last 18 years.”
Goodwin Procter LLP served as legal counsel in the formation of JMI VII.
About JMI Equity
JMI Equity is a growth equity firm focused on investing in leading software, internet, business services and healthcare IT companies. Founded in 1992, JMI Equity has invested in more than 100 businesses in its target markets and has over $2.1 billion of committed capital under management. JMI Equity provides capital for growth, recapitalizations, acquisitions and buyouts. Representative investments include Blackbaud, DoubleClick, Eloqua, Navicure, Nimsoft and Service-now.com. For more information on JMI Equity, visit www.jmiequity.com.