SEP gathers $720m for third fund

Sumeru Equity Partners has closed its third fund at $720 million, beating its $600 million target.

Sumeru Equity Partners has closed its third fund at $720 million, beating its $600 million target. The fund’s limited partners included pension plans, insurance companies, endowments and family offices. SEP invests in enterprise technology companies.

PRESS RELEASE

SAN MATEO, Calif.–(BUSINESS WIRE)–Sumeru Equity Partners (SEP), a leading technology-focused growth capital firm, today announced the closing of Sumeru Equity Partners Fund III with $720 million of total capital commitments, significantly above its $600 million target and over 70% above its predecessor fund. The new fund will continue SEP’s strategy of investing in market leading, enterprise technology companies through a growth focused partnership model built upon value-added operating skills, a deep understanding of technology trends and access to attractive investment opportunities.

“We’re thrilled to have been oversubscribed and to welcome prominent new investors in North America and Europe including pension plans, insurance companies, endowments and family offices alongside existing long-term limited partners,” said Kyle Ryland, Managing Partner at SEP. “At a time when LPs are more selective than ever, we are proud of the confidence they’ve shown in our strategy, our team, our investment acumen and our ability to create value.”

The fundraising caps a year of tremendous success and growth for SEP. Recent results include:
70% growth from prior fund size and closing 20% above target
Recognition by Mergers & Acquisitions as Mid-Market Private Equity Seller of the Year for 2019
Strategic investments in enterprise SaaS leaders Social Chorus and Ceros in Q3 2020
Launch of inaugural SEP Fellows Program in summer 2020

SEP’s experience partnering with leading enterprise technology SaaS companies is proving advantageous as permanent tailwinds resulting from remote work and education accelerate the shift to business software run from the cloud. SEP principals have extensive experience leading enterprise technology companies and partnering with founders and management teams to drive growth and enhance profitability by focusing on go-to-market acceleration, product strategy, organizational development, and governance.

About Sumeru Equity Partners
Sumeru Equity Partners (“SEP”) is a technology-focused growth capital firm that invests in growing enterprise technology companies across software, technology-enabled services and hardware. The firm typically invests $25-200 million per transaction. SEP has a longstanding history of investing and partnering with founders and management teams to build growth leaders. The 27-person firm was founded in 2014 by an experienced team from Silver Lake. For more information, please visit www.sumeruequity.com.