BALTIMORE & SAN DIEGO & WASHINGTON–(BUSINESS WIRE)–JMI Equity, a growth equity firm focused on investing in leading software companies, today announced the closing of JMI Equity Fund XI, L.P. and JMI XI Executive Fund, L.P. with total commitments of $2.4 billion. The Fund was oversubscribed, with demand exceeding the original $2 billion target, and received strong support from new and existing investors. JMI XI brings JMI’s total capital commitments to more than $8 billion since the Firm’s inception in 1992.
JMI is co-led by Managing General Partners Harry Gruner (Founder) and Peter Arrowsmith. “We are grateful for the support of our long-standing investors and excited to welcome an array of new limited partners from around the globe,” said Mr. Arrowsmith. “We look forward to continuing to partner with the next generation of software company founders, entrepreneurs, and management teams to help them navigate this evolving landscape and create businesses of enduring value.”
Since JMI’s founding over 30 years ago, the Firm has maintained its strategy of investing in high-growth B2B software companies and working closely with company management teams to build industry-leaders. Over the past three years, the Firm has invested in more than 30 cloud software companies and generated over $3.5 billion in realizations. JMI and its portfolio companies are well-positioned to navigate the dynamic economic environment and the JMI team will continue partnering with its portfolio company management teams as they prioritize customer engagement, invest in product innovation, and ultimately establish market-leading companies.
JMI XI will make both minority and majority shareholder investments ranging from approximately $25 million to $250 million. The Fund will focus primarily on North American companies, often providing these companies with their first institutional capital. To date, JMI XI has completed investments in three companies – Businessolver, Visiting Media, and Unanet.
Proskauer Rose LLP served as legal counsel in the formation of JMI XI.
About JMI Equity
JMI Equity is a growth equity firm focused on investing in leading software companies. For over three decades, JMI has partnered with exceptional founders, entrepreneurs, and management teams at high-growth software companies to provide flexible capital, industry expertise, and operational support to build businesses of enduring value. To date, JMI has invested in over 180 software businesses in North America and Europe and completed over 115 exits. Today, the Firm’s portfolio of industry-leading cloud software companies represents $8 billion in combined revenue, $65 billion in aggregate enterprise value, and over 34,000 jobs. For more information, visit www.jmi.com.
