Summit Partners L.P.<br>Summit Partners LLP
| Summit Partners | |
| Private Ownership | |
| ISIN | 🆔 |
| Industry | Private Equity |
| Founded 📆 | 1984 |
| Founder 👔 | E. Roe Stamps, Stephen Woodsum, Greg Avis |
| Headquarters 🏙️ | Boston, Massachusetts, United States |
Area served 🗺️ | |
Key people | Peter Y. Chung, Managing Director and CEO; Scott C. Collins, Managing Director and COO |
| Products 📟 | Growth capital, Venture capital, Recapitalizations, Mezzanine capital, Leveraged buyouts |
| 💎 AUM | more than $20 billion[1] |
| Members | |
Number of employees | 150+ |
| 🌐 Website | www.summitpartners.com |
| 📇 Address | |
| 📞 telephone | |
Summit Partners is a Boston, Massachusetts-based private equity investment firm, it provides growth equity, venture capital and credit investments for growth, recapitalizations and management buyouts.
The company was founded in 1984, and in addition to its Boston headquarters, has offices in Menlo Park, California; and London, England. The firm employs more than 85 investment professionals and more than 150 employees overall.
Since inception, Summit Partners has raised more than $20 billion in capital through 18 equity and fixed income funds.[citation needed]
History[edit]
| History of private equity and venture capital |
|---|
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| Early history |
| (origins of modern private equity) |
| The 1980s |
| (leveraged buyout boom) |
| The 1990s |
| (leveraged buyout and the venture capital bubble) |
| The 2000s |
| (dot-com bubble to the credit crunch) |
Summit Partners was founded in 1984 by Stephen Woodsum and E. Roe Stamps, who had worked together at TA Associates and before that at First Chicago Investment Corporation (the predecessor of Madison Dearborn Partners). Woodsum and Stamps were joined shortly thereafter by Greg Avis, who would open the firm's California office in 1993 along with Walter Kortschak.[citation needed]
Investments[edit]
Summit Partners has invested in more than 400 companies globally.[citation needed]
Investments include:
- Technology: AVAST,[2] Hittite Microwave,[3] E-TEK Dynamics,[4] McAfee,[5] Perforce Software,[6] Jamba AG,[7]
- Healthcare & life sciences: Lincare,[8] MDVIP,[9] Pediatrix,[10] Physicians Formula[11]
- Growth products & services: FleetCor Technologies,[12] Keystone RV,[13] Snap Fitness,[14] Tiny Prints,[15] Vente-privee.com,[16] Web Reservations International,[17] Westwing Home & Living GmbH[18]
Funds[edit]
Since its founding in 1984, Summit Partners has raised 18 equity and fixed income funds:
| Fund | Inception Date |
AUM ($m) |
|---|---|---|
| Summit Ventures | 1984 | $160 |
| Summit Ventures II | 1988 | $230 |
| Summit Ventures III | 1992 | $280 |
| Summit Subordinated Debt Fund | 1994 | $140 |
| Summit Ventures IV | 1995 | $610 |
| Summit Subordinated Debt Fund II | 1997 | $335 |
| Summit Ventures V | 1998 | $1.12 bill |
| Summit Accelerator Fund | 1999 | $170 |
| Summit Ventures VI | 2001 | $2.08 bill |
| Summit Subordinated Debt Fund III[19] | 2004 | $465 |
| Summit Partners Private Equity Fund VII[20] | 2005 | $3.10 bill |
| Summit Partners Venture Capital Fund II | 2005 | $310 |
| Summit Partners Europe Private Equity Fund[21] | 2008 | €1.05 bill |
| Summit Partners Subordinated Debt Fund IV ($840 million)[21] | 2008 | $840 |
| Summit Partners Growth Equity Fund VIII | 2012 | $2.7 bill |
| Summit Partners Venture Capital Fund III | 2012 | $550 |
| Summit Partners Credit Fund | 2012 | $520 |
| Summit Partners Credit Fund II | 2014 | $1.05 bill |
References[edit]
- ↑ "Summit collects $4 bln for two funds". pehub.com. 2017-04-04. Retrieved 2017-10-23.
- ↑ Source:Summit Partners Pumps $100 Million Into Antivirus Software Maker AVAST Software. TechCrunch, August 23, 2010
- ↑ Source:Summit Partners Invests $15 Million in Hittite Microwave Corp. AllBusiness, December 5, 2000
- ↑ Source:E-TEK Profile.
- ↑ Source:McAfee Case Study Archived 2010-12-30 at the Wayback Machine.
- ↑ "Summit Partners acquires Alameda's Perforce Software". mercurynews.com. 2016-02-03. Retrieved 2018-01-02.
- ↑ Source:Summit Partners in $273m Technology Exit. Dow Jones Financial News Online, June 9, 2004
- ↑ Source:Lincare Case Study.
- ↑ Source:SMDVIP Receives Investment from Summit Partners. AllBusiness, January 5, 2005
- ↑ Source:Pediatrix Case Study.
- ↑ Source:Physicians Formula Attracts Equity Investment From Summit Partners Archived 2009-08-08 at the Wayback Machine. Focal Point News, November 2003
- ↑ Source:FleetCor Closes New $100 Million Series E Equity Financing. Reuters Online, April 8, 2009
- ↑ Source:Summit Partners Portfolio Archived 2009-11-12 at the Wayback Machine.
- ↑ Source:Snap Fitness Announces Minority Equity Investment by Summit Partners. Market Wire, June, 2008
- ↑ Source:Tiny Prints Announces Strategic Investment From Summit Partners and Technology Crossover Ventures. Marketwire, April 23, 2008
- ↑ Source:Vente-Privee luxury goods website sees cut-price sales soar in downturn. Telegraph UK, July 26, 2009
- ↑ Source:Web Reservations International Receives Investment from Summit Partners. AllBusiness, April 14, 2004
- ↑ Westwing Raises $50 Million in Financing Round Led by Summit Partners.
- ↑ US Summit Partners closes $465m debt fund Archived 2012-07-23 at Archive.today. AltAssets March 18, 2004
- ↑ US Summit Partners closes $3bn PE fund and $300m VC fund. AltAssets, June 2005
- ↑ 21.0 21.1 Boston private equity firm Summit Partners closes two funds Archived 2010-03-04 at the Wayback Machine. AltAssets, April 28, 2008
External links[edit]
- Summit Partners (company website)
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