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Summit Partners L.P.<br>Summit Partners LLP

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Summit Partners L.P.
Summit Partners LLP
Summit Partners
Type
Private Ownership
ISIN🆔
IndustryPrivate Equity
Founded 📆1984; 37 years ago (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
💎 AUMmore than $20 billion[1]
Members
Number of employees
150+
🌐 Websitewww.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]

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]

  1. "Summit collects $4 bln for two funds". pehub.com. 2017-04-04. Retrieved 2017-10-23.
  2. Source:Summit Partners Pumps $100 Million Into Antivirus Software Maker AVAST Software. TechCrunch, August 23, 2010
  3. Source:Summit Partners Invests $15 Million in Hittite Microwave Corp. AllBusiness, December 5, 2000
  4. Source:E-TEK Profile.
  5. Source:McAfee Case Study Archived 2010-12-30 at the Wayback Machine.
  6. "Summit Partners acquires Alameda's Perforce Software". mercurynews.com. 2016-02-03. Retrieved 2018-01-02.
  7. Source:Summit Partners in $273m Technology Exit. Dow Jones Financial News Online, June 9, 2004
  8. Source:Lincare Case Study.
  9. Source:SMDVIP Receives Investment from Summit Partners. AllBusiness, January 5, 2005
  10. Source:Pediatrix Case Study.
  11. Source:Physicians Formula Attracts Equity Investment From Summit Partners Archived 2009-08-08 at the Wayback Machine. Focal Point News, November 2003
  12. Source:FleetCor Closes New $100 Million Series E Equity Financing. Reuters Online, April 8, 2009
  13. Source:Summit Partners Portfolio Archived 2009-11-12 at the Wayback Machine.
  14. Source:Snap Fitness Announces Minority Equity Investment by Summit Partners. Market Wire, June, 2008
  15. Source:Tiny Prints Announces Strategic Investment From Summit Partners and Technology Crossover Ventures. Marketwire, April 23, 2008
  16. Source:Vente-Privee luxury goods website sees cut-price sales soar in downturn. Telegraph UK, July 26, 2009
  17. Source:Web Reservations International Receives Investment from Summit Partners. AllBusiness, April 14, 2004
  18. Westwing Raises $50 Million in Financing Round Led by Summit Partners.
  19. US Summit Partners closes $465m debt fund Archived 2012-07-23 at Archive.today. AltAssets March 18, 2004
  20. US Summit Partners closes $3bn PE fund and $300m VC fund. AltAssets, June 2005
  21. 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]


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