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Laxman Pai, Opalesque Asia: Software-focused investment veteran JMI Equity has surged past its target for its eleventh flagship fundraise to reach a $2.4bn final close.
The Baltimore-based growth investment firm said it had a $2 billion target for the new vehicle, JMI Equity Fund XI, when it first registered the fund with the Securities and Exchange Commission in February 2022.
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 Peter. "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."
According to the release, 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 port...................... To view our full article Click here
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