BALTIMORE & SAN DIEGO–(BUSINESS WIRE)–JMI Equity, a growth equity firm focused on investing in leading software companies, today announced the closing of JMI Equity Fund IX at the Fund’s $1.2 billion hard cap. With strong support from both existing and new investors, JMI IX exceeded its target, bringing total capital commitments raised since JMI’s inception to over $4 billion. Through its new fund, JMI will continue its focused strategy of investing in high-growth software companies and helping create significant shareholder value through proven value creation strategies.
“Over the last 26 years and 140-plus investments in 26 U.S. states, Canada, and Europe, our mission has been to identify and add value to outstanding software companies,” said Harry Gruner, JMI Equity Founder and Co-Managing General Partner. “With our new fund, we look forward to continuing to collaborate with founders and management teams to help build and scale world-class software companies.”
JMI IX will make investments ranging from approximately $15 million to over $100 million through both minority and control transactions in growing enterprise software companies. JMI is often the first institutional capital provider to companies seeking a partner to help navigate the challenges and opportunities of rapid growth. JMI companies typically have $10 million to $200 million in revenue at investment. Notable JMI investments include Adaptive Insights (acquired by Workday), automotiveMastermind (acquired by IHS Markit), Capsule Technologies (acquired by Qualcomm), Eloqua (acquired by Oracle), and ServiceNow (IPO, NYSE: NOW).
“We’re grateful for the partnership of our investors and management teams,” said Paul Barber, Co-Managing General Partner of JMI. “With our focus, disciplined approach, and commitment to excellence, the JMI Equity team is committed to continue executing against our strategy in JMI IX.”
Proskauer Rose LLP served as legal counsel in the formation of JMI IX.
About JMI Equity
JMI Equity is a growth equity firm focused on investing in leading software companies. Founded in 1992, JMI has invested in over 140 businesses in its target markets, successfully completed over 90 exits, and raised more than $4 billion of committed capital. JMI partners with exceptional management teams to help build their companies into industry leaders. For more information, visit www.jmi.com.