Summit Partners holds final closing of venture fund on $520m

The fund will make investments of up to $45m in private companies with strong growth potential.

Along with the simultaneous closing of the Summit Partners Growth Equity Fund VIII on $2.7bn, Summit Partners has increased its commitments for investment in growing companies across North America, Europe and Asia by $3.22bn, bringing its total to over $9bn.

Investors
Previous investors in Summit's earlier funds have reinvested alongside new investors that include advisers, corporate and public pension funds, entrepreneurs, family offices, financial institutions, foundations, universities and funds of funds.

Investments
Summit Partners Venture Capital Fund III will make investments of up to $45m in private companies with growth potential, from the $520m of commitments it holds. Summit will acquire majority and minority stakes in companies across various industries including technology, healthcare, financial technology and services, consumer and industrial.

People
Joey Trustey is a managing director at Summit Partners.

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