Summit Partners raises $8.35 bln for eleventh U.S. progress fairness fund

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Oct 4 (Reuters) – Alternative funding agency Summit Partners mentioned on Monday it had raised $8.35 billion for its eleventh U.S. progress fairness fund.

Summit Partners Growth Equity Fund XI will goal minority and majority investments of $75 million to $500 million, primarily in “profitable, category-leading growth companies”, the funding agency mentioned.

The fund was considerably oversubscribed, in accordance with the corporate, which has raised greater than $43 billion in capital throughout its progress fairness, fastened revenue and public fairness funds since being based in 1984.

Summit has portfolio firms in North and South Americas, Europe, Asia, Australia and Africa.

Reporting by Noor Zainab Hussain in Bengaluru; Editing by Sriraj Kalluvila

A picture illustration shows U.S. 100-dollar bank notes taken in Tokyo August 2, 2011. REUTERS/Yuriko Nakao/File Photo