Summit Hits Fund X Hard Cap

Summit Partners has held a first and final closing of Summit Partners Growth Equity Fund X LP at $4.9 billion.

The oversubscribed fund, which was launched in the fourth quarter of 2018, closed at its hard cap. The general partner has committed $400 million of this total and will be the single largest investor in the fund.

Summit Partners has now raised more than $27 billion in capital and has provided equity, recapitalization, and management buyout financing to more than 475 companies across a range of sectors including technology, healthcare, financial technology and services, consumer products and industrial technology.

“We are deeply grateful for the longstanding trust and support of our limited partners,” said Peter Chung, managing director and chief executive officer of Summit Partners.  “With our latest U.S. growth equity fund, our strategy remains focused on serving as the partner of choice for best-in-class growth companies identified through our unique idea generation process and deep sector expertise.  We intend to continue serving founders and executives teams with our industry experience and our platform of value enhancement services built specifically to support the needs of growth companies.”

The new fund, like earlier funds, makes minority and majority investments of $75 million to $300 million in category-leading growth companies.

Summit Partners was founded in 1984 and has more than 100 investment professionals in its offices in Boston, Palo Alto, London, and Luxembourg (

© 2019 Private Equity Professional | March 6, 2019

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