Summit Partners Closes its Second Europe-focused Growth Equity Fund at its Hard Cap with €700M of Commitments
Summit Partners, a global alternative investment firm, has announced the final closing of its second Europe growth equity fund. The fundraising was launched earlier this year, and the fund exceeded its target and was closed at its hard cap with total commitments of €700 million. Summit Partners Europe Growth Equity Fund II will target equity investments of €20 to €60 million in category-leading companies across Europe, pursuing the growth equity strategy the firm has employed since its inception in 1984. Summit will seek to partner with the exceptional entrepreneurs and management teams who lead these businesses and to deliver post-investment support to accelerate growth and enhance value.
“Over more than three decades as a growth equity investor, Summit has developed deep sector expertise, an extensive global network of relationships, and a track record of supporting the needs of growth companies,” said Peter Y. Chung, Managing Director and Chief Executive Officer of Summit Partners. “With its strong entrepreneurial ecosystem – particularly in the technology, consumer, financial technology and healthcare sectors – Europe has been an integral part of Summit’s global investment strategy since 2000. We are excited to continue our efforts in the region.”
“On behalf of the entire Summit team, we are grateful for the strong support from our existing investors and from those investors who are new to the Firm,” said Han Sikkens, Managing Director and Head of Europe. “We are also appreciative of the trust placed in us by the entrepreneurs and management teams with whom we have partnered over the past 17 years in Europe. We believe this fund is well-suited to support our focus on entrepreneurial growth businesses across Europe.”
Summit’s London-based team of 16 investment professionals works closely and collaboratively with the firm’s 100+ investment professionals worldwide. The team makes both minority and majority investments in growing companies across key industry sectors including technology, healthcare, financial technology and services, consumer and industrial. As board members and through the efforts of the firm’s dedicated portfolio services teams – its Peak Performance Group, Capital Markets Team, Talent & Recruiting Team, and Executive Partner Programs – Summit offers capital, expertise and resources to help category-leading companies accelerate their growth and build businesses of lasting value.
Since its inception in 1984, Summit Partners has managed combined assets of more than $20 billion.
Asante Capital Group LLP acted as exclusive global advisor on the Summit Partners Europe Growth Equity Fund II, and Kirkland & Ellis LLP acted as legal counsel.
Source: Summit Partners press release