JMI Equity closes $1.2B fund focused on investing in software companies - Baltimore


Dec. 17, 2018 5:51 pm

JMI Equity closes $1.2B fund focused on investing in software companies

It's the Harbor East firm's ninth fund.

Looking up in Harbor East.

(photo by Wikimedia Commons user Bohemian Baltimore, obtained under a Creative Commons license.)

JMI Equity closed on a $1.2 billion fund that will be focused on investments in growth-stage software companies.

The growth equity firm with headquarters in Baltimore’s Harbor East and offices in San Diego said the JMI Equity Fund IX closed earlier this month.

JMI focuses on growth rounds, with companies having $10 million- $200 million in revenue. With the new fund, it plans to make investments of $15 million to over $100 million in enterprise software companies.

The 26-year-old firm previously invested in companies such as Adaptive Insights and ServiceNow. JMI Equity’s last fund closed at $1 billion in 2014.

“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.”

It’s one of a number of investment firms backing growth-stage tech companies in the area, along with Camden Partners, ABS Capital Partners and Greenspring Associates.

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