Summit Partners raised €1.4 billion ($1.5 billion) in investor commitments for its fourth Europe growth equity fund, which launched in October 2022.
Summit Partners Europe Growth Equity Fund IV follows the $8.5 billion asset raise for the firm’s U.S. growth equity fund in late 2021. The oversubscribed Europe fund will target minority and majority equity investments between €20 million and €80 million in Europe-based companies, applying the growth equity strategy the fund established in 1984.
“With the closing of this new fund, we further our commitment to Summit’s growth equity strategy across Europe, serving as the partner of choice for category-leading, profitable growth companies within our core sectors of focus,” said Peter Chung, managing director and chief executive officer of Summit Partners. “We are deeply grateful for the continued support of our limited partners and for their trust and confidence in our global team and our growth-focused strategy.”
In London, Summit’s team focuses on key industry sectors such as technology, healthcare and life sciences and growth products and services.
According to Summit Partners Managing Director and Head of Europe Han Sikkens, the team is bolstered with nearly 40 years of experience as a growth investor and provides key support for the growth of portfolio companies.
“Europe has been an integral part of Summit’s global investment strategy since 2000, and we have been proud to partner with exceptional founders and management teams over that time,” Sikkens added.