– JMI Equity announced the first and final close of JMI Equity Fund XII at $3.1 billion, significantly oversubscribed and capped.
– Fund XII closed approximately four months after its launch in March.
– With this close, JMI’s total capital commitments exceed $11 billion.
– Peter Arrowsmith, Managing Partner, highlighted that demand reflects strong investor conviction in JMI’s growth-stage software strategy.
– JMI has a 33-year history focusing exclusively on growth-stage software, leveraging experience across sectors, market conditions, and innovation cycles, including AI.
– JMI partners with high-growth B2B software companies, primarily in North America.
– Investment sectors include education, finance, insurance, legal services, healthcare IT, government, and security.
– Fund XII will target investments ranging from $40 million to over $400 million.
– Team promotions announced: Preston Horner and Andy Knox to Principal, Will Priestley to Vice President.
– Since 1992, JMI has invested in over 190 software companies and achieved more than 120 exits totaling $11 billion in distributions.
– Proskauer Rose LLP acted as legal counsel for the formation of Fund XII.
