JMI Equity Closes $875 Million Seventh Fund

Private equity firm JMI Equity has closed its seventh fund, JMI Equity Fund VII, L.P., with $875 million. With its new fund, JMI will continue its growth equity strategy, providing capital for acquisitions, recapitalizations and buyouts. The new fund will focus primarily on North American companies, with investments ranging from $10 million to $100 million each. JMI is focused on software, Internet, business services and healthcare IT companies. The firm has raised a total of $2.1 billion since it was formed in 1992. JMI has offices in Baltimore and San Diego, Calif.

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