Fundraising

JMI Equity raises $1.2bn

The Baltimore based growth equity firm has hit its hard cap for its latest fund.

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JMI Equity has held a final close of JMI Equity Fund IX at $1.2 billion, exceeding its $1.1 billion target. The fund will pursue a strategy of investing in high-growth software companies, creating shareholder value through value creation strategies.

Investments will range from $15 million to $100 million in growing enterprise software companies. These companies will typically have between $10 million to $200 million in revenue at investment.

Proskauer Rose served as legal counsel during the fund’s formation.