Summit Partners collects $4bn

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Summit Partners, a Boston-based growth equity firm, announced the final close on two of its latest funds, Summit Partners Growth Equity Fund IX and Summit Partners Venture Capital Fund IV, raising a total of $4 billion.

The firm collected $3.3 billion against a $3 billion target for Growth Equity Fund IX, while Venture Capital Fund IV was close at $730 million, exceeding its original $600 million target.