Summit Partners promotes four

A revival in investment activity in 2010 prompted promotions at Summit Partners.

After seeing its tech-focused deal activity pick up last year, Summit Partners began 2011 with a series of staff promotions at its Boston and Palo Alto offices.

In January, Alex Whittemore was promoted to the role of managing director at Summit Partners’ Boston office. He joined the private equity and venture capital group in 2007. A former Morgan Stanley executive, Whittemore currently manages Summit Partners’ investment banking relationships and heads the firm’s capital markets team.
Also promoted to the role of managing director in Boston was Mark deLaar. He joined the firm in 2003 and currently serves on the board of many of the firm’s portfolio companies including AvePoint, IMMCO Diagnostics and the OB Hospitalist Group.

Jason Glass who joined Summit Partners’ Boston office in 2006 was promoted to principal. Glass serves as a director at portfolio companies Casa Systems, Focus Financial Partners and PeopleAdmin.
In the firm’s Palo Alto office, Len Ferrington was promoted to principal. Ferrington joined Summit Partners in 2006 and serves on the board of TUI Learning.

Founded in 1984, Summit Partners has raised some $11 billion and invested in 300 companies. The firm has 85 staffers worldwide with offices in Boston, Palo Alto and London. The firm manages private equity, venture capital and subordinated debt funds.

The staff promotions come as deal activity has picked up at Summit Partners. Some 13 new portfolio companies were added in 2010. The bulk of these were tech focused including Accedian Networks, Avast Software, Casa Systems Cloudmark, Netwitness, Wildfire Interactive and Winshuttle.

The firm’s most recent investment was in the software company Hiperos. That investment flowed from the Summit Partners Venture Capital Fund II, which closed in 2006 with $310 million.