JMI Equity Rockets Past Fund XI Goal to Raise $2.4B for 11th Growth Fund

JMI Equity, a B2B software-focused growth equity firm, closed on commitments of $2.4 billion across two new funds, including its flagship JMI Equity Fund XI and JMI XI Executive Fund. The oversubscribed equity fund is the 11th for JMI and brings the Baltimore-based firm’s total commitments to more than $8 billion since inception in 1992.

The fund will make both minority and majority shareholder investments ranging from approximately $25 million to $250 million focusing largely on North American companies. To date, JMI XI has completed investments in three companies – Businessolver, Visiting Media, and Unanet.

Co-led by managing general partners Harry Gruner and Peter Arrowsmith, JMI has invested in over 180 software businesses in North America and Europe and completed over 115 exits.

“We look forward to continuing to partner with the next generation of software company founders, entrepreneurs, and management teams to help them navigate this evolving landscape and create businesses of enduring value,” said Arrowsmith.

Proskauer Rose LLP served as legal counsel in the formation of JMI XI.