Summit Partners

Last updated

Summit Partners, L.P.
Type Private
Industry Financial services
Founded1984;39 years ago (1984) [1] [2] [3]
Founder Roe Stamps [2]
Stephen Woodsum [2]
Gregory Avis [4]
Headquarters Boston, Massachusetts, U.S. [1] [2] [3]
Key people
Peter Chung (CEO) [5]
Products Private equity
Venture capital
Private credit
Public equity
AUM US$35 billion (2022)
Number of employees
191 (2022)
Website www.summitpartners.com
Footnotes /references
[6]

Summit Partners is an American investment firm based in Boston, Massachusetts. [1] [2] [3] The firm focuses on investing in technology, healthcare, life sciences and other growth industries. [1] [3] [7] [8]

Contents

Background

Summit Partners was founded in 1984 by Roe Stamps and Stephen Woodsum, who previously worked together at TA Associates. [2] [7] [8] [9] [10] Greg Avis would also join as a co-founder shortly after. [10] [4] The firm is considered one of the earliest private equity firms to focus on growth investing. [7]

In 2000, the three co-founders handed over daily management of the firm to five partners. [2] [4]

In 2015, the firm acquired Alydar Capital. [11] It now operates as the public equity investment arm of Summit Partners.

Summit Partners is headquartered in Boston with additional offices in Menlo Park, London and Luxembourg. [1] [2] [3] [8] [5]

Business overview

Summit Partners has three main business lines, which are: [1] [5]

The firm typically invests in later-stage companies that have already been established with the objective of providing further growth. [1] Its private equity investments typically range from $30 million to $500 million each, while its venture capital investments range from $5 million to $30 million each. [1] The firm also provides debt financing as well as public equities' investment services. [1]

Notable investments made by Summit Partners include Uber, [12] McAfee, Avast, [13] Infor, [14] Flow Traders, [15] and Arista Networks. [16]

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References

  1. 1 2 3 4 5 6 7 8 9 "Summit Partners, L.P." Dun and Bradstreet.
  2. 1 2 3 4 5 6 7 8 "E. Roe Stamps IV, MBA 1974 - Alumni - Harvard Business School". www.alumni.hbs.edu. January 2012.
  3. 1 2 3 4 5 "Summit Partners Investor Profile: Portfolio & Exits | PitchBook". pitchbook.com.
  4. 1 2 3 "New Williams Trustees Named". Office of Communications.
  5. 1 2 3 "Summit Partners Global Announces Promotions". www.businesswire.com. January 25, 2021.
  6. ↑ "Form ADV" (PDF). SEC. Retrieved November 24, 2022.
  7. 1 2 3 Cooper, Preeti Singh and Laura (August 12, 2021). "WSJ News Exclusive | Summit Partners Targets $7 Billion for Latest Growth Strategy". Wall Street Journal. ISSN   0099-9660 . Retrieved January 3, 2023.
  8. 1 2 3 "Summit Partners Raises $3.22 Billion for Two Venture Funds". Bloomberg.com. January 5, 2012. Retrieved January 3, 2023.
  9. ↑ "Summit Partners Surpasses $20 Billion in AUM with a Focus on Software/SaaS | The Software Report". TSR. August 7, 2017.
  10. 1 2 "Kellogg World Alumni Magazine, Summer 2009, Kellogg School of Management". www.kellogg.northwestern.edu. Retrieved May 26, 2021.
  11. ↑ "SEC FORM 13F-HR". www.sec.gov. Retrieved May 26, 2021.
  12. ↑ "Uber Raises Giant $1.2 Billion Funding Round At A $17 Billion Valuation". TechCrunch. June 6, 2014.
  13. ↑ "Summit Partners Pumps $100 Million Into Antivirus Software Maker AVAST Software". TechCrunch. August 23, 2010.
  14. ↑ "Infor Raises More Money, Finally Completes Lawson Transaction". IT Jungle. April 9, 2012.
  15. ↑ "Summit Partners invests in electronic trading firm Flow Traders | Hedgeweek". www.hedgeweek.com. June 4, 2008.
  16. ↑ June 6, 2014. "Arista Announces Pricing of Initial Public Offering". Summit Partners.{{cite web}}: CS1 maint: numeric names: authors list (link)
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