Summit Partners

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]

Summit Partners, L.P.
TypePrivate
IndustryFinancial services
Founded1984 (1984)[1][2][3]
FounderRoe Stamps[2]
Stephen Woodsum[2]
Gregory Avis[4]
HeadquartersBoston, Massachusetts, U.S.[1][2][3]
Key people
Peter Chung (CEO)[5]
ProductsPrivate equity
Venture capital
Private credit
Public equity
AUMUS$35 billion (2022)
Number of employees
191 (2022)
Websitewww.summitpartners.com
Footnotes / references
[6]

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]

References
  1. "Summit Partners, L.P." Dun and Bradstreet.
  2. "E. Roe Stamps IV, MBA 1974 - Alumni - Harvard Business School". www.alumni.hbs.edu. January 2012.
  3. "Summit Partners Investor Profile: Portfolio & Exits | PitchBook". pitchbook.com.
  4. "New Williams Trustees Named". Office of Communications.
  5. "Summit Partners Global Announces Promotions". www.businesswire.com. 2021-01-25.
  6. "Form ADV" (PDF). SEC. Retrieved 24 November 2022.
  7. Cooper, Preeti Singh and Laura (2021-08-12). "WSJ News Exclusive | Summit Partners Targets $7 Billion for Latest Growth Strategy". Wall Street Journal. ISSN 0099-9660. Retrieved 2023-01-03.
  8. "Summit Partners Raises $3.22 Billion for Two Venture Funds". Bloomberg.com. 2012-01-05. Retrieved 2023-01-03.
  9. "Summit Partners Surpasses $20 Billion in AUM with a Focus on Software/SaaS | The Software Report". TSR. 7 August 2017.
  10. "Kellogg World Alumni Magazine, Summer 2009, Kellogg School of Management". www.kellogg.northwestern.edu. Retrieved 2021-05-26.
  11. "SEC FORM 13F-HR". www.sec.gov. Retrieved 2021-05-26.
  12. "Uber Raises Giant $1.2 Billion Funding Round At A $17 Billion Valuation". TechCrunch. 6 June 2014.
  13. "Summit Partners Pumps $100 Million Into Antivirus Software Maker AVAST Software". TechCrunch. 23 August 2010.
  14. "Infor Raises More Money, Finally Completes Lawson Transaction". IT Jungle. 2012-04-09.
  15. "Summit Partners invests in electronic trading firm Flow Traders | Hedgeweek". www.hedgeweek.com. 2008-06-04.
  16. June 06, 2014. "Arista Announces Pricing of Initial Public Offering". Summit Partners.
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