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JMI raises $875m for latest fund

30 Nov 2010

JMI Equity has raised its largest fund to date, netting $875m from investors for its seventh fund and exceeding its $800m target.

The sum raised represents a 45 per cent increase on JMI’s previous fund, which brought in $600m at the height of the boom in 2007.

The US growth equity firm targets deals from $10m to $100m in value, including both minority stakes and buy-outs in software and business services companies.

The Baltimore-based company’s investments have included online advertising technology provider DoubleClick, which was sold on to Google, and software supplier Kronos.

In March JMI exited cloud computing company Nimsoft, in which it had invested alongside Scandinavian venture capital firm Northzone Ventures and Goldman Sachs, in a $350m sale.

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