Baltimore-based software-focused growth capital firm JMI Equity is reportedly looking to raise $900m for its new fund.
JMI Equity Fund VIII is expected to be oversubscribed and hit its $1bn hard cap, said Dow Jones, citing people with knowledge of the matter.
The vehicle follows JMI’s seventh fund, which held a final close on $875m in 2010, up 45 per cent from its 2007-vintage previous fund.
The firm targets North American businesses, investing between $10m and $100m per deal. Since its launch in 1992 it has invested in more than 100 businesses in its target sectors.
JMI’s recent deals include the sale of online media and software services provider Internet Brands to KKR.
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