Software-focused private equity house JMI Equity is back in the market with its tenth flagship fundraise, less than two years after hauling in $1.2bn for its predecessor vehicle.
The firm is aiming to raise up to $1.3bn for Fund X according to a filing it submitted to the US Securities and Exchange Commission, although it is unclear if this is a target or a hard cap figure.
JMI has raised $4bn since it was founded in 1992, targeting software companies with proven business models, rich intellectual property, high recurring revenue and long-term growth potential.
The San Deigo-based firm typically invests between $15m and $125m per deal.
Investments from the firm this year include repeat backing of AlertMedia, an emergency communication software provider, through a $15m Series C funding round.
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