Rapid return to fundraising for JMI Equity as firm seeks up to $1.3bn for biggest vehicle yet


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.

Copyright © 2020 AltAssets

Get the latest PE News & Research delivered to your inbox every morning