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Summit Partners
Summit Partners
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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]

Key Information

Background

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Summit Partners was founded in 1984 by Roe Stamps and Stephen Woodsum, who previously worked together at TA Associates.[2][7][8][9] Greg Avis would also join as a co-founder shortly after.[9][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. It now operates as the public equity investment arm of Summit Partners.[10]

In January 2024, it was reported that Summit Partners' credit arm ceased making new investments after it struggled with its latest fundraising due to poor performance of its credit funds. The credit business is seen as an awkward fit for Summit Partner which focuses on growth equity and the firm had previously tried to sell credit business in the previous year.[11]

Summit Partners is headquartered in Boston with additional offices in Menlo Park, London and Luxembourg.[1][2][3][8][5]

Business overview

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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] Doctrine[16] and Lifestance Health.[17]

References

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  1. ^ a b c d e f g h i "Summit Partners, L.P." Dun and Bradstreet.
  2. ^ a b c d e f g h "E. Roe Stamps IV, MBA 1974 - Alumni - Harvard Business School". www.alumni.hbs.edu. January 2012. Archived from the original on July 12, 2019. Retrieved May 25, 2021.
  3. ^ a b c d e "Summit Partners Investor Profile: Portfolio & Exits | PitchBook". pitchbook.com. Archived from the original on May 26, 2021. Retrieved May 26, 2021.
  4. ^ a b c "New Williams Trustees Named". Office of Communications. Archived from the original on May 26, 2021. Retrieved May 26, 2021.
  5. ^ a b c "Summit Partners Global Announces Promotions". www.businesswire.com. January 25, 2021.
  6. ^ "Form ADV" (PDF). SEC. Archived (PDF) from the original on May 29, 2022. Retrieved November 24, 2022.
  7. ^ a b c Cooper, Preeti Singh and Laura (August 12, 2021). "Summit Partners Targets $7 Billion for Latest Growth Strategy". Wall Street Journal. ISSN 0099-9660. Archived from the original on January 3, 2023. Retrieved January 3, 2023.
  8. ^ a b c "Summit Partners Raises $3.22 Billion for Two Venture Funds". Bloomberg.com. January 5, 2012. Retrieved January 3, 2023.
  9. ^ a b "Kellogg World Alumni Magazine, Summer 2009, Kellogg School of Management". www.kellogg.northwestern.edu. Archived from the original on May 26, 2021. Retrieved May 26, 2021.
  10. ^ "SEC FORM 13F-HR". www.sec.gov. Archived from the original on May 26, 2021. Retrieved May 26, 2021.
  11. ^ James, Rod (January 4, 2024). "Summit Partners Halts New Deals in Booming Credit Market". Wall Street Journal. ISSN 0099-9660. Archived from the original on October 4, 2024. Retrieved February 7, 2025.
  12. ^ "Uber Raises Giant $1.2 Billion Funding Round At A $17 Billion Valuation". TechCrunch. June 6, 2014. Archived from the original on May 25, 2021. Retrieved May 25, 2021.
  13. ^ "Summit Partners Pumps $100 Million Into Antivirus Software Maker AVAST Software". TechCrunch. August 23, 2010. Archived from the original on May 25, 2021. Retrieved May 25, 2021.
  14. ^ "Infor Raises More Money, Finally Completes Lawson Transaction". IT Jungle. April 9, 2012. Archived from the original on May 25, 2021. Retrieved May 25, 2021.
  15. ^ "Summit Partners invests in electronic trading firm Flow Traders". www.hedgeweek.com. June 4, 2008.
  16. ^ "Legaltech : Doctrine rachetée par le fonds américain Summit Partners". Les Echos (in French). April 11, 2023. Archived from the original on August 29, 2024. Retrieved August 29, 2024.
  17. ^ Landi, Heather (June 15, 2021). "Mental health provider LifeStance Health valued at more than $7B as stock jumps following IPO | Fierce Healthcare". www.fiercehealthcare.com. Retrieved March 6, 2025.
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