(BOSTON, MA and MENLO PARK, CA) July
10, 2014 -Spectrum Equity, a leading growth equity firm, today
announced the final close of Spectrum Equity VII, L.P. at the hard
cap of $1 billion, in excess of the fund target of $800
Spectrum focuses exclusively on information services, digital
media, software and Internet companies. Consistent with prior
funds, Fund VII will provide growth equity to companies that have a
proven, scalable business model and exhibit high growth with
"We greatly appreciate the support that we have received from
our existing investors and a select group of new limited partners
in Fund VII," said Vic Parker, Managing Director. "We believe
this reflects confidence in our consistent performance of
delivering strong returns to investors."
"As Spectrum celebrates its 20th anniversary, we are
well-positioned to leverage our industry depth, dedicated
origination capabilities and skill set for both minority and
control growth equity opportunities," said Chris Mitchell, Managing
Director. "Our team's specialized investment approach
resonates with entrepreneurs and we are excited to work with them
to scale their companies."
Proskauer Rose served as fund counsel.
About Spectrum Equity
Founded in 1994 with offices in Boston and Menlo Park, Spectrum
is a leading growth equity firm that provides capital and strategic
support to its portfolio companies. Spectrum has invested in over
120 companies in the last 20 years - representative investments
include Ancestry.com, BATS, GrubHub, Lynda.com, Passport Health,
RiskMetrics Group, SurveyMonkey and World-Check. For more
information about Spectrum, including a complete list of
investments, visit www.spectrumequity.com.
For Information contact:
Matt Benson / David Isaacs
Sard Verbinnen & Co