Spectrum Equity Closes Fund IX at $1.5 Billion

Boston and San Francisco - Spectrum Equity, a leading growth equity firm, today announced the closing of Spectrum Equity IX L.P. at a hard cap of $1.5 billion. In addition, Spectrum closed its second Discretionary Overage Program at $150 million, enabling the firm to pursue larger transactions or follow on investments opportunistically.

The firm focuses exclusively on investments in internet-enabled software and information services companies. Similar to Spectrum's prior funds, Fund IX will provide capital to companies with proven, scalable business models and which exhibit high growth with persistent customer relationships. Spectrum makes growth equity investments ranging in size from $25 million to $150-plus million in a mix of control and minority transactions. The firm is the lead investor in capital efficient companies operating in industry verticals in which Spectrum has developed deep domain expertise and an established track record.

The firm is led by Vic Parker, Chris Mitchell and Ben Spero. "We deeply appreciate the continued support from our investors. We believe the strong demand for Fund IX reflects confidence in our commitment to proactive origination, our focus on resilient, highly recurring revenue businesses and the ability to produce distinctive returns over many cycles. And in times of macroeconomic uncertainty like the present, we rely on the consistent execution of our growth equity investment strategy more than ever,” they said.

“For over 25 years, our specialized investment approach has resonated with world-class founders and entrepreneurs. Our partnerships with portfolio company management teams serve as the foundation to the success of our value creation efforts. We are grateful that they continue to entrust us to support their next stage of growth and navigate unforeseen challenges that may arise.”

Proskauer served as fund counsel.

For more information about Spectrum Equity and Fund IX, please see our related blog post here.

The specific companies identified above do not represent all of Spectrum’s investments, and no assumptions should be made that any investments identified were or will be profitable. View the complete list of our portfolio companies. Spectrum is not responsible for the contents of any third party website linked above, and has not confirmed the accuracy of any information provided therein.