Presentation of the Manager Summit Partners
Summary
Written transcription
Summit Partners is one of the leading Growth Equity & Growth Buyout firms in North America. It's a firm I know well since I first invested with them in 2008, so I've known them for 16 years.
Summit Partners like TA Associates a Fund manager our 2023 cohort—a firm that pioneered the direct sourcing approach known as “cold calling,” which involves proactively reaching out to executives at high-growth companies to build strong relationships with them so that Summit will be their first choice when they decide to sell a minority or majority stake in their company. Summit invests in companies that typically grow by about 50% per year, so their value creation is based on very strong organic growth, supplemented by external growth. Its target sectors are primarily technology and healthcare, but also services and the consumer sector.
The team is made up of 19 partners who have been with the firm for an average of over 18 years - one of the most stable teams on the market, with a senior management team that is both highly experienced and still young.
Finally, they have a 40-year track record with excellent performance. The mature Summit Partners Equity funds have generated an average return of 2.9x net investment and a 33% IRR . If we exclude the best-performing and worst-performing funds from our calculation, the average return remains high at 2.5x net investment and a 27% IRR .
Altaroc Odyssey 2024 has committed to the Summit Partners Growth Equity Fund XII with a target size of $9 billion.
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