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JMI Equity Raises $1.2B for Ninth Fund

JMI Equity, a private equity firm with headquarters in Baltimore and San Diego, closed its ninth fund after raising $1.2 billion, the company announced Dec. 11. Both new and existing investors contributed to the fund.

Named after John Moores, who founded BMC Software and helped build cloud computing company ServiceNow, JMI Equity primarily invests in fast-growing software companies. It typically invests in companies with between $10 million and $200 million in revenue.

With the new fund, JMI Equity will still focus on investing in software companies, providing investments from $15 million to $100 million in exchange for a minority stake or controlling stake.

“We’re grateful for the partnership of our investors and management teams,” Paul Barber, co-managing general partner of JMI, said in a news release. “With our focus, disciplined approach, and commitment to excellence, the JMI Equity team is committed to continue executing against our strategy in JMI IX.”

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Some of JMI Equity’s past investments include Adaptive Insights, which was acquired by Workday; Capsule Technologies, which was acquired by Qualcomm; and of course, ServiceNow, which brought in $209.7 million in an initial public offering.

To date, JMI Equity has invested in more than 140 businesses and raised $4 billion in capital.

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