JMI Equity Closes $600 Million Private Equity Fund
JMI Will Continue its Multi-Stage Investment Strategy Exclusively Focused on Growing Software and Business Services Companies
Baltimore, MD and San Diego, CA – July 27, 2007 – JMI Equity, a private equity firm exclusively focused on providing growth capital to software and business services companies, today announced the closing of its sixth fund, JMI Equity Fund VI, L.P. (JMI VI) with $600 million of committed capital. JMI, which now has approximately $1.3 billion of committed capital under management, will continue providing the first institutional capital to self-funded companies, partnering with management teams to acquire or recapitalize market leading companies and selectively making investments in early-stage companies.
“We are extremely pleased with the continued support from our long-standing investors as well as the substantial interest from new investors,” said Harry Gruner, General Partner and Co-Founder of JMI. “We continue to identify attractive opportunities where we can partner with entrepreneurs at market leading companies to help grow their businesses rapidly.”
“We have benefited from JMI’s focused, multi-stage investment approach and we are pleased to be a part of JMI VI,” said James R. Chambliss, Director at Pathway Capital Management, L.L.C. “JMI has a talented investment team that understands the software and services industries well. We are excited to have the opportunity to continue our relationship with them.”
The General Partners for JMI VI are Mr. Gruner, Peter Arrowsmith, Paul Barber, Bob Smith and Brad Woloson, as well as Chuck Dieveney, who was recently appointed as a General Partner and will continue to serve as JMI’s Chief Financial Officer. With the help of JMI’s 15 additional investment professionals, the General Partners will seek to make investments of $10 million to $50 million in growing software and business services companies. JMI VI made its first investment earlier this month when it co-led the recapitalization of Appriss, Inc., a leading provider of software applications to local, state and Federal criminal justice and law enforcement agencies.
The investors in JMI VI include leading public and private pension funds, fund of funds, endowments, foundations and financial institutions.
Goodwin Procter LLP served as legal counsel in the formation of JMI VI.
About JMI Equity
JMI Equity, based in Baltimore and San Diego, is a private equity firm exclusively focused on investments in growing software and business services companies at all stages of their lifecycles. Founded in 1992, JMI has invested in more than 85 companies throughout North America and has approximately $1.3 billion of committed capital under management. JMI provides the first institutional capital to self-funded companies, partners with management teams to acquire or recapitalize market leading companies and selectively makes investments in early-stage companies. Representative investments include Blackbaud, DoubleClick, DriveCam, Jackson Hewitt, Mission Critical Software, NEON Systems, Transaction Systems Architects, Unica Corporation and Vertafore. For more information on JMI Equity, visit www.jmiequity.com.
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Investor Contact:
Chuck Dieveney
JMI Equity
410-951-0206
Media Contact:
Chuck Dohrenwend
The Abernathy MacGregor Group
212-371-5999
