Spectrum News| October 2017
Spectrum Equity Closes Fund VIII at $1.25 Billion
Spectrum Equity, a leading growth equity firm, today announced the first and final closing of Spectrum Equity, VIII L.P. at a hard cap of $1.25 billion, in excess of the target of $1 billion. In connection with Fund VIII, Spectrum closed an additional $125 million for a Discretionary Overage Program, which will enable the firm to pursue larger transactions or follow on investments opportunistically.
The firm focuses exclusively on investments in information services, software and Internet companies. Similar to Spectrum’s prior funds, Fund VIII 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 of $25 million to $100+ million in a mix of control and minority transactions. The firm typically provides the first institutional capital to companies operating in industry verticals in which Spectrum has developed deep domain expertise and an established track record. Founded in 1994, the firm is led by Vic Parker, Chris Mitchell and Ben Spero.
In conjunction with the fund closing, the firm is pleased to announce the promotion of Adam Margolin to Managing Director and Leah Palmer to General Counsel. Adam Margolin joined Spectrum in 2005 and focuses on investments in software, data analytics and financial technology. He has been closely involved with Spectrum’s investments in Business Monitor International, Digital Marketing Institute, Ethoca, Trintech, Verafin, Verisys and World-Check. Leah Palmer joined the firm in 2015 and is responsible for a broad range of legal matters across new investments, existing portfolio companies and firm operations.
For additional information, please refer to Spectrum’s blog post.
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About Spectrum Equity
Spectrum Equity is a leading growth equity firm providing capital and strategic support to innovative companies in the information economy. For over 20 years, the firm has partnered with exceptional entrepreneurs and management teams to build long-term value in market-leading software, information services and Internet companies. Representative investments include Ancestry, Bats Global Markets, Definitive Healthcare, GoodRx, Grubhub, Jimdo, Lynda.com, SurveyMonkey, Teachers Pay Teachers and Verafin. For more information, visit www.spectrumequity.com.
The specific companies identified above may not represent all of Spectrum’s investments, and no assumptions should be made that any investments identified were or will be profitable. Past performance is not indicative of future results and there is a possibility of loss in connection with an investment in any Spectrum investment.
Content contained in this blog post is not intended to and does not constitute investment advice. Your use of the information in this blog post and materials linked is at your own risk. Spectrum Equity does not make any guarantee or other promise as to any results that may be obtained from using this content. No one should make any investment decision without first consulting his or her own financial advisor and conducting his or her own research and due diligence. Past performance is not indicative of future results, and there is a possibility of loss in connection with an investment in any Spectrum Fund. To the maximum extent permitted by law, Spectrum Equity disclaims any and all liability in the event any information, commentary, analysis, and/or opinions prove to be inaccurate, incomplete or unreliable, or result in any investment or other losses. The specific companies identified above does not represent all of Spectrum’s investments, and no assumptions should be made that any investments identified were or will be profitable.