JMI Equity Closes $3.1 Billion JMI XII Fund
Funding | Aug 11, 2025 | JMI Management Inc
JMI Equity, a prominent growth equity software investor, announced the final close of its twelfth flagship fund, JMI Equity Fund XII, at $3.1 billion. The fund was significantly oversubscribed, reaching its cap just four months after its launch. This milestone enhances JMI's total capital commitments to over $11 billion. The demand for the fund highlights investor confidence in JMI's long-standing strategy of focusing on growth-stage software investments, especially in sectors like education, finance, healthcare IT, and more. JMI aims to target investments from $40 million to over $400 million in high-growth B2B software companies. Additionally, JMI has promoted Preston Horner and Andy Knox to Principal and Will Priestley to Vice President, recognizing their contributions. Since its inception in 1992, JMI has invested in over 190 software companies and completed more than 120 exits, with a current portfolio representing $84 billion in aggregate enterprise value. Proskauer Rose LLP served as legal counsel for the fund's formation.
Sectors
- Software Industry
- Private Equity & Venture Capital
Geography
- United States – JMI Equity operates primarily in North America, with headquarters in Baltimore and San Diego, and a focus on investments across the United States.
Industry
- Software Industry – The article focuses on JMI Equity's investments in growth-stage software companies, a key aspect of their strategy.
- Private Equity & Venture Capital – JMI Equity is a private equity firm specializing in capital investments in B2B software companies, as discussed in the article.
Financials
- $3.1 billion – The total capital closed for JMI Equity Fund XII.
- $11 billion – JMI Equity's total capital commitments to date.
- $40 million to $400+ million – Target investment range per company for JMI XII.
- $84 billion – Aggregate enterprise value of JMI's current portfolio companies.
- $10 billion – Combined revenue of JMI's current portfolio of industry-leading cloud software companies.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| JMI Equity | Private Equity Firm | Company | A growth equity firm investing in software companies, with significant experience and capital commitments. |
| Peter Arrowsmith | Managing Partner | Person | Managing Partner at JMI Equity, involved in the announcement of the fund closing. |
| Proskauer Rose LLP | Legal Counsel | Company | Provided legal counsel for the formation of JMI Equity Fund XII. |
| Preston Horner | Principal | Person | Recently promoted to Principal at JMI Equity. |
| Andy Knox | Principal | Person | Recently promoted to Principal at JMI Equity. |
| Will Priestley | Vice President | Person | Recently promoted to Vice President at JMI Equity. |