JMI Equity

JMI Equity is a prominent growth equity firm established in 1992, specializing in investments within the business-to-business (B2B) software sector. With offices in Baltimore, MD, and San Diego, CA, the firm has built a reputation for partnering with high-growth software companies that possess proven business models and significant recurring revenue streams. Their investment philosophy centers on providing capital and strategic guidance to help these companies scale operations, expand market reach, and enhance product offerings.

JMI Equity primarily targets growth-stage companies, typically those with enterprise values ranging from $50 million to $500 million. The firm is known for its flexible investment approach, often taking significant minority stakes or leading recapitalizations. Their typical initial equity investment per company ranges from $20 million to $200 million. This substantial check size allows them to support companies through various growth phases, including product development, sales and marketing expansion, and strategic acquisitions.

Over its three-decade history, JMI Equity has demonstrated a strong track record of successful investments and exits. The firm has raised substantial capital, with its most recent fund, JMI Equity Fund XI, closing at $2.4 billion in 2023, following JMI Equity Fund X which closed at $1.7 billion in 2020. This significant capital base underscores their capacity for large-scale investments and long-term partnerships. Notable past investments include early stakes in industry leaders like Workday and ServiceNow, both of which achieved successful public listings, showcasing JMI's ability to identify and nurture transformative software businesses. Their deep sector expertise and operational support are key differentiators, helping portfolio companies navigate the complexities of rapid growth.