Business, Investments

Tech-focused PE firm Spectrum Equity Secures USD 1B

Tech-focused private equity firm, Spectrum Equity has raised USD 1 billion for its seventh fund with an aim to made investments in information technology services, as reported by Reuters. In 2008, it had secured USD 1.3 billion for its sixth round  from unknown investors focused on investing in information, digital media, software and Internet companies.

Also Read: Amino closes USD 1.65 million to Exchange Old-School Forum with Mobile Communities

Till date, including this round, Boston and Menlo Park, California-based Spectrum equity has received a total capital of USD 5.7 billion. Launched in 1994 by Founder & Senior Managing Director Brion B. Applegate and William P. Collatos. It has made investments in 18 companies such as USD 60M in Verafin, USD 77.5M in MedHok, USD 50M in Extreme Reach, USD 103M in Lynda.com and an undisclosed amount in ExamSoft Worldwide, Bats Global Market, FinalSite and much more.

The firm consisting of 32 members in its team and seek opportunities to invest USD 25 to 100 million in growth companies with significant operating leverage, strong cash flow margins, and franchise customer loyalty.

Read More:  #Fundingwire - 91springboard Raises Fresh Funds; Innovaccer Closes $15.6M in Series A & More

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