Largest Fund to Date for Enterprise Technology Growth Capital Firm

Sumeru Equity Partners (Sumeru), a leading technology-focused growth capital firm, today announced the closing of Sumeru Equity Partners Fund IV at the hard cap with $1.3 billion in total capital commitments. The total amount raised significantly exceeded Sumeru’s $1.0 billion target and is nearly double its predecessor fund.

Sumeru Fund IV will follow the firm’s established model of providing growth capital, scaling partnership, and operating expertise to leading enterprise technology companies in North America and Europe. The firm partners with founders and management to scale their businesses through the Sumeru Growth Program, prioritizing organic growth levers across product leadership, go-to-market acceleration and growth culture. Sumeru has invested in over fifty platform and add-on investments across enterprise and vertical SaaS, data analytics, education technology, infrastructure software and cybersecurity.

“We are grateful to our existing and new investors for their commitments in closing our largest fund to date. Sumeru has a history of supporting innovation and we are proud to have the confidence of a terrific group of like-minded investors in our new fund,” said Kyle Ryland, Managing Partner at Sumeru. Added Randy Randleman, Chief Operating Officer, “Their commitment to Sumeru in a competitive fundraising environment testifies to the strength of our team, our investment strategy and our track record.”

Sumeru’s successful fundraise caps an active past year for the firm with key events including:

• Strategic investments in beqom and iProov
• The sales of Tasktop to Planview and Actian to HCL
• Fourteen new hires and opening a second office in New York City
• The 3^rd annual Sumeru Fellows program (over 60 alumni since inception)
• Sanjeet Mitra’s promotion to Managing Partner to co-lead the firm alongside Kyle Ryland
• Becoming a signatory to the UN Principles of Responsible Investing

Lazard served as placement agent and Kirkland & Ellis served as fund counsel.

About Sumeru Equity Partners

Sumeru Equity Partners (“Sumeru”) provides growth capital at the intersection of people and innovative technology. Sumeru seeks to embolden innovative founders and management teams with capital and scaling partnership. Sumeru’s portfolio includes leading growth-stage companies in sectors ranging from enterprise and vertical SaaS applications, data analytics and education technology to infrastructure software, and cybersecurity. The firm typically invests $50-200 million per transaction in North America and Europe. For more information, please visit www.sumeruequity.com.

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