JMI Equity closed a $1 billion growth equity fund targeted at investing in software companies and services companies, it announced Wednesday.
The fund is the largest raised by JMI, a private equity firm operating out of offices in Baltimore and San Diego. The firm has raised more than $3.1 billion in committed capital since its founding in 1992. The largest fund JMI previously closed on was an $875 million fund completed in November 2010.