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JMI Equity Closes $300 Million Private Equity Fund
BALTIMORE, June 15 /PRNewswire/ -- JMI Equity, a leading private equity firm
focused on investments in the software and business services industries, today
announced the closing of its fifth fund, JMI Equity Fund V, L.P. (JMI V) with
$300 million of committed capital. JMI V will continue the successful strategy
of JMI's predecessor funds of investing in growing software and business
services companies across all stages of a company's lifecycle. JMI V brings
the firm's total capital under management to approximately $700 million.
"We are extremely pleased to have received continued support from our existing
investors and substantial interest from new investors," said Harry Gruner,
General Partner and Co-Founder of JMI Equity. "We are identifying attractive
investment opportunities in our sectors and plan to continue our tradition of
partnering with management teams to help market leading companies grow
rapidly."
JMI V is participating in the pending $1.1 billion buyout of DoubleClick, Inc.
(NASDAQ:DCLK), the leading provider of data and technology solutions for
marketers, advertising agencies and web publishers. The transaction, which is
being led by Hellman & Friedman, LLC, is expected to close in the third quarter
of 2005.
Since its founding in 1992, JMI Equity has invested in over 60 software and
business services companies across North America. Approximately half of all of
JMI's investments have completed initial public offerings or strategic sales.
The firm typically invests between $5 million and $20 million per investment.
JMI V will be managed by six general partners from its offices in Baltimore,
Md. and San Diego, Calif.
About JMI Equity
JMI Equity, based in Baltimore and San Diego, is a private equity firm
exclusively focused on investments in the software and business services
industries. Founded in 1992, JMI has invested in over 60 companies throughout
North America and has approximately $700 million of capital under management.
JMI invests in growing businesses. The firm's focus is on providing the first
institutional capital to self-funded companies. JMI also invests in select
recapitalization and management buyout financings. Representative investments
include Unica Corporation, Blackbaud, Inc., NEON Systems, Inc., META Group,
Inc., Jackson Hewitt, Inc., Transaction Systems Architects, Inc., Control Point
Solutions, Inc., NetPro Computing, Inc., Network Intelligence Corporation and
Panorama Software, Ltd. For more information on JMI Equity, visit
http://www.jmiequity.com/ .
DATASOURCE: JMI Equity
CONTACT: Chuck Dieveney, CFO of JMI Equity, +1-410-385-2691
Web site: http://www.jmiequity.com/