JMI Equity, Based in San Diego & Baltimore, Raises $875M for Seventh Fund

JMI Equity, the private equity firm that bears the initials of software magnate John Moores (Inc.), says it has closed its seventh investment fund after raising a total of $875 million. In a statement today, the firm says with the closing of JMI Equity VII, it has raised over $2.1 billion since it was founded 18 years ago by Moores, who was a co-founder and the “M” in Houston-based BMC Software. JMI is based in San Diego and Baltimore.

JMI Equity has generally focused its investments on well-established software, internet, business services, and healthcare IT companies. JMI says it provides capital for growth, recapitalizations, acquisitions, and buyouts, and its new fund will invest mostly in North American companies, targeting equity investments of $10 million to $100 million each.

The firm had a substantial investment in DoubleClick, the New York digital marketing company acquired by Google for $3.1 billion in 2008. JMI says its other representative investments include Blackbaud, Eloqua, Navicure, Nimsoft, and

“With JMI VII, we will continue to pursue the same focused strategy that we have successfully employed for the last 18 years,” Paul Barber, JMI’s San Diego managing general partner, says in the statement.

Barber is a director at San Diego-based, as well as Activant Solutions, Datatel, Intergraph Corp., Kronos, and TC3 Health. He joined JMI in 1998 from Alex. Brown, where he was a managing director and head of the firm’s software investment banking practice. He also worked in product marketing at Microsoft and in investment banking at Merrill Lynch.

Bruce V. Bigelow was the editor of Xconomy San Diego from 2008 to 2018. Read more about his life and work here. Follow @bvbigelow

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