Summit Partners Raises $520 Million Credit Fund For Growth Companies

Lately investing in Rocket Fuel, WestWing and Delphix so far this year, Summit Partners has been stepping up to the plate and is now joining the ranks of this Post-Facebook-IPO era of VCs which are raising capital for so-called middle-market companies who are still a ways off the IPO track. They also had a recent exit in the form of Wildfire's acquisition by Google. Summit has today announced it's raised a $520 million credit fund for these growth companies. That brings Summit?s total equity and credit capital base to nearly $15 billion. The fund will be run in Boston by Managing Directors Todd Hearle and Jamie Freeland who joined Summit in 2010.

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