Fund: Summit Partners
Posted by Jasonamanda on 2008-04-17
I have been the CEO of a Summit portfolio company for more than five years. As I read these anonymous comments, I can't help feeling that for the most part they are either sour grapes just trying to hurt Summit's reputation or these folks just don't understand Summit's investment process. Summit invests in profitable, private companies and it's really not an insult to have them tell you "not now". None of the entrepreneurs that pick Summit necessarily need outside capital. For most, it's a strategic choice to get some liquidity, make some acquisitions, strengthen the balance sheet, and have a good partner who knows how to work with already successful companies. Summit has to go find entrepreneurs and get to know them over time. They call hundreds of companies and build relationships for many years -- that's what they did with me. And I can tell you first-hand that if you make the grade and happen to have them as your equity partner, there is no one better at supporting their CEOs and the companies in which they invest.
President & CEO