Independent rating of Summit Partners VC fund
Overall rating:
14 reviews
About Summit Partners VC fund
Website:
Founded:
1984
Number of funds:
24
Number of investments:
413
Number of exits:
255
Headquarters:
Organization type:
Private Equity Firm, Venture Capital
How Summit Partners VC fund invests
Rounds:
Average ticket size:
44.9M USD
Biggest investment:
91.4M USD
Would lead round:
Yes
Would coinvest:
Yes
Countries where invested:
Sectors of interest:
Software, E-Commerce, Analytics, Medical Device, Marketing Automation, Human Resources, Health Care, Business Intelligence, Subscription Service, SaaS, Predictive Analytics, Open Source, Mobile Payments, Messaging, Marketing, Machine Learning, Lifestyle, Information Technology, Information Services, Hospital, Health Diagnostics, Education, EdTech, Consumer Reviews, Collaboration, CRM, Big Data, Artificial Intelligence, Advertising
Founders' reviews of Summit Partners VC fund
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Older than a year by non-portfolio founder
Cold Call, Friendly and Helpful
We have been receiving about two to three cold e-mails per day from VC's since making the Inc. list this year. Ignored most due to cookie cutter messages or no reply when asked for a little more information. Got the form e-mail from Daniel at Summit and would have passed it on, however, he referenced a few items from our website and knew enough to discuss synergistic companies in their portfolio. Had about a fifteen minute call, very clear that we are not the right fit for each other currently from the start, but a friendly discussion and an offer for a helpful introduction. Great use of fifteen minutes in my mind and much better than most of the calls I have had.
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Older than a year by non-portfolio founder
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Email Contact From Summit
Received a cold email from someone who apparently is an associate. We are not actively raising now but dont mind briefing people in general on what we are doing for future reference. We are also an east coast company interested in being based eventually on the west coast with the right partners.
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Older than a year by non-portfolio founder
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A Very Good Partner
If you can make the cut, Summit can be a very good partner in your business. The companies that they invest in are typically profitable, fast growing, and have crossed a certain revenue threshold.
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Horrible Group to Deal with Even if You're a Late Stage Co
In my opinion they are not a good group to pitch.
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Save Your Energy if You're Not Profitable
We should have known, but steer clear of associates if they call you out of the blue. A complete waste of our time.
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Older than a year by non-portfolio founder
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Disappearing Team
Our company pitched Summit Partners on an investment opportunity in the digital media space. While they expressed significant interest initially, they fell off the map shortly thereafter. After a few persistent phone calls I discovered that three members (out of five) of their Internet media team had left the firm. So, not only was our deal going nowhere with this group, they didn’t have a group to move forward with. One other note â€" Summit Partners is a venture capital firm that wants to be a private equity firm. This leads to them to look at growth equity deals, but they are really still seeking a venture return.
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A Great Pe/VC if You Can Make the Grade
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.
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And the Cold Calling Continues
I can only agree with all the cold calling victims in this thread. I had exactly the same experience in Europe. One nice thing though: they always responded professionally to my e-mails.
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Older than a year by non-portfolio founder
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They Waste 5 Hours of My Time Every Year.
I get repeated cold calls from this company about once a quarter. They don't seem to know much about us and are eager to pump us for private financial information, yet they provide nothing in return.
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Associates and Cold Calls
I agree with a lot of the comments here. I've gotten the cold call and the exact spam email from these "cold calling" fools. I even spoke to an associate and set up a meeting in Boston. He was super pumped and had the GPs lined up . Cancelled it after he saw that we hadnt done $1mm in PROFIT yet.
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Cold Calling Fools
Agree with above comments on the associates banging out leads. They've been contacting me for over a year saying how excited they are to participate "in our space" yet they haven't made any investments in the space.
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Associates & Cold Calls & Lead Quota
chalk one up for associates making cold calls to fulfill the lead quota.
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Unimpressed
Most of the action I've seen came from associates trying to fill the leads quota. The associates I spoke with (they been cold-calling us persistently) had little to no knowledge and basically wrote down whatever I told them without understanding the market or the business and without any meaningful questions.
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Straightforward
Upon speaking with them they were very excited about our project. They only begin communications with companies with revenues of $5,000,000 plus. They were great to deal with.