JMI Equity closed JMI Equity Fund X, its latest growth equity fund, at its hard cap of $1.7 billion.
The previous fund, JMI Equity Fund IX, closed at $1.2 billion in 2018.
The fund makes investments of $20 million to $200 million in best-in-class software businesses, according to a news release Monday.
Investors include the $86.9 billion Massachusetts Pension Reserves Investment Management Board, Boston, and the $27.4 billion New Mexico State Investment Council, Santa Fe.
