BOSTON, August 1, 2022 – Proskauer, a leading international law firm, is pleased to share that it advised growth equity firm Spectrum Equity on the formation of its latest fund, Spectrum Equity X, L.P. (“Fund X”), which closed at a hard cap of $2 billion. The Firm also advised Spectrum on the closing of its $200 million Discretionary Overage Program, which will allow Spectrum to pursue larger transactions or follow-on investments.
Spectrum Equity, a long-standing client of the Firm, provides capital and strategic support to internet-enabled software and data services companies across a range of industries. Consistent with Spectrum's prior funds, Fund X will invest in rapidly growing companies with scalable business models, persistent customer relationships, and emerging market leadership.
The Proskauer team was led by partners Brian S. Schwartz, Robin Painter, and Scott S. Jones (Private Funds). It also included associates Ryan M. Carpenter, John A. Beck, Maegan E. O’Rourke, Celeste (Jisoo) Kim, Philip Lenertz and Megan A. Medeiros (Private Funds).
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