Summit Partners Raising $3B Growth Equity, $450M Venture Funds–CORRECTED

Summit Partners is raising $3.45 billion in investment capital in two news funds, according to documents filed with the Securities and Exchange Commission. (Correction: the original version of this story misstated the size of the funds and failed to point out that one was growth equity.)

The Boston firm with offices in London and Palo Alto already has more than $11 billion under management and investments in more than 320 companies.

The firm most recently raised a $1.64 billion European fund last year and a pair of subordinated debt funds totaling $841 million in 2009, according to Thomson Reuters, publisher of this blog.

The two new funds are the Growth Equity Fund VIII at $3 billion and the $450 million Venture Capital Fund III, the documents state. The firm has assigned the same venture partners to each.

Summit did not respond to a request for comment.

In the past, Summit investments have favored computer software, Internet companies, communications and health care companies.