Summit Partners Growth

Summit Subordinated Debt Fund IV, L.P.

NET IRR

9.7%

TVPI

1.35x

DPI

1.35x

COMMITMENT

$50M

LP SOURCES

2

VALUATION SPREAD1.35x – 1.64x TVPI across 2 sources

CROSS-REFERENCE TABLE

LP SOURCEAS OFCOMMITMENTPAID INNET IRRTVPIDPIDOC
Minnesota SBI2025-12-31$50M$56.1M9.7%1.35x1.35xSOURCE ↗
CalSTRS2025-06-30$40M$24.9M9.7%1.64x1.62xSOURCE ↗