JMI Equity partner, software expert steps down after 14 years

Sureel Sheth, a general partner at software investor JMI Equity and an expert in digital health, life sciences, legal and human capital management technologies, left the firm last week.

The departure comes just over a year after the firm announced the closing of its eleventh flagship fund at $2.4 billion.

“As investors, we coach our CEOs to invest in high-performance teams. Given the choice between feeling like a family or feeling like a championship team, the answer is almost always the latter,” wrote Sheth in a Linkedin post announcing his departure. “For the past 14 years, I had the good fortune of not having to make that choice, as I always felt both.”

Sheth began working as a senior associate at JMI Equity in 2010 after working as a business analyst at McKinsey & Co. He worked his way up to vice president and principal before becoming a general partner in 2022. Neither Sheth nor a company executive could be reached for comment by press time to learn more about the reason for his departure or his plans.

Accomplished Investor: While at JMI Equity, Sheth sourced and evaluated investment opportunities, while also supporting portfolio companies with strategic and operational advice. He has served as a director of accounting platform Ignition. He also served as a board observer at several portfolio companies, including legal technology firm Clio, health practice management specialist Jane Software, e-learning content marketplace OpenSesame, electronic health record software firm PointClickCare, manufacturing plant management platform SafetyChain and talent recruiting software firm Yello.

Leadership Team: Sheth was among about a dozen partners, including Managing Partner Peter Arrowsmith, at the growth equity firm, which is based in Baltimore and has offices in San Diego and Washington, D.C. His colleagues included Partner Matt Emery, who recently was recognized by advisory firm GrowthCap as a top healthcare investor. Founded in 1992 by Harry Gruner and Charles Noell, JMI Equity employs roughly at least 70 people.

Software Specialist: JMI Equity invests in software companies across several sectors, and has at least 48 active portfolio companies. All told the firm has made more than 180 investments and completed 115 exits. It managed more than $8.69 billion in regulatory assets at the end of 2023.