Spectrum Equity Investors was founded in 1994. Spectrum Equity Investors is a private equity firm specializing in middle market, leveraged buyouts, recapitalizations and dividends, acquisition financings for growth either organically or by acquisition, and privately negotiated investments in public companies in independent private companies or divisions of larger companies. The firm seeks to invest in the media, communications, entertainment, software, information technology, information and business services, and related growth sectors. It targets investments in companies based in North America and Western Europe. The firm typically, makes investments between $30 million and $150 million and can also make underwriting of a much larger equity amount in conjunction with limited partners. It prefers to be a lead investor, either as a minority or majority investor and acquires a board seat in its portfolio companies. The firm also assists its portfolio companies with debt and equity financings. It seeks to invest in the form of secondary share purchases from early shareholders.