Growth equity is private investment in established but still-growing companies, typically structured as minority stakes (10-40% ownership). Target companies have proven business models and meaningful revenue ($20M-$200M typically) and are often profitable or near-profitable. The capital is used to accelerate growth in working businesses rather than to fund risky early-stage development, with growth equity sitting between venture capital (earlier stage, smaller checks, higher risk) and private equity buyouts (control investments, often debt-heavy, mature companies), and being the dominant capital source at growth-stage tech companies. Growth equity firms include General Atlantic, Insight Partners, Summit Partners, TA Associates...