SCHEDULE 13G/A: Summit Partners Amends Klaviyo Ownership Disclosure, Revealing 34.13% Stake

Summit Partners has filed an amended Schedule 13G, disclosing its collective beneficial ownership of 40,827,778 shares, representing 34.13% of Klaviyo, Inc.'s Series A Common Stock.

Summary

• Summit Partners, L.P. and its affiliated funds (Summit Holders) collectively beneficially own 40,827,778 shares of Klaviyo, Inc.'s Series A Common Stock.
• This aggregate ownership represents 34.13% of the Series A Common Stock class.
• The reported shares are primarily Series A Common Stock issuable upon conversion of 40,827,778 Series B Common Stock shares held by the Summit Holders.
• The calculation of the percentage is based on 78,803,963 Series A Shares outstanding as of October 31, 2024, as reported in Klaviyo's Form 10-Q, increased by the 40,827,778 Series A Shares issuable to Summit Holders.
• Individual beneficial ownership percentages for the Summit entities include: Summit Partners Growth Equity Fund IX-A, L.P. with 20.17% (24,130,130 shares), Summit Partners Growth Equity Fund IX-B, L.P. with 12.59% (15,066,515 shares), Summit Partners Co-Invest (Kiwi), L.P. with 1.24% (1,487,851 shares), Summit Investors GE IX/VC IV, LLC with 0.11% (126,822 shares), and Summit Investors GE IX/VC IV (UK), L.P. with 0.01% (16,460 shares).

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would inherently indicate positive or negative sentiment regarding the company's performance or outlook. It is a routine regulatory filing.

Future Outlook

NA

Industry Context

This filing is a standard disclosure of significant beneficial ownership by an institutional investor group (Summit Partners) in a publicly traded company (Klaviyo, Inc.). It reflects a substantial, long-term investment position, common for private equity or growth equity firms that have invested in companies prior to or during their public listing.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional holder's stake, which can influence market perception and liquidity. The large percentage held by Summit Partners indicates a concentrated ownership structure.

Key Dates

Keywords

Klaviyo, Summit Partners, SEC filing, Schedule 13G, Beneficial Ownership, Series A Common Stock, Series B Common Stock, Institutional Investor, Equity Stake