SMID growth refers to an investment strategy and asset category focused on small- and mid-capitalization companies exhibiting strong, above-average rates of earnings, revenue, and cash-flow expansion. These businesses are typically valued between $1 billion and $10 billion, placing them past the initial high-risk startup phase but leaving them plenty of runway for rapid scaling compared to mega-cap giants. Investors target SMID growth stocks to capture aggressive capital appreciation, though these equities often experience higher price volatility and trade at elevated valuation multiples.