SAN FRANCISCO & LONDON — Private equity firm Francisco Partners has announced the closing of Francisco Partners V, L.P. (FP V). The $3.975 billion fund will continue the firm’s strong history of partnering with management teams and investing in companies across the technology ecosystem.
Francisco Partners closed its largest fund to date in less than six months through a significantly oversubscribed process. The firm has now raised over $14 billion in committed capital since its inception 18 years ago. Dipanjan “DJ” Deb, co-founder & CEO of Francisco Partners, said, “We appreciate the overwhelming support we received from our limited partners and are excited to welcome a select group of new investors to FP.”
Francisco Partners’ deep sub-sector expertise, which helped the firm generate over $3 billion of realizations in the past 12 months, will remain core to the FP V investment approach. FP senior partners have domain expertise in Communications, FinTech, Healthcare IT, Internet, Security, Software and Systems, and work in close concert with management teams to reposition, reinvigorate and grow businesses. The firm has 45 investment professionals in San Francisco and London, and utilizes 12 operating partners through its relationship with Francisco Partners Consulting.
“The technology market continues to undergo substantial change creating tremendous opportunities for both incumbents and those creating disruption,” added Deb. “With FP V and the Agility Fund, which targets smaller transactions, FP has the capital, flexibility and operating resources to be an outstanding partner to companies across the technology landscape.”
Recent FP investments include a partnership with Ericsson through iconectiv, the acquisition of Quest and SonicWALL through the carve-out of Dell Software Group, partnering with health insurance companies with the first outside capital in Availity, and investing in dozens of founder-backed technology companies, including Dynamo and GoodRx.