Francisco Partners Raises Almost $10 Billion In Capital For Tech Investments

0
Francisco Partners, a private equity firm headquartered in San Francisco that invests in technology companies, has raised almost $10 billion. Photo courtesy of Paul Calescu.

SAN FRANCISCO—On Wednesday, June 3, San Francisco-based private equity firm Francisco Partners (FP) announced that it raised nearly $10 billion in capital to invest across the technological sector.

The money comes from three different pools of capital: two equity funds and one credit fund, all of which surpassed their goal investment totals. This $10 billion sum is one of the largest to be gathered by a private equity firm in 2020 so far.

According to a press release, the two equity funds received investments from over 130 institutions spread out among more than 20 countries from a variety of continents. In this fundraising round, FP found new investors from Asia, Europe, the Middle East, South America, Africa, and the United States.

FP was founded in August 1999. Since then, it has totaled $24 billion of capital, invested or acquired over 275 companies, and established offices in San Francisco, London, and New York.

The firm channels its funds towards companies in the technology industry. According to its website, FP invests in businesses with valuations ranging from $20 million to over $3 billion.

FP has invested in companies like GoodRx, a telemedicine startup that monitors U.S. pharmaceutical prices, and Legal Zoom, which helps users create legal documents without a lawyer.

The self-described investment approach of FP is “partnering with founders, divisional carveouts, take-private transactions and providing strategic capital for [mergers and acquisitions].”

As to where these new funds will go, FP co-founder and CEO Dipanjan Deb said, ““Through our three pools of capital, our team has the flexibility to pursue opportunities across the ­­globe and help management teams and portfolio companies execute operational and strategic transformation.”