Resurgens Technology Partners (RTP), a private equity firm investing in North American and European lower middle-market software companies, announced the completion of fundraising for its Fund III, securing $800 million in commitments. Fund III follows Resurgens’ two previous funds RTP I (raised over $200 million) and RTP II (raised over $500 million).
Similar to the predecessor Resurgens vehicles, Fund III will target majority investments in founder-owned software businesses as well as special situations such as carve-out transactions or venture-backed recapitalizations. And RTP III will seek to build a portfolio of a relatively small number of companies which are important players in their market segments. The Resurgens value-creation efforts bring major cross-functional capabilities across sales and marketing, product and R&D, talent recruitment and add-on acquisition and integration execution.
Resurgens did not utilize a placement agent in connection with the Fund III fundraising. And Proskauer served as fund counsel.
KEY QUOTES:
“We are deeply grateful for the continued confidence and support from our existing and new investors who share our vision for partnering with small-cap application and infrastructure software businesses. The software private equity segment is highly specialized, and we believe that our considerable market tenure and reputation, large and diverse value-creation team, and steadfast commitment to the lower end of the market create a compelling value proposition for Resurgens and our investors.”
- Fred Sturgis, Co-founder and Managing Director at Resurgens Technology Partners
“We are excited about the opportunity Fund III presents for our firm to continue to leverage its strategy of building software companies that matter in their sectors. Since the beginning of this incredible journey in 2016 with the launch of Resurgens, it’s always been about our team and our culture. We’ve invested heavily in both and we’re grateful for the ability to continue to execute on that mission.”
- Adi Filipovic, Co-founder and Managing Director at Resurgens Technology Partners
