Rubicon Technology Partners – a leading private equity firm focused on enterprise software investments – recently announced the successful closing of its latest fund, Rubicon Technology Partners IV (Fund IV) at approximately $1.7 billion. And this represents a 34% increase in size from its predecessor fund, Rubicon Technology Partners III, which closed in 2020.
Fund IV has strong support from existing and new investors, comprising a broad range of leading global institutions, including public and private pension funds, consultants, foundations, endowments, and family offices. And Rubicon will continue to pursue its dedicated investment strategy of partnering with founders and management teams to build market-leading enterprise software companies by utilizing its best-in-class value creation framework.
Rubicon helps software businesses accelerate growth with a unique set of proprietary processes focused on increasing market share, executing M&A strategies, and implementing operational best practices that support increased scale and efficiency. And since its inception in 2012, Rubicon completed 66 transactions, including 19 platform investments and 47 add-on acquisitions.
The firm typically makes control equity investments of $50 to $350 million into businesses with $15 to $75 million of annual recurring revenue, a leadership position in their markets, and opportunities to increase operational efficiency and accelerate growth.
Fund IV has made two platform investments to date:
— In October 2022, the Fund invested in Aline. This proprietary Rubicon-architected deal combined three leading software vendors in the Senior Living industry to create a market leader that addresses a full range of senior living operators’ most pressing software needs.
— In July 2023, Rubicon announced its investment in Tacton, the leading Configure, Price, Quote (CPQ) SaaS provider to manufacturers of complex configurable products.
PJT Park Hill advised Rubicon as a placement agent. And Simpson Thacher & Bartlett LLP served as legal counsel to the Fund and Rubicon.
“The Rubicon team is honored to partner with a world-class set of investors that are aligned with our culture and strategy. We are very pleased to have received such strong support from our existing investors and are excited to welcome our new limited partners. We believe Rubicon’s conviction in the enterprise software market and our experience in helping founders and management teams build market-leading companies continues to position us as a partner of choice, and we are excited to continue executing our differentiated strategy.”
– Rubicon’s partners