Resurgens Technology Partners (RTP), a private equity firm investing in mid-market software companies in North America and Europe, announced it has closed fundraising for Fund III, securing $800 million in commitments. Fund III follows Resurgens' two previous funds, RTP I (which raised over $200 million) and RTP II (which raised over $500 million).
Similar to previous Resurgens vehicles, Fund III will target majority investments in founder-owned software businesses and special situations such as carve-out transactions and venture-backed recapitalizations. Additionally, RTP III will seek to build a portfolio of a relatively small number of companies that are significant players in their respective market segments. Resurgens' value creation efforts bring key cross-functional capabilities across sales and marketing, product and research and development, talent recruitment, and executing add-on acquisitions and integrations.
Resurgens did not use a placement agent in connection with the fund III financing, and Proskauer acted as advisor to the fund.
Important Quotes:
“We are deeply grateful for the continued confidence and support from existing and new investors who support our vision of partnering with smaller application and infrastructure software businesses. The software private equity segment is highly specialized and we believe our long history and reputation in the market, our large and diverse value creation team and strong focus on the lower end of the market create a compelling value proposition for Resurgens and our investors.”
Fred Sturgis, co-founder and managing director of Resurgens Technology Partners
“We are excited that Fund III provides us with the opportunity to continue leveraging our strategy of building significant software companies in their industries. Since launching Resurgens in 2016 and beginning this incredible journey, our team and culture have always been key. We have invested heavily in both and are grateful to be able to continue executing on that mission.”
Adi Filipovic, co-founder and managing director of Resurgens Technology Partners
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