Resurgens Technology Partners, a tech-focused private equity firm, today announced it has completed fundraising for Resurgens Technology Partners II LP with more than $500 million in capital. The firm’s new fund was oversubscribed and closed at its revised hard cap.
Resurgens makes majority investments in profitable lower middle-market companies that have from $5 million to $30 million in revenue. The firm has a specific interest in application and IT infrastructure software businesses that are headquartered in North America and, on a select basis, in Europe. Resurgens prefers founder-owned businesses and carve-out transactions, as well as recapitalizations of investor-owned companies.
“We are thankful for the support from our existing and new limited partners,” said Fred Sturgis, a managing director at Resurgens. “This closing represents an exciting chapter for Resurgens and will enable us to continue to invest behind our team and capabilities, building on our strong position in the evolving and dynamic lower middle-market software sector.”
Resurgens was founded in 2016 and closed its first fund in 2018 with $500 million of capital. Since its founding, the firm has invested in 11 tech-focused platform companies and has closed nine add-on acquisitions. In addition, the firm has closed on three full or partial realization transactions from its debut fund.
Atlanta-headquartered Resurgens has more than 25 professionals across its investment and operating teams and maintains additional offices in Austin, Silicon Valley, and London.
“Our team is excited about the opportunity to continue to build on Resurgens’ track record,” said Adi Filipovic, a managing director at Resurgens. “We have built a team with deep functional software operating and advisory experience to develop innovative approaches to value creation in our portfolio. This latest fund allows us to take our investment strategy and deliver it to the next level.”
Sparring Partners was the placement agent for this fundraise and Proskauer provided legal services.
© 2022 Private Equity Professional | September 20, 2022
