Francisco Partners Closes Record $21B Across Two Tech Buyout Funds

Francisco Partners has closed $21 billion in capital commitments across its flagship FP VIII fund and middle-market vehicle FP Agility IV, surpassing initial targets of $14 billion and $3.5 billion respectively in the firm’s largest fundraise since its founding in 1997. The closings bring Francisco Partners’ total capital raised to more than $75 billion.

The funds drew commitments from a global institutional base including public and corporate pension funds, insurance companies, sovereign wealth funds, foundations, endowments, private wealth platforms, and family offices. FP VIII targets large-cap technology buyouts and growth equity investments, while FP Agility IV focuses on middle-market technology companies — together covering Francisco Partners’ full range of deal sizes across the technology sector.

“Closing these funds in one of the most selective fundraising environments in recent years reflects limited partners’ confidence in our investment team and the strength and durability of the relationships Francisco Partners has built over more than two decades,” said Andrew Brown, global head of investor relations, Francisco Partners.

Dipanjan Deb, co-founder and CEO of Francisco Partners, said the rapid evolution of AI creates both risk and meaningful opportunity for companies that can harness it to build better products, improve productivity, and deliver greater value to customers — a theme that is expected to shape the firm’s investment thesis across both new vehicles.

Since inception, Francisco Partners has invested in more than 500 technology companies across software, hardware, and technology-enabled services. The newly closed funds will continue the firm’s model of partnering with founders, management teams, and corporate partners to build market-leading technology businesses.

Kirkland & Ellis LLP served as fund counsel.