Rubicon Technology Partners closed its third fund on more than $1.25 billion, hitting its hard cap in less than six months. Rubicon Technology Partners III was targeting $850 million for investments in enterprise software companies. Since the firm’s inception in 2012, it completed 30 transactions, with 12 platform deals and 18 add-ons.
Rubicon Technology Partners (“Rubicon”), a leading private equity investor focused on enterprise software investments, announced the first and final closing of its new fund, Rubicon Technology Partners III (“the Fund”), at over $1.25 billion, hitting its hard cap and exceeding the Fund target of $850 million in less than 6 months.
The Fund was oversubscribed with strong support from both existing and new investors. The Fund’s diverse, institutional investor base includes North American and European public and private pension funds, charitable and healthcare foundations, and educational endowments, among others.
Rubicon will continue to pursue its proven investment strategy of partnering with founders and management teams to build market-leading enterprise software companies by leveraging its proprietary value creation framework. Rubicon helps software businesses accelerate growth with a proven set of approaches focused on increasing market share, executing M&A strategies, and implementing operational best practices that support increased scale and efficiency.
Since its inception in 2012, Rubicon has completed 30 total transactions, including 12 platform investments and 18 add-on acquisitions. Rubicon typically makes control equity investments of $50-200 million into businesses with $15-75 million of annual recurring revenue, a leadership position in their markets, and opportunities to accelerate growth.
“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 welcome our new limited partners,” said the Rubicon partners. “We believe this successful fundraise is a reflection of Rubicon’s track record of helping founders and management teams build market leading companies. We are excited to continue executing our differentiated, proven strategy.”
Rubicon was advised by Park Hill as placement agent. Simpson Thacher & Bartlett LLP served as legal counsel to the Fund and Rubicon.
Rubicon Technology Partners invests in enterprise software companies with proven products and talented management teams to help develop market leadership positions. Rubicon enables companies to adapt to the changing requirements of their businesses as they grow and scale using a proven set of proprietary processes, best practices and a portfolio-wide engagement model. Rubicon has over $2 billion in assets under management and is headquartered in Boulder, CO with additional offices in Palo Alto, CA and Stamford, CT. For more information, please visit www.rubicontp.com