Francisco Partners raises $21B for new fund, exceeding $18B target
Francisco Partners, a technology-focused private equity firm, raised $21 billion for a new fund, surpassing its initial $18 billion target. Co-founder Dipanjan Deb stated that "AI will not kill the software industry" as the firm closed the fundraising round. The larger-than-expected fund size reflects investor confidence in the firm's investment strategy in the technology sector.