Francisco Partners Raises $21B, Exceeds $18B Target
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- Francisco Partners raised $21 billion for its latest fund, exceeding its stated $18 billion target by $3 billion.
- Dipanjan "DJ" Deb, co-founder of Francisco Partners, publicly stated that "AI will not kill the software industry," pushing back against fears that artificial intelligence would displace incumbent software businesses.
Why it matters: Closing $21 billion—$3 billion above target—shows limited partners remain willing to commit capital to a tech-focused private equity vehicle at a moment when software valuations are under pressure. Deb's on-the-record defense of the sector doubles as a market-reassurance signal from a firm now armed with oversubscribed dry powder to deploy into software assets.
