Resurgens Technology Partners (Resurgens), an Atlanta-based private equity firm focussed on investing in North American-based, lower middle-market software and tech-enabled services businesses, has closed its flagship fund at over USD200 million in total commitments, in excess of its target.
The fund’s limited partners include endowments, foundations, global asset managers, financial institutions and state and national pension plans.
Founded by Fred Sturgis, John Baumstark and Adi Filipovic, Resurgens focuses its investment strategy on ‘micro-tech’ buyouts, targeting niche-focussed, profitable enterprise technology companies. Having worked together over the past decade at two world-class private equity firms, the Resurgens team of investors and operators believes they have built and refined an innovative model for successful control investing in the emerging micro-tech segment.
“In addition to the opportunity to work together as a team to launch Resurgens, what really excites us is the chance to fill a gap in the lower end of the tech buyout market,” says Sturgis, noting that most tech private equity firms of Resurgens’ size are either primarily focused on minority growth investments or lack deep operational and control investment experience. “We are big believers that steadily growing niche enterprise technology businesses can realise substantial benefits from the operational improvements we are delivering to our portfolio companies,” he added.
Resurgens made its first investment in 2017 with the acquisition of Investment Metrics, a market leader in the institutional investment performance analytics and reporting segment. The firm later acquired InvestorForce from MSCI and combined the two companies. Resurgens made its second platform investment in 2018, carving out Assurance Software from Sungard Availability Services. Assurance, a SaaS-based business continuity solutions provider, recently announced the acquisition of UK-based ClearView.
Baumstark, an experienced CEO of several PE-backed tech companies, spearheads what Resurgens believes is an innovative operating model in its segment of the market.
“Our strategy is to acquire a relatively concentrated portfolio of companies, to invest deeply in a dedicated operating team and to build a portfolio management system which is unparalleled in our segment of the market,” says Baumstark.
The fund was raised without a placement agent; Proskauer acted as fund counsel to Resurgens.
