Exclusive: Rubicon Technology Partners taps agent for $250 mln fundraise

Firm: Rubicon Technology Partners

Fund: Rubicon Technology Partners LP

Target: $250 mln

Amount Raised: N/A

Placement Agent: Capstone Partners

While one person familiar with the firm was aware of the fundraise for Rubicon in the middle of last year, the firm has reportedly been shopping around for a placement agent more recently, according to sources.

A separate source said Rubicon Technology Partners launched in October 2012, and held a close one year later, but the amount of money raised was unknown at the time. Emails to the firm by Buyouts were not answered.

The Menlo Park, Calif, and Stamford, Conn firm takes aim at control equity investments of $20 million to $50 million in the enterprise software and technology services sectors, with revenue at target companies of $10 million to $150 million, according to its website.

“We believe the enterprise software and technology-enabled services lower middle market is a highly attractive investment area where we can apply our deep industry experience to investment opportunities that require both capital and an operational focus,” the firm said on its website.

Hodge, a partner at Rubicon, worked as senior managing director and senior advisor at Blackstone from 2006 through 2011. He was directly involved in Blackstone’s investments in Freescale Semiconductor, SunGard and SunGard Higher Education, the firm said on its website.

Andy Gesell, a partner at Rubicon Technology Partners, worked as a partner at Court Square Capital from 2005 to 2012. He had previously joined CVC’s predecessor firm, Citigroup Venture Capital, as a principal in 2004.

Steve Carpenter, another partner at Rubicon, worked as CEO at Ventyx, which he grew to more than $600 million in revenue, up from $240 million when the company was still a unit of ABB. Carpenter served as a senior executive at Ventyx from 2007 until 2010, during which time it was owned by Vista Equity Partners.