Francisco Partners
Francisco Partners是一家专注科技领域的投资机构，业务平台包括私募股权和信贷。其为科技企业提供资本及运营支持，FP Operating Executives团队包括有企业高管经验的人员和顾问。
本页目录21 节
词条资料
科技投资与业务平台
Francisco Partners是一家专注科技领域的投资机构，业务平台包括私募股权和信贷。其为科技企业提供资本及运营支持，FP Operating Executives团队包括有企业高管经验的人员和顾问。[1]
待核验资料附录｜第38章｜转录说明
待核验资料附录：以下保留ABAB Club课程的研究记录。表中“当前”“已退出”、金额、估值、回报及证据等级均沿用原资料日期与口径，未逐项完成本次独立核验，不能视为现时持仓或机构实际回款。 来源章节最后更新时间：2026-07-08 22:12:43.066796+00。资料中的教学问题、推演及待办仍属于课程材料。 机构品牌为主体，附录基金与被投项目分别保留原称谓，不将交易参与方机械建为同一实体。[2]
待核验资料附录｜第38章｜导读
公开资料显示，Francisco Partners（FP）是高度聚焦科技和科技赋能业务的私募股权平台。本章以公开投资页、公开公告和人工筛选交易为底表，覆盖172个公开投资页资产，其中当前持有84个、已退出88个；同时补入4个2026状态或链接异常标的，形成176行全量案例表。另有40个重点交易案例，用于训练买入金额、退出金额、改造逻辑和退出路径。[2]
本章特别强调边界：没有公开披露的金额一律写“未披露”；报道金额、企业价值、签约金额、融资轮、债务再融资和IPO市值不能互相替代。2026年状态修正也要单独写清楚，尤其是STARLIMS、Kobalt、Avalon、Blackline Safety等案例。[2]
待核验资料附录｜第38章｜关键结论
1. FP的核心投资模式集中在technology buyout、corporate carve-out、public-to-private、buy-and-build和founder/growth partnership。[2]
2. 公开投资页底表显示当前持有84个、已退出88个，但2026年有若干状态滞后或尚未进入投资页的资产，需要单独标注。[2]
3. 重点交易里，战略出售、金融买家间出售、IPO/上市流动性和再资本化并存，退出不是单一路径。[2]
4. FP最清楚的价值创造路径包括集团剥离后独立运营、软件平台整合、产品和销售扩张、补强并购、上市公司私有化后的长期改造。[2]
5. 大额案例必须拆金额层级：New Relic的$6.5bn、Boomi的$4bn、LogMeIn/GoTo/LastPass的$4.3bn、ClickSoftware的$1.4bn企业价值、Blackline Safety最高$850m签约金额都不是同一种现金流。[2]
6. 全量表用于范围覆盖，重点交易表用于课堂拆解；两者不能混为“完整回报表”。[2]
待核验资料附录｜第38章｜覆盖口径
待核验资料附录｜第38章｜覆盖口径
| 口径 | 数量 | 课程读法 |
|---|---|---|
| 公开投资页资产 | 172 | 成功抓取的公开投资页底表，含当前持有和已退出资产。 |
| 当前持有 | 84 | 公开投资页仍列为当前持有，但个别2026状态需要修正。 |
| 已退出 | 88 | 公开投资页列为已退出，仍不代表披露卖出价或基金回款。 |
| 补充/例外标的 | 4 | 包括Blackline Safety签约收购及Healthland、Prosper、News Break待核验。 |
| 全量案例表 | 176 | 每个标的一行，保留状态、2026备注、行业、交易类型、金额线索和改造线索。 |
| 重点交易案例 | 40 | 人工筛选的高置信度交易案例，用于金额、退出路径和改造方式训练。 |
| 公开公告正文 | 299 | 用于核验买入、卖出、融资、再资本化和2026状态修正。 |
| 有金额披露线索 | 99 | 只代表有金额信号，不等于都有买入价或卖出价。 |
待核验资料附录：以下保留ABAB Club课程的研究记录。表中“当前”“已退出”、金额、估值、回报及证据等级均沿用原资料日期与口径，未逐项完成本次独立核验，不能视为现时持仓或机构实际回款。
[2]
待核验资料附录｜第38章｜状态分布
待核验资料附录｜第38章｜状态分布
| 分类 | 数量 |
|---|---|
| 已退出 | 88 |
| 当前持有 | 84 |
| 待继续核验 | 3 |
| 已公告/待交割 | 1 |
待核验资料附录：以下保留ABAB Club课程的研究记录。表中“当前”“已退出”、金额、估值、回报及证据等级均沿用原资料日期与口径，未逐项完成本次独立核验，不能视为现时持仓或机构实际回款。
[2]
待核验资料附录｜第38章｜行业分布（前18类）
待核验资料附录｜第38章｜行业分布（前18类）
| 分类 | 数量 |
|---|---|
| Security & Infrastructure | 22 |
| Healthcare; Vertical Market Software | 18 |
| Consumer Technology | 12 |
| Semis & Systems | 11 |
| Education Technology ; Vertical Market Software | 10 |
| Vertical Market Software | 8 |
| Tech-Enabled Services | 8 |
| Financial Technology; Vertical Market Software | 8 |
| Financial Technology | 7 |
| Industrial Software; Vertical Market Software | 7 |
| Healthcare | 7 |
| Communications Technology | 5 |
| ERP & Business Intelligence | 5 |
| Healthcare; Tech-Enabled Services | 4 |
| Communications Technology ; Security & Infrastructure | 4 |
| Industrial Software; Vertical Market Software; ERP & Business Intelligence | 4 |
| 未披露 | 4 |
| ERP & Business Intelligence; Vertical Market Software | 3 |
待核验资料附录：以下保留ABAB Club课程的研究记录。表中“当前”“已退出”、金额、估值、回报及证据等级均沿用原资料日期与口径，未逐项完成本次独立核验，不能视为现时持仓或机构实际回款。
[2]
待核验资料附录｜第38章｜交易类型分布（前18类）
待核验资料附录｜第38章｜交易类型分布（前18类）
| 分类 | 数量 |
|---|---|
| Divisional Carve-Outs | 26 |
| 创始人/成长合作 | 26 |
| Private Credit | 17 |
| 私有化/买断 | 15 |
| 上市公司私有化 | 10 |
| 创始人/成长合作；并购整合 | 9 |
| 创始人/成长合作；Minority | 7 |
| 并购整合；私有化/买断 | 7 |
| Divisional Carve-Outs；并购整合 | 7 |
| 私有化/买断；并购整合 | 4 |
| 上市公司私有化；并购整合 | 4 |
| 上市公司私有化；创始人/成长合作 | 4 |
| Roll-Over | 4 |
| Minority | 3 |
| Private Credit；创始人/成长合作 | 3 |
| 并购整合；创始人/成长合作 | 3 |
| 未披露 | 3 |
| Minority；PIPEs / Sponsored M&A | 2 |
待核验资料附录：以下保留ABAB Club课程的研究记录。表中“当前”“已退出”、金额、估值、回报及证据等级均沿用原资料日期与口径，未逐项完成本次独立核验，不能视为现时持仓或机构实际回款。
[2]
待核验资料附录｜第38章｜2026状态修正和边界
待核验资料附录｜第38章｜2026状态修正和边界
| 标的 | 口径 | 课程边界 |
|---|---|---|
| STARLIMS | 2026年公开公告显示Turn/River投资，FP将退出；公开投资页状态滞后。 | 写成将退出/待交割核验，不写成仍完全当前持有。 |
| Kobalt | 2026年已签约出售给Primary Wave，预计2026Q3交割。 | 签约出售不是已完成交割，退出金额和最终状态需继续核验。 |
| Avalon | WindRose 2026年完成投资，FP继续追加投资。 | 写成当前/部分持有和再资本化，不写成完全退出。 |
| Blackline Safety | 2026-04-08签署收购协议，最高金额$850m。 | 公开投资页尚未进入底表，交割状态需继续核验。 |
| Healthland、Prosper、News Break | 公开投资页链接失效或重定向，需要补充核验。 | 保留待核验，不用估算填补金额或退出路径。 |
待核验资料附录：以下保留ABAB Club课程的研究记录。表中“当前”“已退出”、金额、估值、回报及证据等级均沿用原资料日期与口径，未逐项完成本次独立核验，不能视为现时持仓或机构实际回款。
[2]
待核验资料附录｜第38章｜重点交易案例（40个）
待核验资料附录｜第38章｜重点交易案例（40个）
| 公司 | 状态 | 买入或投资 | 买入金额 | 退出或状态 | 退出金额 | 退出路径 | 改造逻辑 |
|---|---|---|---|---|---|---|---|
| AMD communications products / Legerity | 历史/已退出 | 2000: FP bought 90% of AMD communications products division | $375m cash | Later operated as Legerity; exit details not fully verified in public file. | 不适用 | 不适用 | Corporate carve-out; early FP playbook of buying non-core technology divisions. |
| GXS | 已退出 | 2002: acquired majority of GE Global eXchange Services | ~$800m reported in public 公开资料 | 2013: OpenText agreed to acquire GXS | $1.165bn | 战略出售给 OpenText | Built standalone B2B integration / managed services platform; continued cloud trading grid investment. |
| Ichor | 已退出 | 2012: acquired Ichor Systems from American Industrial Partners | 未披露 | 2016: Ichor Holdings IPO | IPO amount not fully curated here | IPO | Semiconductor capital equipment component platform; prepared for public market. |
| Plex Systems | 已退出 | 2012: FP acquired Plex Systems | 未披露; later $30m and $50m growth rounds disclosed | 2021: FP sold Plex to Rockwell Automation | $2.22bn cash | 战略出售给 Rockwell Automation | Cloud manufacturing ERP scale-up; expanded product development, sales and marketing. |
| Kewill / BluJay | 已退出 | 2012: FP acquired Kewill; later combined/rebranded as BluJay | £89.5m reported for Kewill buyout; later acquired LeanLogistics/Four Soft etc. | 2021: FP announced pending sale of BluJay to E2open | ~$1.7bn reported in market 公开资料 | Strategic/platform sale to E2open | Buy-and-build logistics software platform; Kewill + LeanLogistics rebranded as BluJay Solutions. |
| Aesynt | 已退出 | 2013: acquired McKesson hospital automation unit and rebranded as Aesynt | 未披露 | 2015: FP agreed to sell Aesynt to Omnicell | $275m | 战略出售给 Omnicell | Carve-out; medication management automation; repositioned as independent healthcare automation vendor. |
| Healthland | 已退出/公开页面待核验 | Historical FP healthcare software holding | 未披露 | 2015: CPSI agreed to acquire Healthland | $250m | 战略出售给 CPSI | Rural/community hospital EHR platform; acquired American HealthTech during FP ownership. |
| ClickSoftware | 已退出 | 2015: public-to-private acquisition | ~$438m | 2019: sold to Salesforce | $1.4bn enterprise value | 战略出售给 Salesforce | CEO change; global field service management scale-up; AI-driven scheduling/route optimization; FP described complexity arbitrage … |
| CoverMyMeds | 已退出 | 2014: FP invested in CoverMyMeds | 未披露 | 2017: McKesson agreed to acquire CoverMyMeds | $1.1bn reported | 战略出售给 McKesson | Scaled electronic prior authorization network in healthcare workflow. |
| GoodRx | 公开资料仍列当前持有 | 2015: FP and Spectrum Equity growth investment | 未披露 | 2020: IPO / public listing; FP may retain stake per official 当前持有 list | IPO market cap about $19.4bn on debut reported | IPO/流动性事件 | Consumer prescription-price platform scaled to public markets. |
| Prometheus Group | 已退出 | 2016: strategic investment from FP | 未披露 | 2019: Genstar acquired Prometheus | Over $1bn | 金融买家间出售 | Enterprise asset management software scale-up. |
| Quest / SonicWall | Quest已退出；SonicWall当前持有 | 2016: FP and Elliott acquired Dell Software Group assets | 交易条款未披露; later $2bn debt refinancing disclosed | 2021: FP announced sale of Quest Software; SonicWall remains on official 当前持有 list | 未披露 | Sponsor/strategic sale for Quest; ongoing for SonicWall | Divisional carve-out; split/operated cybersecurity and infrastructure software assets; add-on acquisitions including Metalogix/Ap… |
| Corsair | 已退出 | 2012: strategic investment in Corsair | 未披露 | 2017: FP sold majority share | Transaction valued at $525m | Sale of majority stake | Gaming/peripherals brand expansion. |
| R2Net / JamesAllen.com | 已退出 | 2017: JamesAllen.com raised FP growth equity | $140m | 2017: FP completed sale to Signet Jewelers | 未披露 in FP title; Signet transaction reported elsewhere around $328m | 战略出售给 Signet | Digital diamond and engagement ring commerce; growth capital for market transformation. |
| Verifone | 当前持有 | 2018: public-to-private acquisition with BCI | $3.4bn incl. debt; $23.04/share | Not 已退出 as of official list | 不适用 | 当前持有 | Payments turnaround; private ownership after share-price pressure. |
| LegalZoom | 公开资料仍列当前持有 | 2018: secondary investment led by FP and GPI | $500m secondary investment | Partial/public liquidity possible; official status 当前持有 | 不适用 | 当前持有/partially liquid public-company exposure not fully curated | Consumer/legal SaaS growth; later public market path. |
| EG | 当前持有 | 2019: acquired EG from Axcel | DKK 3.7bn | Partial liquidity/stake sale to CVC in 2022 per FP media | Not fully curated; EG enterprise value reported EUR 1.8bn in media body | Partial sponsor transaction / continuing ownership | Nordic vertical software buy-and-build; acquired Lindbak/Holte and other software units; FP later sold stake to CVC while retaini… |
| Payscale | 当前持有 | 2019: majority growth investment | $325m enterprise value | Not 已退出 as of official list | 不适用 | 当前持有 | Compensation data/software platform expansion. |
| LogMeIn / GoTo / LastPass | GoTo与LastPass当前持有 | 2019 announced / 2020 closed take-private by FP and Evergreen | $4.3bn / $86.05 per share | Not 已退出 as of official list | 不适用 | 当前持有s | Take-private; 组合资产 separated/repositioned GoTo collaboration and LastPass password management. |
| MyFitnessPal | 当前持有 | 2020: acquired from Under Armour | $345m | Not 已退出 as of official list | 不适用 | 当前持有 | Consumer health/fitness app carved out from strategic parent; focus on standalone growth. |
| MyHeritage | 当前持有 | 2021: acquired MyHeritage | ~$600m reported | Not 已退出 as of official list | 不适用 | 当前持有 | Consumer genealogy/DNA platform; continued product/community expansion. |
| Boomi | 当前持有 | 2021: FP and TPG acquired Boomi from Dell | $4bn | Not 已退出 as of official list | 不适用 | 当前持有 | Carve-out from Dell; named new CEO; expanded through product releases and acquisitions such as Rivery/Thru. |
| Merative / IBM Watson Health assets | 当前持有 | 2022: acquired healthcare data and analytics assets from IBM Watson Health | Reported >$1bn / around $1bn | Not 已退出 as of official list | 不适用 | 当前持有 | Carve-out and relaunch as Merative; standalone healthcare data/software company. |
| Sumo Logic | 当前持有 | 2023: public-to-private acquisition | $1.7bn / $12.05 per share | Not 已退出 as of official list | 不适用 | 当前持有 | Cloud observability/log analytics under private ownership. |
| New Relic | 当前持有 | 2023: FP and TPG take-private | $6.5bn | Not 已退出 as of official list | 不适用 | 当前持有 | Observability platform taken private for strategic product and go-to-market work. |
| The Weather Company | 当前持有 | 2024: acquired from IBM | $1.1bn disclosed later in IBM filing: $750m cash + $100m deferred + $250m contingent consideration | Not 已退出 as of official list | 不适用 | 当前持有 | Carve-out; standalone weather data/digital platform; AI/weather products and enterprise focus. |
| RBmedia | 当前持有 | 2023: H.I.G. and FP acquired RBmedia from KKR | Reported >$1bn | Not 已退出 as of official list | 不适用 | 当前持有 | Audiobook publishing/distribution platform. |
| Blancco | 当前持有 | 2023: acquired Blancco Technology Group | ~£175m | Not 已退出 as of official list | 不适用 | 当前持有 | Public-to-private data erasure/device diagnostics software platform. |
| Jama Software | 当前持有 | 2024: FP announced acquisition | $1.2bn | Not 已退出 as of official list | 不适用 | 当前持有 | Requirements management / traceability software; vertical/engineering software thesis. |
| Black Duck / Synopsys Software Integrity Group | 当前持有 | 2024: Clearlake and FP acquired Synopsys Software Integrity Group | Up to $2.1bn; $1.5bn at close + $125m installments + up to $475m contingent | Not 已退出 as of official list | 不适用 | 当前持有 | Corporate carve-out; renamed/re-established as Black Duck; management continued; app-sec product focus. |
| AdvancedMD | 当前持有 | 2024: FP agreed to acquire AdvancedMD from Global Payments | ~$1.125bn / $1.13bn | Not 已退出 as of official list | 不适用 | 当前持有 | Healthcare vertical SaaS; returned to FP ownership; AI/EHR and independent practice software growth. |
| QGenda | 已退出 | 2016: FP strategic growth investment | 未披露 | 2024: sale to Hearst | Between $2bn and $3bn reported | 战略出售给 Hearst | Brought in operating partner and executive team; completed about five add-on acquisitions including OpenTempo and Schedule360; ex… |
| Office Ally | 当前持有/部分流动性 | 2021: FP acquired Office Ally | 未披露 | 2025: New Mountain bought large stake; FP retained joint control | ~$1.8bn valuation reported | Partial sponsor sale / recapitalization | Healthcare clearinghouse/practice-management/EHR/payments platform; scaled claims and payment workflows. |
| Quorum Software | 当前持有 | 2025: FP acquired Quorum from Thoma Bravo | ~$2.4bn including debt reported | Not 已退出 as of official list | 不适用 | 当前持有 | Energy software platform; FP thesis to strengthen product/service capabilities. |
| Jamf | 当前持有 | 2025 signed / 2026 completed acquisition | $2.2bn / $13.05 per share | Not 已退出 | 不适用 | 当前持有 | Apple device management/security software; private ownership intended to accelerate growth, innovation and M&A. |
| STARLIMS | 2026公开公告显示将退出，投资页状态滞后 | 2021: acquired from Abbott Informatics | 未披露 | 2026: Turn/River strategic investment; FP exits | ~$200m reported by WSJ; official release 未披露 | 金融买家间出售 | Corporate carve-out; new leadership; cloud offerings; shift toward subscription recurring revenue; acquired Labstep. |
| Kobalt | 已签约出售，预计2026Q3交割 | FP investment/ownership before 2026 sale; exact entry terms not curated in this file | 未披露 | 2026: Primary Wave signed definitive agreement to acquire Kobalt from FP | $7bn reported in public 公开资料; official FP release did not disclose price | 战略出售 to Primary Wave with Brookfield investment; expected close Q3 2026 | Independent music publishing and technology platform; royalty platform/amra digital collection operation. |
| Avalon Healthcare Solutions | 当前持有/再资本化 | FP invested before 2016 and made additional investment in 2016 | 未披露 | 2026: WindRose completed investment; FP made additional investment and remains involved | 未披露 | Partial sponsor recapitalization / continuing ownership | Lab benefit management platform; scaled proprietary technology and clinical science/analytics for payer clients. |
| Blackline Safety | Announced / pending; not yet in official investment sitemap at scrape time | 2026: definitive agreement for FP affiliate to acquire all outstanding shares | Up to $850m equity value; $9.00 cash + up to $0.50 CVR per share | Not applicable | 不适用 | Announced entry, not exit | Planned take-private of connected worker safety/industrial IoT platform; DAK Capital rollover. |
| Moneris | Watchlist / talks only, not a confirmed FP asset | 2026: FT reported FP in talks to buy Moneris | Could value Moneris up to $2bn if signed; not confirmed | 不适用 | 不适用 | 不适用 | Would fit payments 组合资产 with Verifone/Paysafe; not a closed/announced FP deal. |
待核验资料附录：以下保留ABAB Club课程的研究记录。表中“当前”“已退出”、金额、估值、回报及证据等级均沿用原资料日期与口径，未逐项完成本次独立核验，不能视为现时持仓或机构实际回款。
[2]
待核验资料附录｜第38章｜全量案例表（176个）
待核验资料附录｜第38章｜全量案例表（176个）
| 公司 | 状态 | 2026备注 | 行业 | 交易类型 | 地区 | 披露金额 | 买入线索 | 退出线索 | 改造线索 |
|---|---|---|---|---|---|---|---|---|---|
| Aeries Software | 当前持有 | 无特殊备注 | Education Technology ; Vertical Market Software | 私有化/买断 | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| 2Checkout (Avangate) | 已退出 | 无特殊备注 | Financial Technology | 创始人/成长合作；并购整合 | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| 8x8 | 已退出 | 无特殊备注 | Communications Technology | Private Credit | North America | $404 million ／ $202 million ／ $60 million ／ $250 million ／ $182 million ／ $5.61 ／ $548 million ／ $1,000 ／ $7.15 ／ $250 Million ／ $7.15, | 未披露 | 未披露 | 未披露 |
| Accela | 当前持有 | 无特殊备注 | Vertical Market Software | 私有化/买断 | North America | $49.2 billion | Sep 06, 2023 - Accela Advances Momentum with New Strategic Investment from Francisco Partners | 未披露 | 未披露 |
| Aconex | 已退出 | 无特殊备注 | Industrial Software; Vertical Market Software | 创始人/成长合作；Minority | APAC | 未披露 | 未披露 | 未披露 | 未披露 |
| Acoustic | 当前持有 | 无特殊备注 | Vertical Market Software | Private Credit | North America | $344.8 billion ／ $34 billion | Oct 18, 2022 - Acoustic Announces Strategic Growth Investment from Francisco Partners | 未披露 | 未披露 |
| Aderant | 已退出 | 无特殊备注 | Vertical Market Software | Divisional Carve-Outs | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| AdvancedMD | 当前持有 | 无特殊备注 | Healthcare; Vertical Market Software | Divisional Carve-Outs | North America | 未披露 | Oct 30, 2024 - Francisco Partners to Acquire AdvancedMD from Global Payments | 未披露 | 未披露 |
| Aesynt | 已退出 | 无特殊备注 | Healthcare | Divisional Carve-Outs | North America | $275 million ／ $10 billion ／ $50 million ／ $2 billion | Nov 04, 2013 - Francisco Partners Completes Acquisition of McKesson’s Hospital Automation Unit ／ Oct 16, 2013… | Oct 29, 2015 - Francisco Partners to Sell Medication Management Company Aesynt to Omnicell | 未披露 |
| AKQA | 已退出 | 无特殊备注 | Tech-Enabled Services | PIPEs / Sponsored M&A | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| AndHealth | 当前持有 | 无特殊备注 | Healthcare; Tech-Enabled Services | 创始人/成长合作 | North America | $57 Million ／ $57 million ／ $1.4 billion | 未披露 | 未披露 | Feb 10, 2022 - AndHealth, the Digital Health Company for Reversing Migraine and Autoimmune Diseases, Raises $57 Million… |
| API Healthcare | 已退出 | 无特殊备注 | Healthcare; Vertical Market Software | 创始人/成长合作；私有化/买断；并购整合 | North America | $1.1 million ／ $720,000, | 未披露 | 未披露 | Feb 13, 2014 - GE Completes API Healthcare Acquisition ／ Feb 08, 2012 - Francisco Partners’ 组合资产 Company API Healthcare… |
| Attachmate | 已退出 | 无特殊备注 | Security & Infrastructure | 上市公司私有化；并购整合；私有化/买断 | North America | $1.4 billion ／ $0.5 billion ／ £729.6 million ／ $1,184.0 million ／ $1,165.8 million ／ $2,349.8 million ／ $956.8 million ／ $312.8 million | 未披露 | Sep 15, 2014 - Proposed Merger between Micro Focus and the Attachmate Group to Create a Leading Global Infrastructure S… | 未披露 |
| Attenti | 已退出 | 无特殊备注 | Semis & Systems; ERP & Business Intelligence; Security & Infrastructure | 上市公司私有化 | EMEA | 未披露 | 未披露 | 未披露 | 未披露 |
| Availity | 已退出 | 无特殊备注 | Healthcare; Vertical Market Software | Minority | North America | $25 billion ／ $200 million ／ 10 million transaction ／ $10 billion | Jul 07, 2021 - Francisco Partners Announces Sale of Minority Stake in Availity ／ Sep 26, 2017 - Francisco Par… | Jul 07, 2021 - Francisco Partners Announces Sale of Minority Stake in Availity | 未披露 |
| Avalon | 当前持有 | 2026年WindRose完成投资，FP继续追加投资，仍可视为部分/当前持有。 | Healthcare; Tech-Enabled Services | 创始人/成长合作 | North America | $7 billion ／ $10 billion ／ $50 million ／ $2 billion | Jan 07, 2016 - Francisco Partners Makes Additional Investment in Avalon Healthcare Solutions | 未披露 | Jan 06, 2017 - Avalon Healthcare Solutions Raises Additional Capital to Drive Growth |
| BARBRI | 当前持有 | 无特殊备注 | Education Technology ; Vertical Market Software | 私有化/买断；并购整合 | North America | $25 billion ／ $3.9 billion | Mar 31, 2021 - Francisco Partners to Acquire Leading Legal Education Provider BARBRI | 未披露 | 未披露 |
| Barracuda Networks | 已退出 | 无特殊备注 | Communications Technology ; Security & Infrastructure | 创始人/成长合作；并购整合 | North America | $18 ／ $130 million ／ $0.96 | 未披露 | Nov 06, 2013 - Barracuda Announces Pricing of Initial Public Offering | 未披露 |
| Betterment | 当前持有 | 无特殊备注 | Financial Technology; Consumer Technology | 创始人/成长合作；Minority | North America | $100M ／ $100 million ／ $1.1 billion ／ $4 billion ／ $1.4 billion ／ $60M ／ $60 million ／ $1.4 ／ $10 billion ／ $50 million ／ $2 billion | 未披露 | 未披露 | Feb 19, 2015 - Betterment Raises $60M in Growth Funding |
| BeyondTrust | 当前持有 | 无特殊备注 | Security & Infrastructure | 私有化/买断；并购整合 | North America | $50 million ／ $2 billion | Apr 03, 2018 - Francisco Partners to Acquire Bomgar, Expanding Cybersecurity 组合资产 | 未披露 | Sep 13, 2018 - Bomgar Announces Acquisition of BeyondTrust to Expand Privileged Access Management Offerings |
| Black Duck | 当前持有 | 无特殊备注 | Security & Infrastructure | Divisional Carve-Outs | North America | $2.1 billion ／ $475 million ／ $85 billion | 未披露 | 未披露 | Oct 01, 2024 - Clearlake and Francisco Partners Complete Acquisition of Black Duck Software, Formerly Known as Synopsys… |
| Blancco | 当前持有 | 无特殊备注 | Security & Infrastructure | 上市公司私有化 | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| Blue Coat | 已退出 | 无特殊备注 | Security & Infrastructure | Minority；PIPEs / Sponsored M&A | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| BluJay Solutions | 已退出 | 无特殊备注 | ERP & Business Intelligence; Vertical Market Software | 上市公司私有化；并购整合 | EMEA | $10 billion ／ US$110m | Jul 12, 2012 - Francisco Partners Completes Acquisition of Global Supply Chain Software Company Kewill | Oct 24, 2012 - Francisco Partners taps software industry veteran to drive growth and extend market leadership | Mar 06, 2017 - Kewill and LeanLogistics Rebrand as BluJay Solutions, Unveil World’s First Global Trade Network ／ May 03… |
| Boomi | 当前持有 | 无特殊备注 | Security & Infrastructure | Divisional Carve-Outs | North America | $4 billion ／ $25 billion ／ $91 billion | 未披露 | 未披露 | May 02, 2021 - Francisco Partners and TPG to Acquire Boomi from Dell Technologies |
| bswift | 当前持有 | 无特殊备注 | Healthcare | Divisional Carve-Outs | North America | 未披露 | Oct 03, 2022 - Francisco Partners to Acquire bswift from CVS Health | 未披露 | 未披露 |
| C-MAC | 已退出 | 无特殊备注 | Semis & Systems | Divisional Carve-Outs | EMEA | $33 million ／ $36 million ／ $16 million ／ $184.7 million ／ $6.00 | 未披露 | 未披露 | Mar 23, 2012 - API Technologies Acquires UK-Based C-MAC Aerospace Ltd |
| Capsilon | 已退出 | 无特殊备注 | Financial Technology; Vertical Market Software | 创始人/成长合作 | North America | $10 billion ／ $50 million ／ $2 billion | Jun 07, 2016 - Capsilon Announces Growth Investment from Francisco Partners | 未披露 | 未披露 |
| Capsule | 已退出 | 无特殊备注 | Healthcare | Divisional Carve-Outs | North America | $635 million ／ $2.4 billion ／ $5.4 billion ／ $635m | Feb 11, 2019 - Francisco Partners Acquires Qualcomm Life | 未披露 | Apr 01, 2022 - Deal of the Year: Francisco Partners carves out Capsule with surgical precision |
| Civitas Learning | 当前持有 | 无特殊备注 | Education Technology ; Vertical Market Software | 私有化/买断 | North America | 未披露 | Feb 20, 2019 - Francisco Partners Makes Growth Investment in Civitas Learning | 未披露 | 未披露 |
| ClickSoftware | 已退出 | 无特殊备注 | Industrial Software; ERP & Business Intelligence | 上市公司私有化；创始人/成长合作 | EMEA | $1.4 Billion ／ $1.4 billion ／ $438 Million ／ $12.65 ／ $438 million ／ $26 ／ $27 million ／ $10 billion ／ $50 million ／ $2 billion | Apr 30, 2015 - ClickSoftware to Go Private; Signs Definitive Agreement to Be Acquired by Francisco Partners | Oct 01, 2019 - Francisco Partners completes the sale of ClickSoftware to Salesforce for $1.4 Billion Enterprise Value ／… | 未披露 |
| Corsair | 已退出 | 无特殊备注 | Semis & Systems; Consumer Technology | 创始人/成长合作 | North America | $525 Million ／ $10 billion ／ $60 billion ／ $1 billion ／ $75 million ／ $500 million ／ $7 billion ／ $50 million ／ $2 billion | 未披露 | Jul 26, 2017 - Francisco Partners Sells Majority Share in CORSAIR in a Transaction Valued at $525 Million | May 06, 2013 - Corsair Components, a Global Provider of High-Performance PC Components, Turns to Francisco Partners for… |
| CoverMyMeds | 已退出 | 无特殊备注 | Healthcare | 创始人/成长合作；Minority | North America | $1.4 billion ／ $10 billion ／ $7 billion ／ $50 million ／ $2 billion | Nov 05, 2014 - Francisco Partners Invests in CoverMyMeds | 未披露 | Jan 26, 2017 - McKesson announces purchase of CoverMyMeds, a Francisco Partners 组合资产 Company |
| Cross Match | 已退出 | 无特殊备注 | Semis & Systems; Security & Infrastructure | 并购整合；私有化/买断 | North America | 未披露 | Jul 16, 2012 - Francisco Partners Acquires Biometrics Provider Cross Match Technologies | Apr 21, 2014 - CrossMatch acquires DigitalPersona and appoints new CEO | Sep 24, 2018 - HID Global Acquires Crossmatch to Expand in Biometric Identity Management |
| Dextrys | 已退出 | 无特殊备注 | Tech-Enabled Services | 创始人/成长合作 | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| Discovery Education | 当前持有 | 无特殊备注 | Education Technology ; Vertical Market Software | Divisional Carve-Outs；Roll-Over | North America | $60 billion ／ $120 million | Mar 09, 2022 - Francisco Partners Announces Sale of Discovery Education ／ Feb 26, 2018 - Discovery Education … | Mar 09, 2022 - Francisco Partners Announces Sale of Discovery Education | 未披露 |
| Drawbridge | 当前持有 | 无特殊备注 | Financial Technology | 创始人/成长合作 | North America | $1 billion | Sep 06, 2022 - Drawbridge Announces Strategic Growth Investment from Francisco Partners | May 01, 2023 - Drawbridge Recognized as a 2023 Middle-Market Deal of the Year by Mergers & Acquisitions | 未披露 |
| Dynamo | 当前持有 | 无特殊备注 | Financial Technology; Vertical Market Software | 创始人/成长合作；并购整合；Roll-Over | North America | $684 billion ／ $25 billion ／ $3 ／ $10 billion | Oct 02, 2017 - Dynamo Software Announces Growth Investment From Francisco Partners | 未披露 | Sep 09, 2021 - Francisco Partners 组合资产 company Dynamo Software Announces Strategic Growth Investment from Blackstone Gr… |
| e2Open | 当前持有 | 无特殊备注 | ERP & Business Intelligence; Vertical Market Software | Roll-Over | North America | $1.7 billion ／ $9 billion ／ $40 billion ／ $550 million ／ $200 million ／ $20 million ／ $760m ／ $300 million ／ $380 million | May 27, 2021 - Francisco Partners Announces Pending Sale of BluJay to E2Open | May 27, 2021 - Francisco Partners Announces Pending Sale of BluJay to E2Open | 未披露 |
| Edifecs | 已退出 | 无特殊备注 | Healthcare; Vertical Market Software | 创始人/成长合作；并购整合 | North America | $33.5 billion ／ $2 billion | 未披露 | 未披露 | Jul 28, 2020 - TA Associates and Francisco Partners Announce Significant Growth Investment in Edifecs |
| EF Johnson | 已退出 | 无特殊备注 | Communications Technology | 上市公司私有化 | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| eFront | 已退出 | 无特殊备注 | Financial Technology; Vertical Market Software | 上市公司私有化；创始人/成长合作 | EMEA | €300 million ／ €1 billion ／ €11 billion ／ €3.5 billion ／ €4 billion ／ $50 million ／ $2 billion | 未披露 | Jan 27, 2015 - Bridgepoint acquires business software solutions provider eFront | 未披露 |
| EG | 当前持有 | 无特殊备注 | Industrial Software; Vertical Market Software; ERP & Business Intelligence | Divisional Carve-Outs；并购整合 | EMEA | EUR 400m ／ EUR 400 million ／ DKK 2.3bn ／ EUR 150 million ／ EUR 250 million ／ DKK 2.1 billion ／ USD 95 billion ／ DKK 1.755 billion ／ DKK 3.7 billion ／ EUR 1.8 billion ／ EUR 1.2 billion | Jun 03, 2019 - Francisco Partners completes acquisition of EG ／ Apr 03, 2019 - Francisco Partners to acquire … | Apr 03, 2019 - Francisco Partners to acquire EG from Axcel for DKK 3.7 billion | Apr 20, 2023 - EG closes acquisition of PatientSky Saas Norway ／ Aug 01, 2022 - EG closes acquisition of Ørn Software H… |
| Elite | 当前持有 | 无特殊备注 | Vertical Market Software | 私有化/买断 | North America | $258 billion | Aug 05, 2025 - Francisco Partners to Acquire Legal Tech Solutions Provider Elite From TPG | 未披露 | 未披露 |
| eSolutions | 已退出 | 无特殊备注 | Healthcare; Vertical Market Software | 创始人/成长合作；并购整合 | North America | $7 billion ／ $50 million ／ $2 billion | Jan 09, 2015 - eSolutions Receives Strategic Investment from Francisco Partners | 未披露 | 未披露 |
| Eventbrite | 已退出 | 无特殊备注 | Consumer Technology ; Financial Technology | Private Credit | North America | $225 million | 未披露 | 未披露 | May 11, 2020 - Eventbrite Announces Financing with Francisco Partners |
| Evite | 当前持有 | 无特殊备注 | Consumer Technology | 私有化/买断 | North America | 未披露 | Nov 01, 2024 - Evite Announces Strategic Growth Investment from Francisco Partners | 未披露 | 未披露 |
| Ex Libris | 已退出 | 无特殊备注 | Education Technology ; Vertical Market Software | 私有化/买断 | EMEA | 未披露 | 未披露 | 未披露 | 未披露 |
| Follett Software | 当前持有 | 无特殊备注 | Education Technology ; Vertical Market Software | Divisional Carve-Outs | North America | $25 billion | Sep 01, 2021 - Francisco Partners Acquires Follett School Solutions | Sep 01, 2021 - Francisco Partners Acquires Follett School Solutions | 未披露 |
| Forcepoint | 当前持有 | 无特殊备注 | Security & Infrastructure | Divisional Carve-Outs | North America | $137 billion | Oct 26, 2020 - Francisco Partners to Acquire Forcepoint from Raytheon Technologies | 未披露 | Jul 10, 2023 - TPG To Acquire Forcepoint Global Governments and Critical Infrastructure Business from Francisco Partners |
| Foundation 9 | 已退出 | 无特殊备注 | Tech-Enabled Services | 私有化/买断；并购整合 | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| GainSystems | 当前持有 | 无特殊备注 | ERP & Business Intelligence | 创始人/成长合作 | North America | 未披露 | Jan 25, 2022 - GAINSystems Announces Majority Investment from Francisco Partners ／ Jul 27, 2020 - GAINSystems… | 未披露 | 未披露 |
| Glorious | 当前持有 | 无特殊备注 | Consumer Technology | 创始人/成长合作 | North America | 未披露 | Nov 09, 2022 - Glorious Announces Strategic Growth Investment from Francisco Partners | 未披露 | 未披露 |
| GoodRx | 当前持有 | 无特殊备注 | Healthcare; Consumer Technology | 创始人/成长合作 | North America | $6.5 billion ／ $40 billion ／ $170 billion ／ $20 billion ／ $10 billion ／ $50 million ／ $2 billion | Oct 07, 2015 - Francisco Partners and Spectrum Equity Make Growth Investment in GoodRx | 未披露 | Aug 06, 2018 - Silver Lake Makes Strategic Investment in GoodRx; Joins Francisco Partners and Spectrum Equity |
| GoTo | 当前持有 | 无特殊备注 | Communications Technology ; Security & Infrastructure | 上市公司私有化 | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| Grass Valley | 已退出 | 无特殊备注 | Vertical Market Software; Semis & Systems; Communications Technology | Divisional Carve-Outs | North America | $7 billion ／ $50 million ／ $2 billion | 未披露 | 未披露 | 未披露 |
| Greenslate | 当前持有 | 无特殊备注 | ERP & Business Intelligence; Vertical Market Software | Minority；创始人/成长合作 | North America | $4 billion | Feb 10, 2023 - GreenSlate Announces Strategic Growth Investment from Francisco Partners | 未披露 | 未披露 |
| GXS | 已退出 | 无特殊备注 | Tech-Enabled Services | Divisional Carve-Outs；并购整合 | North America | $1.165 Billion ／ $800m ／ $265m ／ $100m ／ $1.165 billion ／ $1.065 billion ／ $100 million ／ $60 million ／ $800 million ／ $487 Million | 未披露 | Nov 05, 2013 - OpenText Enters Into Agreement to Acquire GXS | 未披露 |
| HealthcareSource | 已退出 | 无特殊备注 | Healthcare; Vertical Market Software | 并购整合 | North America | $35 billion ／ $2 billion ／ $25 billion ／ $10 billion ／ $50 million | May 28, 2015 - Back to News Francisco Partners Completes Acquisition of HealthcareSource ／ Apr 28, 2015 - Fra… | 未披露 | May 17, 2021 - Clearlake Capital-Backed symplr To Acquire HealthcareSource From Francisco Partners |
| Heat Software (fka FrontRange Solutions) | 已退出 | 无特殊备注 | Security & Infrastructure; ERP & Business Intelligence | 上市公司私有化；并购整合 | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| Hypercom | 已退出 | 无特殊备注 | Financial Technology; Semis & Systems | Minority；PIPEs / Sponsored M&A | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| iboss | 当前持有 | 无特殊备注 | Security & Infrastructure | Private Credit；创始人/成长合作 | North America | $145 Million ／ $25 ／ $145 million | 未披露 | 未披露 | Jan 06, 2021 - Leading SASE Cloud Security Provider iboss Raises $145 Million to Support Company’s Rapid Growth in $25B… |
| Ichor | 已退出 | 无特殊备注 | Semis & Systems | 私有化/买断 | North America | 未披露 | Jan 05, 2012 - Francisco Partners Acquires Ichor Systems | 未披露 | 未披露 |
| iconectiv | 已退出 | 无特殊备注 | Communications Technology | Minority；Divisional Carve-Outs | North America | USD 10 billion ／ USD 200 million ／ USD 1.20 billion | Mar 07, 2017 - Francisco Partners to Invest in Ericsson's iconectiv Business | Aug 22, 2025 - Francisco Partners Completes Sale of iconectiv to Koch ／ Aug 16, 2024 - Ericsson and Francisco Partners … | 未披露 |
| Jama Software | 当前持有 | 无特殊备注 | Industrial Software; Vertical Market Software | 私有化/买断 | North America | $1.2 ／ $1.2 billion ／ $80 | Mar 18, 2024 - Francisco Partners to Acquire Jama Software For $1.2B | 未披露 | 未披露 |
| Jamf | 当前持有 | 无特殊备注 | Security & Infrastructure | 上市公司私有化 | North America | $2.2 Billion ／ $13.05 ／ $2.2 billion ／ $176.0 ／ $178.0 million ／ $41.5 ／ $42.5 million ／ $100 billion | Oct 29, 2025 - Jamf Enters into Definitive Agreement to be Acquired by Francisco Partners in $2.2 Billion Tra… | 未披露 | 未披露 |
| K2 | 已退出 | 无特殊备注 | Security & Infrastructure | 创始人/成长合作 | North America | $100 million | 未披露 | 未披露 | Apr 22, 2015 - K2 Partners with Box to Power Collaboration with Business Workflow Applications |
| Keyloop | 当前持有 | 无特殊备注 | Industrial Software; Vertical Market Software; ERP & Business Intelligence | Divisional Carve-Outs；并购整合 | EMEA | $2 billion ／ $25 billion ／ $1.45 Billion ／ $1.45 billion | Mar 01, 2021 - Francisco Partners Completes Acquisition of International Business of CDK Global and Rebrands … | 未披露 | Mar 02, 2021 - Keyloop Acquires RAPID RTC and enquiryMAX |
| Kobalt | 当前持有 | 2026年已签约出售给Primary Wave，预计2026Q3交割；公开投资页状态仍滞后。 | Tech-Enabled Services | 创始人/成长合作 | EMEA | 未披露 | Sep 07, 2022 - Kobalt Selects Francisco Partners to Invest In Company’s Next Phase | 未披露 | Mar 23, 2026 - Primary Wave Music to Acquire Kobalt from Francisco Partners, Strengthening Independent Music Ecosystem |
| Kyruus | 已退出 | 无特殊备注 | Healthcare; Vertical Market Software | 创始人/成长合作 | North America | $30 Million ／ $30 million ／ $42 million ／ $155 million | Jun 10, 2020 - Kyruus Secures $30 Million Investment from Francisco Partners | 未披露 | 未披露 |
| Landmark | 已退出 | 无特殊备注 | Healthcare; Tech-Enabled Services | 创始人/成长合作 | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| LastPass | 当前持有 | 无特殊备注 | Security & Infrastructure; Consumer Technology | Divisional Carve-Outs | North America | $86.05 ／ $4.3 billion ／ $15 billion ／ $38 billion | 未披露 | Dec 17, 2019 - LogMeIn Enters into Definitive Agreement to be Acquired by Affiliates of Francisco Partners and Evergree… | 未披露 |
| LegalZoom | 当前持有 | 无特殊备注 | Consumer Technology | Minority | North America | $500 Million ／ $500 million ／ US$100 ／ $300 million ／ $724 billion ／ $304 billion ／ US$38.5bn ／ €33bn ／ US$10bn ／ €8.8bn | 未披露 | 未披露 | Jul 31, 2018 - LegalZoom Announces $500 Million Secondary Investment Led by Francisco Partners and GPI Capital, with Fr… |
| Legerity | 已退出 | 无特殊备注 | Semis & Systems | Divisional Carve-Outs | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| Litmos | 当前持有 | 无特殊备注 | Education Technology ; Vertical Market Software | Divisional Carve-Outs | North America | 未披露 | Dec 01, 2022 - Francisco Partners Completes Acquisition of Litmos from SAP ／ Aug 17, 2022 - Francisco Partner… | 未披露 | 未披露 |
| LiveU | 当前持有 | 无特殊备注 | Communications Technology ; Semis & Systems | 创始人/成长合作；Roll-Over | EMEA | $100 million ／ $260 billion ／ $25 billion ／ $500 million | May 28, 2019 - LiveU Announces Majority Investment from Francisco Partners to Accelerate Growth | 未披露 | Jul 20, 2021 - Carlyle to acquire LiveU from Francisco Partners |
| Lucidworks | 当前持有 | 无特殊备注 | Security & Infrastructure | Minority | North America | $100 Million ／ $100 million ／ $31 billion ／ $3.0 billion | 未披露 | 未披露 | Aug 12, 2019 - Lucidworks Raises $100 Million From Francisco Partners, TPG Sixth Street Partners, and Top Tier Capital … |
| LYNX Medical Systems | 已退出 | 无特殊备注 | Healthcare; Vertical Market Software | 创始人/成长合作 | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| Macrobond | 当前持有 | 无特殊备注 | Financial Technology | 创始人/成长合作；私有化/买断 | EMEA | EUR 22 billion ／ EUR 9 billion | Jul 10, 2023 - Francisco Partners Acquires Macrobond from Nordic Capital; Focuses on Growing its Global Prese… | 未披露 | 未披露 |
| Masternaut | 已退出 | 无特殊备注 | ERP & Business Intelligence; Semis & Systems; Tech-Enabled Services; Communications Technology | 上市公司私有化；Divisional Carve-Outs；并购整合 | EMEA | 未披露 | 未披露 | Jun 05, 2014 - Francisco Partners Sells Masternaut to Newly Formed Joint Venture between Summit Partners and FleetCor T… | 未披露 |
| Matrixx Software | 已退出 | 无特殊备注 | Communications Technology ; Security & Infrastructure | Private Credit | North America | $50 Million ／ $50 million ／ $25 billion | 未披露 | 未披露 | Oct 14, 2021 - MATRIXX Software Announces $50 Million in Growth Funding from Francisco Partners |
| Merative | 当前持有 | 无特殊备注 | Healthcare | Divisional Carve-Outs | North America | 未披露 | Jun 30, 2022 - Francisco Partners Completes Acquisition of IBM’s Healthcare Data and Analytics Assets; Launch… | 未披露 | 未披露 |
| Metaswitch | 已退出 | 无特殊备注 | Communications Technology | 创始人/成长合作 | EMEA | 未披露 | 未披露 | Jul 15, 2020 - Francisco Partners completes the sale of Metaswitch to Microsoft | 未披露 |
| Metrologic | 已退出 | 无特殊备注 | Semis & Systems | 上市公司私有化；创始人/成长合作 | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| Mincom | 已退出 | 无特殊备注 | Industrial Software; ERP & Business Intelligence | 上市公司私有化 | APAC | 未披露 | 未披露 | 未披露 | 未披露 |
| Mitel Networks | 已退出 | 无特殊备注 | Communications Technology | 创始人/成长合作；Minority；PIPEs / Sponsored M&A | North America | US$1.1 billion ／ US$100 million ／ US$6.52 ／ $31.96 ／ $392M ／ US$18 billion ／ US$45 million ／ $405 million | 未披露 | 未披露 | 未披露 |
| Movella | 当前持有 | 无特殊备注 | Semis & Systems | Private Credit | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| Muse Group | 当前持有 | 无特殊备注 | Consumer Technology | Minority；创始人/成长合作；Private Credit | EMEA; North America | 未披露 | 未披露 | 未披露 | Dec 04, 2023 - Francisco Partners Backs the Combination of Muse Group and Hal Leonard, Creating a Leading Global Music … |
| MyFitnessPal | 当前持有 | 无特殊备注 | Consumer Technology | Divisional Carve-Outs | North America | $345 million | Oct 30, 2020 - Francisco Partners Announces Acquisition of MyFitnessPal from Under Armour | May 05, 2021 - M&A Names Francisco Partners' Acquisition of MyFitnessPal as 2021 Health & Fitness Deal of the Year | 未披露 |
| MyHeritage | 当前持有 | 无特殊备注 | Consumer Technology | 创始人/成长合作 | EMEA | $49 million ／ $25 billion | 未披露 | Feb 25, 2021 - MyHeritage 将被 Leading Private Equity Firm Francisco Partners 收购 | 未披露 |
| myON | 已退出 | 无特殊备注 | Education Technology ; Vertical Market Software | Divisional Carve-Outs | North America | $10 billion | Feb 21, 2017 - New Chapter for myON as an Independent Literacy Software Company | 未披露 | 未披露 |
| New Relic | 当前持有 | 无特殊备注 | Security & Infrastructure | 上市公司私有化 | 未披露 | 未披露 | 未披露 | 未披露 | 未披露 |
| NextCapital | 已退出 | 无特殊备注 | Financial Technology | Private Credit；创始人/成长合作 | North America | $30 Million ／ $30 million ／ $85 million ／ $8 ／ $1.9 billion | 未披露 | 未披露 | Sep 22, 2020 - NextCapital Receives $30 Million Growth Investment Led by Francisco Partners |
| Nextech | 已退出 | 无特殊备注 | Healthcare; Vertical Market Software | 创始人/成长合作；并购整合 | North America | 未披露 | Oct 08, 2013 - Francisco Partners Makes Strategic Investment in Nextech | 未披露 | 未披露 |
| Nextraq | 已退出 | 无特殊备注 | Communications Technology ; Tech-Enabled Services | 创始人/成长合作 | North America | 未披露 | 未披露 | Oct 30, 2013 - Francisco Partners Completes Sale of NexTraq to FleetCor | 未披露 |
| NMI | 当前持有 | 无特殊备注 | Financial Technology | 并购整合；创始人/成长合作 | North America | 550 million transaction ／ 5.8 billion transaction ／ $440 billion ／ $440 ／ $90 ／ $165 billion ／ $150 billion ／ $25 billion ／ $25 million ／ $500 million ／ $8 billion ／ $100 ／ $70 billion ／ $10 billion ／ $1.7 billion ／ $8 million ／ $150 million ／ $200 million | Sep 09, 2021 - Francisco Partners 组合资产 company NMI Announces Strategic Growth Investment from Insight Partner… | 未披露 | Aug 12, 2025 - NMI Ushers in Next Era of Embedded Payments with New CEO Appointment ／ Jan 18, 2022 - NMI Acquires IRIS … |
| NPTest / Credence | 已退出 | 无特殊备注 | Semis & Systems | Divisional Carve-Outs | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| nShift (fka Consignor and Unifaun) | 当前持有 | 无特殊备注 | Vertical Market Software | 并购整合；创始人/成长合作 | EMEA | $25 billion ／ $7 billion | Jul 31, 2020 - Francisco Partners acquires Consignor Group for NOK 1.5 Billion | Feb 17, 2021 - Francisco Partners and Marlin Equity Partners complete merger of Consignor and Unifaun | 未披露 |
| Numonyx | 已退出 | 无特殊备注 | Semis & Systems | Divisional Carve-Outs；PIPEs / Sponsored M&A；Minority | EMEA | 未披露 | 未披露 | 未披露 | 未披露 |
| NZXT | 当前持有 | 无特殊备注 | Consumer Technology | 创始人/成长合作；Minority | North America | $100 million | 未披露 | 未披露 | Dec 08, 2021 - NZXT Secures First-Ever Strategic Investment Led By Francisco Partners |
| OEConnection | 当前持有 | 无特殊备注 | Industrial Software; Vertical Market Software | 私有化/买断 | North America | 未披露 | Nov 11, 2025 - Francisco Partners to Acquire Majority Stake in OEConnection from Genstar Capital | Nov 11, 2025 - Francisco Partners to Acquire Majority Stake in OEConnection from Genstar Capital | 未披露 |
| Office Ally | 当前持有 | 无特殊备注 | Healthcare | 私有化/买断 | North America | $55 billion ／ 950 million transaction | Dec 20, 2021 - Francisco Partners Acquires Office Ally to Accelerate Growth | 未披露 | Apr 07, 2025 - Office Ally Embarks on Next Phase of Growth and Innovation with New Mountain Capital and Francisco Partn… |
| OfficeTiger | 已退出 | 无特殊备注 | Tech-Enabled Services | 创始人/成长合作 | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| ON / AMI Semiconductor | 已退出 | 无特殊备注 | Semis & Systems | Divisional Carve-Outs；并购整合 | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| OpenTech | 当前持有 | 无特殊备注 | Semis & Systems | 创始人/成长合作 | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| Operative (SintecMedia) | 当前持有 | 无特殊备注 | Vertical Market Software | 创始人/成长合作；并购整合 | EMEA | $72.09 billion ／ $33 billion ／ $10 billion ／ $2 billion | Apr 07, 2016 - Francisco Partners acquires SintecMedia | Nov 29, 2016 - Operative, Inc. Announces Acquisition by SintecMedia | 未披露 |
| Optanix | 已退出 | 无特殊备注 | Communications Technology ; Security & Infrastructure | Divisional Carve-Outs；创始人/成长合作 | North America | 未披露 | 未披露 | 未披露 | Feb 01, 2016 - Optanix Launches to Transform IT Operations Management and Optimize the Availability and Performance of … |
| Orchard | 已退出 | 无特殊备注 | Healthcare; Vertical Market Software | 创始人/成长合作 | North America | 未披露 | Sep 30, 2019 - Francisco Partners to Acquire Orchard Software | 未披露 | Jul 29, 2025 - Clinisys Acquires Orchard Software |
| Orisha | 当前持有 | 无特殊备注 | Industrial Software; Vertical Market Software | 并购整合 | EMEA | €250 million ／ €200m ／ $65 billion | 未披露 | 未披露 | Jul 16, 2024 - Francisco Partners and TA Associates Partner to Drive Continued Growth of Orisha |
| Paradigm | 当前持有 | 无特殊备注 | Vertical Market Software; Financial Technology | 创始人/成长合作 | North America | $25 billion ／ $2.25 billion | Oct 13, 2021 - Paradigm Announces Strategic Growth Investment from Francisco Partners | 未披露 | Feb 17, 2022 - Paradigm Announces Acquisition of Legal Accounting Software TrustBooks |
| PayLease | 已退出 | 无特殊备注 | Financial Technology; Vertical Market Software | 创始人/成长合作；Roll-Over | North America | $10 billion ／ $2 Billion ／ $400 million | May 30, 2014 - PayLease Announces New Investment from Francisco Partners | 未披露 | Jun 28, 2017 - PayLease Announces Strategic Growth Investment from Vista Equity Partners ／ Mar 06, 2015 - PayLease and … |
| Paymetric | 已退出 | 无特殊备注 | Financial Technology | 私有化/买断 | North America | $30 ／ USD 10 billion | Aug 28, 2013 - Francisco Partners To Make Majority Investment In Paymetric | 未披露 | 未披露 |
| Paysafe | 当前持有 | 无特殊备注 | Financial Technology | 上市公司私有化；并购整合 | EMEA | $9 billion ／ $100 billion ／ $150.0 million ／ $2.0 billion ／ $500 million ／ $350 million ／ $98 billion ／ $584 billion ／ $105.1 billion ／ $160.3 billion ／ $79 billion | 未披露 | Dec 07, 2020 - Foley Trasimene Acquisition Corp. II and Paysafe, A Leading Global Payments Provider Focused on Digital … | 未披露 |
| Payscale | 当前持有 | 无特殊备注 | ERP & Business Intelligence | 并购整合；私有化/买断 | North America | $1.4 ／ $25 billion ／ $325 Million ／ $58 billion ／ $74 billion | Apr 25, 2019 - PayScale Announces Majority Growth Investment from Francisco Partners at an Enterprise Value o… | 未披露 | Aug 18, 2021 - Payscale Continues Growth Trend Through Acquisition of Pay Equity Analysis and Compensation Management S… |
| Perforce | 当前持有 | 无特殊备注 | Security & Infrastructure | 并购整合；私有化/买断 | North America | $10 billion ／ $8 billion | Jul 08, 2019 - Perforce Software Receives Strategic Investment From Francisco Partners To Accelerate Growth ／… | 未披露 | 未披露 |
| Pet Circle | 当前持有 | 无特殊备注 | Consumer Technology | 创始人/成长合作；Minority | APAC | $10.2 | 未披露 | 未披露 | Nov 14, 2017 - Pet Circle Raises Growth Equity Investment from lead investor Francisco Partners and existing investor A… |
| Plex Systems | 已退出 | 无特殊备注 | Industrial Software; Vertical Market Software; ERP & Business Intelligence | 私有化/买断 | North America | $2.22 Billion ／ $2.22 billion ／ 8 billion transaction ／ $25 billion ／ $50 Million ／ $50 million ／ $30 Million ／ $30 million ／ $7 billion ／ $2 billion | Jun 06, 2012 - Francisco Partners to Acquire Plex Systems, Inc. | Aug 16, 2022 - Plex Systems to Rockwell Automation Named as a Finalist for the The Deal's Private Equity Deal of the Ye… | Jun 10, 2014 - Plex Systems Secures $50 Million Round of Funding Led by T. Rowe Price, Joining Existing Investors Franc… |
| Primavera | 已退出 | 无特殊备注 | Industrial Software; Vertical Market Software | 创始人/成长合作；并购整合 | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| Prometheus | 已退出 | 无特殊备注 | Industrial Software; Vertical Market Software; ERP & Business Intelligence | 创始人/成长合作；并购整合 | North America | $1 Billion ／ $1 billion ／ $17 billion ／ $10 billion | Nov 08, 2016 - Prometheus Group Announces Strategic Investment from Francisco Partners | 未披露 | May 30, 2019 - Genstar Capital Acquires Prometheus Group for Over $1 Billion ／ Jun 05, 2017 - Prometheus Group Acquires… |
| Property Finder | 当前持有 | 无特殊备注 | Consumer Technology | Private Credit | EMEA | 未披露 | 未披露 | 未披露 | 未披露 |
| QGenda | 已退出 | 无特殊备注 | Healthcare; Vertical Market Software | 创始人/成长合作；并购整合 | North America | $10 billion ／ $50 million ／ $2 billion | Aug 12, 2024 - Francisco Partners Announces Sale of QGenda to Hearst ／ Jun 01, 2016 - Francisco Partners Make… | Aug 12, 2024 - Francisco Partners Announces Sale of QGenda to Hearst | Jun 10, 2020 - QGenda Announces Strategic Growth Investment from ICONIQ Capital |
| QuadraMed | 已退出 | 无特殊备注 | Healthcare; Vertical Market Software | 上市公司私有化 | North America | 未披露 | 未披露 | Sep 27, 2012 - Francisco Partners Sells Quantim Division of QuadraMed to Nuance Communications | Jun 03, 2013 - Constellation acquires QuadraMed Corporation |
| Quest | 已退出 | 无特殊备注 | Security & Infrastructure | Divisional Carve-Outs；并购整合 | North America | $55 billion ／ $2 Billion ／ $2 billion ／ $10 billion ／ $50 million ／ $29 billion ／ $28 billion | Nov 29, 2021 - Francisco Partners Announces Sale of Quest Software | Nov 29, 2021 - Francisco Partners Announces Sale of Quest Software | Apr 18, 2019 - Quest Acquires Development & Database Market Leader ApexSQL to Enhance Information Management Business S… |
| Quorum Software | 当前持有 | 无特殊备注 | Industrial Software; Vertical Market Software | 私有化/买断 | 未披露 | 未披露 | Mar 04, 2025 - Francisco Partners to Acquire Quorum Software | 未披露 | 未披露 |
| R2Net | 已退出 | 无特殊备注 | Consumer Technology | 创始人/成长合作 | North America | $10 billion ／ $140 Million ／ $140 million | Apr 06, 2017 - JamesAllen.com Raises $140 Million Growth Equity Investment from Francisco Partners To Transfo… | Sep 18, 2017 - Francisco Partners Completes Sale of R2Net, Parent Company of JamesAllen.com, to Signet Jewelers | 未披露 |
| RBmedia | 当前持有 | 无特殊备注 | Tech-Enabled Services | 私有化/买断 | North America | $58 billion ／ $52 billion | 未披露 | 未披露 | Sep 14, 2023 - Francisco Partners Joins Forces with H.I.G. Capital to Acquire and Invest in RBmedia |
| Reciprocity | 当前持有 | 无特殊备注 | Security & Infrastructure | Private Credit | North America | $60M | Sep 08, 2022 - Reciprocity Announces $60M Growth Investment from Francisco Partners | 未披露 | 未披露 |
| Redis Labs | 当前持有 | 无特殊备注 | Security & Infrastructure | 创始人/成长合作；Minority | EMEA | $60 Million ／ $60 million ／ $146 million | 未披露 | 未披露 | 未披露 |
| RedPrairie | 已退出 | 无特殊备注 | ERP & Business Intelligence | 并购整合；私有化/买断 | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| Redsail Technologies | 当前持有 | 无特殊备注 | Healthcare; Vertical Market Software | Divisional Carve-Outs；并购整合 | North America | $75 billion | Mar 02, 2020 - Francisco Partners to Acquire Pharmacy and Public Sector Software Firm Smith Technologies | 未披露 | Jun 13, 2024 - Leonard Green & Partners and Francisco Partners Join Forces to Drive the Next Chapter of Growth at RedSa… |
| Renaissance | 当前持有 | 无特殊备注 | Education Technology ; Vertical Market Software | 并购整合；私有化/买断 | North America | $731 billion ／ $25 billion ／ $12 billion ／ $50 million ／ $2 billion ／ $35 billion | May 03, 2018 - Francisco Partners to Acquire Renaissance | 未披露 | Nov 09, 2021 - Francisco Partners 组合资产 Company Renaissance Announces Significant Growth Investment from Blackstone ／ Ma… |
| SatixFy | 已退出 | 无特殊备注 | Communications Technology ; Semis & Systems | Private Credit | EMEA | 未披露 | 未披露 | 未披露 | 未披露 |
| Sectigo | 已退出 | 无特殊备注 | Security & Infrastructure | Divisional Carve-Outs | North America | $23 billion ／ $50 million ／ $2 billion | Oct 31, 2017 - Francisco Partners Announces Acquisition of Comodo’s Certificate Authority (SSL) Business | Sep 16, 2020 - Sectigo to 被 GI Partners 收购 | 未披露 |
| ShoreGroup | 已退出 | 无特殊备注 | Security & Infrastructure; Communications Technology | 私有化/买断 | North America | 未披露 | Jun 04, 2015 - Francisco Partners Agrees to Make Strategic Investment in ShoreGroup ／ Jan 15, 2007 - Francisc… | 未披露 | 未披露 |
| Smart Modular | 已退出 | 无特殊备注 | Semis & Systems | Divisional Carve-Outs；创始人/成长合作 | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| SmartBear | 当前持有 | 无特殊备注 | Security & Infrastructure | 并购整合；私有化/买断 | North America | $58 billion ／ $13 billion ／ $10 billion | Oct 21, 2020 - SmartBear Announces Investment from Vista Equity Partners | 未披露 | Aug 28, 2018 - SmartBear Acquiring Zephyr To Expand Its Market Leading Test Management 组合资产 And Strengthen Atlassian Ma… |
| SmartFocus | 已退出 | 无特殊备注 | ERP & Business Intelligence | 上市公司私有化；创始人/成长合作 | EMEA | 未披露 | 未披露 | 未披露 | 未披露 |
| Sonicwall | 当前持有 | 无特殊备注 | Security & Infrastructure | Divisional Carve-Outs | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| Source Photonics | 已退出 | 无特殊备注 | Communications Technology ; Semis & Systems | Divisional Carve-Outs | North America | $10 billion ／ $2.5 billion ／ $7 billion ／ $50 million ／ $2 billion | Jan 20, 2017 - Francisco Partners Completes the Sale of Source Photonics to Redview Capital and Asia-IO | Jan 20, 2017 - Francisco Partners Completes the Sale of Source Photonics to Redview Capital and Asia-IO | 未披露 |
| SourceScrub | 当前持有 | 无特殊备注 | Financial Technology; Vertical Market Software | 创始人/成长合作 | North America | $500 million ／ $25 billion ／ $1.3 billion | Sep 28, 2021 - SourceScrub Announces Strategic Growth Investment from Francisco Partners | 未披露 | Aug 08, 2025 - Datasite to Acquire Sourcescrub, Expanding Private Market Intelligence Solutions |
| Specific Media | 已退出 | 无特殊备注 | Consumer Technology | 创始人/成长合作；Minority | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| Spire | 已退出 | 无特殊备注 | Communications Technology ; Vertical Market Software; Tech-Enabled Services | Private Credit | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| ST Math | 当前持有 | 无特殊备注 | Education Technology | Private Credit | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| STARLIMS | 当前持有 | 2026年公开公告显示Turn/River投资且FP将退出；公开投资页状态仍滞后。 | Healthcare; Vertical Market Software | Divisional Carve-Outs | North America | $25 billion | Jul 07, 2021 - Francisco Partners to Acquire STARLIMS | 未披露 | 未披露 |
| Sumo Logic | 当前持有 | 无特殊备注 | Security & Infrastructure | 上市公司私有化 | North America | $1.7 Billion ／ $12.05 ／ $1.7 billion | Feb 09, 2023 - Sumo Logic 将被 Francisco Partners for $1.7 Billion 收购 | Feb 09, 2023 - Sumo Logic 将被 Francisco Partners for $1.7 Billion 收购 | 未披露 |
| Symplr | 当前持有 | 无特殊备注 | Healthcare; Vertical Market Software | Roll-Over | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| T-System | 已退出 | 无特殊备注 | Healthcare; Vertical Market Software | 创始人/成长合作；私有化/买断 | North America | 未披露 | 未披露 | 未披露 | Jun 22, 2012 - T-System Acquires Marina Medical Billing Service ／ Mar 27, 2012 - Francisco Partners’ 组合资产 Company T-Sys… |
| Talentsoft | 已退出 | 无特殊备注 | Vertical Market Software | Private Credit | EMEA | 未披露 | 未披露 | 未披露 | 未披露 |
| Teachers Curriculum Institute (TCI) | 当前持有 | 无特殊备注 | Education Technology | 创始人/成长合作 | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| Terran Orbital | 已退出 | 无特殊备注 | Communications Technology ; Semis & Systems; Tech-Enabled Services | Private Credit | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| The Weather Company | 当前持有 | 无特殊备注 | Consumer Technology | Divisional Carve-Outs | North America | $5 | Feb 01, 2024 - Francisco Partners Completes Acquisition of The Weather Company | 未披露 | 未披露 |
| Thinventory (fka ByBox) | 当前持有 | 无特殊备注 | Tech-Enabled Services | 私有化/买断；创始人/成长合作 | EMEA | £221 million ／ £37.5 million | Sep 06, 2018 - Francisco Partners Invests in ByBox | 未披露 | 未披露 |
| Tile | 已退出 | 无特殊备注 | Semis & Systems; Consumer Technology | Minority；Roll-Over | North America | $45 Million | 未披露 | 未披露 | Jul 24, 2019 - Tile Secures $45 Million to Advance Embedded Partnerships, International Growth, Product and Service Exp… |
| TouchBistro | 当前持有 | 无特殊备注 | Financial Technology; Vertical Market Software | Private Credit | North America | $150 Million ／ $150 million | 未披露 | 未披露 | Nov 01, 2022 - TouchBistro Raises $150 Million From Francisco Partners to Accelerate Growth and Pursue Strategic Acquis… |
| TRC Healthcare | 已退出 | 无特殊备注 | Healthcare; Vertical Market Software | 创始人/成长合作 | North America | $10 billion | Sep 05, 2017 - Francisco Partners Announces Successful Sale of TRC Healthcare ／ Aug 10, 2012 - Francisco Part… | Sep 05, 2017 - Francisco Partners Announces Successful Sale of TRC Healthcare | 未披露 |
| Trellis Rx | 已退出 | 无特殊备注 | Healthcare; Tech-Enabled Services | 并购整合；创始人/成长合作 | North America | $25 billion ／ $100,000 ／ $2 million | Jun 02, 2022 - Francisco Partners Announces Sale of Trellis Rx | Apr 03, 2023 - Trellis Rx Recognized as Middle-Market Deal of the Year by Buyouts Insider ／ Oct 04, 2022 - Trellis Rx R… | Aug 19, 2021 - Francisco Partners Congratulates Three 组合资产 Companies for Recognition on 2021 Inc. 5000 List |
| TS Imagine | 当前持有 | 无特殊备注 | Financial Technology; Vertical Market Software | 并购整合；私有化/买断 | North America | $25 billion | May 03, 2021 - Francisco Partners Announces Combination of TradingScreen and Imagine Software to Create Leadi… | Apr 25, 2022 - TS Imagine Recognized as Middle-Market Deal of the Year by M&A | 未披露 |
| Ultra Clean Holdings | 已退出 | 无特殊备注 | Semis & Systems | Divisional Carve-Outs；并购整合 | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| UnifiedPost | 当前持有 | 无特殊备注 | Financial Technology; Vertical Market Software | Private Credit | EMEA | 未披露 | 未披露 | 未披露 | 未披露 |
| Vendavo | 当前持有 | 无特殊备注 | Industrial Software; ERP & Business Intelligence | 私有化/买断；并购整合 | North America | $10 billion ／ $25 billion ／ $570 million ／ $157 million ／ $7 billion ／ $50 million ／ $2 billion ／ $2.5 billion | Oct 30, 2014 - Francisco Partners Completes Acquisition of Vendavo, Inc. ／ Oct 01, 2014 - Francisco Partners … | 未披露 | Aug 04, 2021 - Vendavo Secures Strategic Investment to Accelerate Growth ／ Jul 11, 2017 - Vendavo Acquires Endeavor Com… |
| Veradigm | 当前持有 | 无特殊备注 | 未披露 | Private Credit | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| Verifone | 当前持有 | 无特殊备注 | Financial Technology; Semis & Systems | 上市公司私有化 | North America | $3.4 Billion ／ $23.04 ／ $3.4 billion ／ $15.00 ／ $135.5 billion | Apr 09, 2018 - Verifone 将被 Francisco Partners for $3.4 Billion 收购 | 未披露 | 未披露 |
| Veson Nautical | 当前持有 | 无特殊备注 | Industrial Software; Vertical Market Software | 创始人/成长合作 | North America | $200 million ／ $4 billion | Mar 17, 2022 - Veson Nautical Announces Significant Growth Investment from Francisco Partners | 未披露 | 未披露 |
| VitalSource | 当前持有 | 无特殊备注 | Education Technology ; Vertical Market Software | Divisional Carve-Outs | North America | $25 billion | Apr 14, 2021 - Ingram Content Group Announces Agreement for Francisco Partners to Acquire VitalSource Technol… | 未披露 | 未披露 |
| Watchguard | 已退出 | 无特殊备注 | Security & Infrastructure | 上市公司私有化；并购整合 | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| Waystar | 已退出 | 无特殊备注 | Healthcare; Vertical Market Software | Roll-Over | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| WebTrends | 已退出 | 无特殊备注 | ERP & Business Intelligence | Divisional Carve-Outs | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| XcelleNet | 已退出 | 无特殊备注 | Security & Infrastructure | Divisional Carve-Outs | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| Zego | 已退出 | 无特殊备注 | Vertical Market Software; Financial Technology | Roll-Over | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| Zenefits | 已退出 | 无特殊备注 | Vertical Market Software | Private Credit | North America | 未披露 | 未披露 | 未披露 | 未披露 |
| Zocdoc | 已退出 | 无特殊备注 | Healthcare; Consumer Technology | Private Credit；创始人/成长合作 | North America | $150 Million ／ $150 million ／ $25 billion | 未披露 | 未披露 | Feb 11, 2021 - Zocdoc Announces $150 Million in Growth Financing from Francisco Partners |
| Zotec Partners | 当前持有 | 无特殊备注 | Healthcare | Private Credit | North America | 未披露 | 未披露 | 未披露 | Nov 01, 2023 - Francisco Partners Provides Debt Refinancing to Zotec Partners |
| Blackline Safety | 已公告/待交割 | 2026-04-08签署收购协议，最高金额$850m；交割状态需继续核验。 | Connected safety / industrial IoT software | Public-to-private / take-private | North America | $850 Million ／ $9.00 ／ $0.50 ／ $9.50 ／ $804 million ／ $850 million ／ $145.0 million ／ $148.9 million ／ $0.50. ／ $0.375 ／ $90.5 million ／ $30.6 million ／ $56.3 million ／ $4.0 million ／ $45 million ／ $8.15 ／ $11.10 ／ $0 ／ $0.40 ／ $50 billion | Apr 08, 2026 - Blackline Safety Enters into Definitive Agreement to be Acquired by Francisco Partners for up … | 未披露 | Planned private ownership; immediate liquidity plus CVR structure; DAK Capital rollover. |
| Healthland | 待继续核验 | 需继续人工核验 | 未披露 | 未披露 | 未披露 | 未披露 | 未披露 | 未披露 | 未披露 |
| Prosper | 待继续核验 | 需继续人工核验 | 未披露 | 未披露 | 未披露 | 未披露 | 未披露 | 未披露 | 未披露 |
| News Break | 待继续核验 | 需继续人工核验 | 未披露 | 未披露 | 未披露 | 未披露 | 未披露 | 未披露 | 未披露 |
待核验资料附录：以下保留ABAB Club课程的研究记录。表中“当前”“已退出”、金额、估值、回报及证据等级均沿用原资料日期与口径，未逐项完成本次独立核验，不能视为现时持仓或机构实际回款。
[2]
待核验资料附录｜第38章｜核心案例深读
本节为原课程的分组标题，具体资料见其后的细分章节；相关内容保留为待核验研究记录。[2]
待核验资料附录｜第38章｜1. ClickSoftware：上市公司私有化后的战略出售
ClickSoftware是FP public-to-private打法的代表。公开资料显示，FP在2015年推动ClickSoftware私有化，后续通过CEO调整、全球field service management扩张、AI驱动排班和路线优化等方式提升平台价值。2019年，ClickSoftware卖给Salesforce，公开披露企业价值为$1.4bn。[2]
课程写法要把三个数字层级分开：私有化买入价、战略出售企业价值、FP基金层面回款。公开资料能确认的是交易路径和企业价值，不能直接推导IRR或MOIC。[2]
待核验资料附录｜第38章｜2. Boomi、Merative、The Weather Company：集团剥离后的独立化
Boomi是从Dell剥离的集成平台，交易金额为$4bn；Merative来自IBM Watson Health资产，公开报道为超过$1bn或约$1bn口径；The Weather Company从IBM剥离，IBM后续披露的对价结构包括现金、递延和或有对价。三者都体现FP擅长把非核心科技资产从大集团中剥离出来，重建独立管理、产品路线和销售节奏。[2]
这类案例不能只看交易金额。carve-out的难点在于独立财务、人力、IT、品牌、客户迁移和产品路线重塑。课程应把“剥离交易金额”和“投后独立化能力”并列分析。[2]
待核验资料附录｜第38章｜3. New Relic、Sumo Logic、LogMeIn：软件私有化和长期产品改造
New Relic、Sumo Logic和LogMeIn都体现FP对公开市场软件公司的私有化能力。New Relic交易金额约$6.5bn，Sumo Logic约$1.7bn，LogMeIn约$4.3bn，后续GoTo和LastPass成为不同业务平台。[2]
这组案例说明，私有化不是简单低价买入，而是把企业从季度业绩压力中移出，重新做产品、销售、客户成功、成本结构和战略定位。退出尚未发生或仍需核验时，不能因为买入金额大就写回报。[2]
待核验资料附录｜第38章｜4. Plex、BluJay、Aesynt、CoverMyMeds：战略买方退出
Plex卖给Rockwell Automation，公开交易金额$2.22bn；BluJay卖给E2open，市场报道约$1.7bn；Aesynt卖给Omnicell，金额$275m；CoverMyMeds卖给McKesson，公开报道$1.1bn。这些案例共同体现战略买方对垂直软件、医疗自动化、物流软件和医疗工作流平台的需求。[2]
课程训练重点是：战略出售金额可能是企业价值或交易对价，不等于FP单独回款。尤其是共同投资人、债务、滚动权益和管理层激励未披露时，不能推导基金收益。[2]
待核验资料附录｜第38章｜5. Kobalt、STARLIMS、Avalon、Blackline Safety：2026状态边界
2026年状态修正是本章的重要部分。Kobalt已签约出售给Primary Wave，预计2026Q3交割；STARLIMS公开公告显示Turn/River投资且FP将退出；Avalon是WindRose投资且FP继续追加投资；Blackline Safety于2026-04-08签署收购协议，最高金额$850m，但尚需交割状态核验。[2]
这些案例提醒学员：投资页状态可能滞后，公告签约也不等于交割完成。课程里应写“签约中”“待交割”“将退出”“继续部分持有”，而不是用单一标签掩盖时间线。[2]
待核验资料附录｜第38章｜金额口径框架
待核验资料附录｜第38章｜金额口径框架
| 口径 | 代表案例 | 正确写法 | 常见误判 |
|---|---|---|---|
| 私有化交易金额 | New Relic、Sumo Logic、LogMeIn、Verifone | 写成买入或签约交易金额 | 写成已实现回款 |
| 企业价值/战略出售 | ClickSoftware、Plex、GXS、Aesynt | 写成交易企业价值或出售金额 | 写成FP基金净回款 |
| 签约上限金额 | Blackline Safety | 写成最高金额和待交割状态 | 写成已完成收购 |
| 融资/再融资 | SonicWall/Quest、LegalZoom等 | 写成债务或资本结构事件 | 写成股权买卖价格 |
| IPO/上市流动性 | GoodRx、Ichor、Barracuda、LegalZoom | 写成公开市场路径 | 写成一次性完全退出 |
| 未披露 | 多数当前持有和部分退出案例 | 写成未披露 | 用估算替代事实 |
待核验资料附录：以下保留ABAB Club课程的研究记录。表中“当前”“已退出”、金额、估值、回报及证据等级均沿用原资料日期与口径，未逐项完成本次独立核验，不能视为现时持仓或机构实际回款。
[2]
待核验资料附录｜第38章｜学员分析模板
1. 先判断资产状态：当前持有、已退出、签约待交割、将退出、部分持有、待继续核验。[2]
2. 再判断交易类型：集团剥离、上市公司私有化、并购整合、创始人成长合作、战略出售、金融买家间出售或IPO。[2]
3. 拆金额：买入金额、企业价值、签约上限、融资轮、债务再融资、IPO市值、出售价格和基金回款分别标注。[2]
4. 看改造路径：独立化、产品重构、销售扩张、补强并购、管理层调整、平台拆分或再资本化。[2]
5. 写边界：未披露就写未披露；状态滞后就写“公开资料状态存在时间差，需继续核验”。[2]
待核验资料附录｜第38章｜阅读边界
本章用于训练Francisco Partners公开可核验案例的资产范围、金额口径和退出路径识别，不构成投资建议或基金评价。所有金额只保留公开资料中能直接识别的原始层级；未披露买入价、卖出价、持股比例、IRR或MOIC时，一律写“未披露”或“需继续核验”。[2]
来源
- Francisco Partners — About（在新窗口打开）
- ABAB Club VC课程｜第38章：Francisco Partners案例库：从软件私有化、平台整合到战略退出（待核验研究快照）