An Atlanta private equity firm closed a $500 million fund focused on software companies, according to a Sept. 16 announcement.
This is Resurgens Technology Partners’ second fund. Its inaugural, $200 million fund was closed in January 2019.
The shift in capital markets is causing startup executives to trim their operations, leading to mass layoffs. OneTrust LLC and FullStory Inc., two local startups that surpassed $1 billion, both laid off employees in the past few months. Georgia startups have seen a $300 million drop in funding because of the pullback. This trend is affecting tech companies nationwide.
That has started to change with the increase in early-stage venture capital firms, such as Zane Venture Fund, Overline and Circadian Ventures. ASH Ventures, a PE firm with hands in the restaurant and technology industries, is raising a $200 million fund focused on digital services, according to April filings with the U.S. Securities and Exchange Commission.
Read more: Biz Journals
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