Firm Overview
Francisco Partners Overview YEAR FOUNDED CAPITAL RAISED 100% TECHNOLOGY 1999 $15 BILLION OVER 50 INVESTMENT PROFESSIONALS OFFICES IN SAN FRANCISCO, LONDON & NEW YORK VERTICAL MARKET SPECIALIZATION 21 OPERATING PARTNERS Healthcare IT Hardware / Semis Vertical Market FinTech Software Communications Infrastructure Software San Francisco London New York City Security Digital / Internet ACROSS OUR PORTFOLIO SINCE INCEPTION FLEXIBLE CAPITAL DEEP EXPERIENCE Divisional Carve Out Growth Equity O VER O VER 175 110 Take Privates Partnering with Founders $25+ Billion 100,000+ F OLLOW - ON P LATFORM Complexity Structured Equity A CQUISITIONS Revenues Employees COMPANIES Differentiated Access + Differentiated Insights FPI FPII FPIII FPIV Agility FPV 2000 2006 2011 2015 2016 2018 2
Deep Focus in Key Tech Sectors EXITED PORTFOLIO CURRENT PORTFOLIO HEALTHCARE IT FINTECH (Avangate) (Procera) COMMUNICATIONS SECURITY (Bomgar) (OSY) HARDWARE / SEMIS VERTICAL MARKET (Kewill) SOFTWARE (SintecMedia) INFRASTRUCTURE SOFTWARE DIGITAL / INTERNET 3
FP Team – Deal Partners CROSS SECTOR HEALTHCARE IT FINTECH / VERTICAL MARKET DIPANJAN “DJ” DEB DAVID GOLOB EZRA PERLMAN CHRIS ADAMS PETER CHRISTODOULO JASON BREIN 1999 2001 2003 2008 2008 2012 Co-Founder & CEO CIO CO-PRESIDENT TPG, ROBERTSON TIGER MANAGEMENT, BATTERY VENTURES, AMERICAN SECURITIES, THOMAS H. LEE PARTNERS, ELEVATION PARTNERS, STEPHENS,MCKINSEY GENERAL ATLANTIC, MCKINSEY ADVANTA, OLIVER WYMAN BAIN CREDIT SUISSE GOLDMAN SACHS STANFORD UNIVERSITY STANFORD UNIVERSITY STANFORD UNIVERSITY STANFORD UNIVERSITY HARVARD COLLEGE HARVARD UNIVERSITY U.C. BERKELEY HARVARD COLLEGE HARVARD COLLEGE GEORGIA TECH PRINCETON UNIVERSITY CAPITAL COMMUNICATIONS / FP CREDIT EUROPE & ISRAEL MARKETS SECURITY MEGAN KARLEN SCOTT EISENBERG ANDREW KOWAL BRIAN DECKER DEEP SHAH MATT SPETZLER PETRI OKSANEN 2016 2017 2001 2008 2003 2004 2005 CO-PRESIDENT GSO, JP MORGAN, PRINCES GATE INVESTORS, MCKINSEY PRINCES GATE INVESTORS, BAIN MORGAN STANLEY, CASTLE HARLAN, GLEACHER PARTNERS, LEHMAN. FURMAN SELZ MORGAN STANLEY MORGAN STANLEY MICROSOFT MORGAN STANLEY HARVARD UNIVERSITY THE WHARTON SCHOOL THE WHARTON SCHOOL CORNELL UNIVERSITY UNIVERSITY OF STANFORD UNIVERSITY UNIV OF WATERLOO HARVARD COLLEGE GEORGE WASHINGTON UNIVERSITY OF PENNSYLVANIA UNIVERSITY OF WATERLOO CAMBRIDGE GEORGIA TECH 4
Sourcing is Sector Focused and Partner Driven BOTTOM UP CORPORATE CALLING ON NETWORKS / SCREENS THEMES COVERAGE FOUNDERS BANKS (Kewill) (Procera) 5
Technology Increasingly Ubiquitous IT Spending By Vertical (2019) Approximate Revenue Distribution By Vertical 3% 6% 7% 5% 18% 8% 5% 11% 7% 6% 1% 9% 16% 18% 18% 2% 3% 7% 26% 5% 15% 4% Banking & Securities Manufacturing & Natural Resources Banking & Securities Retail Media and Communications Retail Media and Communications Transportation Education Transportation Education Utilities Government Utilities Government Wholesale Trade Healthcare Wholesale Trade Healthcare Insurance Insurance Manufacturing & Natural Resources 6 Source: Gartner, Deloitte Insights
Strategic Acquisitions Drive Further Value 110+ 175+ Deal Flow ADD-ON PLATFORM ACQUISITIONS INVESTMENTS 7
FP Portfolio Companies Global Footprint CANADA Denmark • Waterloo UNITED KINGDOM • Ballerup • Newbury, Berkshire • London SWITZERLAND FRANCE • Marlow SOUTH KOREA • Rolle • Paris • Oxford • Cheongju ISRAEL • Tel Aviv • Petach-Tikva • Jerusalem AUSTRALIA • Melbourne • Sydney • Brisbane 8
FP Portfolio Companies (Continued) WASHINGTON MASSACHUSETTS • Seattle • Boston • Bellevue • Somerville • Woburn OREGON • Watertown • Portland NEW YORK • Hillsboro • Tualatin • New York • Binghamton CALIFORNIA • Irvine NEW JERSEY • Sunnyvale • Blackwood • Santa Clara • Piscataway • San Francisco • Clifton • Chatsworth • Hackensack • Stockton • Campbell MARYLAND • Fremont • Springfield • San Diego • Gaithersburg • Santa Monica • Aliso Viejo VIRGINIA • Glendale • Reston • Menlo Park • San Jose NORTH CAROLINA • Pleasanton • Raleigh • Newport Beach TEXAS MINNESOTA INDIANA SOUTH CAROLINA ARIZONA • Austin • Edina • Greenville • Carmel • Scottsdale • Dallas • Minneapolis • Phoenix FLORIDA MICHIGAN KANSAS WISCONSIN • Tampa • Troy UTAH • Jacksonville • Olathe • Hartford • Palm Beach Gardens • Draper • Wisconsin Rapids OHIO • Waukesha MISSOURI • Columbus GEORGIA COLORADO • Brookfield • St Louis • Atlanta • Denver ALABAMA • Roswell ILLINOIS • Mobile • Chicago • Roselle 9
FP Differentiation DIFFERENTIATED STRATEGY OPERATIONAL FOCUS ATTRACTIVE MARKET TAILWINDS ü Tech is a horizontal, not a vertical ü Deep expertise in discrete subsectors ü FP ability to take on “projects” ü IT disruption impacting every industry ü Invest across Barbell: Value / Growth ü Identify good technology, but poorly ü Platform / consolidation major value driver managed companies ü Buy confusion at discount and sell clarity ü Ubiquitous across economy at premium ü World-class dedicated operating team ü Business models moving from capital ü Partner of choice with Founders, CXOs ü Substantial improvements in Revenue & expenditures to recurring infrastructure and Corporates EBITDA THE FP DNA FOCUS ON PASSIONATE GLOBAL MERITOCRATIC COMPLEXITY OPERATING CONTINUOUS SEASONED PERSPECTIVE & CULTURE ARBITRAGE CAPABILITY IMPROVEMENT COHESIVE TEAM LOCAL PRESENCE SUSTAINED EXCELLENCE IN PERFORMANCE (TOP QUARTILE RETURNS) CONSISTENT DIVERSITY OF MATERIAL LOW BETA WAY IMPROVEMENT BY WINNERS/LOW OUTPERFORMANCE TO PLAY FUND LOSS RATIO AGAINST BENCHMARKS TECHNOLOGY 10
The FP Team Note: Bottom row and 6 photos from the left in the second row from the bottom are of Francisco Partners Consulting (“FPC”) professionals. FPC is owned by its Operating Partners. FPC fees and other compensation are retained by FPC, 11 are not shared with Francisco Partners and do not reduce the management fees paid by the Funds. FPC professionals are not employees of Francisco Partners Management, L.P. and are shown above for reference only.
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