Lower mid-market private equity firm Rubicon Technology Partners has reportedly hired a placement agent to help raise a new fund.
The firm, which is led by former Blackstone executive John Hodge, is seeking $250m for its debut fund, said the Buyouts magazine, citing sources familiar with Rubicon.
Rubicon is focused on investing in lower mid-market enterprise software and technology-enables services companies with revenues of between $10m and $150m.
The firm makes control equity investments of between $20m and $50m.
Similar-sized funds currently in the market include a mid-market vehicle managed by Aterian Investment Partners.
In November last year AltAssets reported that UBS Securities was acting as a placement agent for the fund, which had not at that time registered any commitments.
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