Latest news with #CharlesPhillips
Entrepreneur
3 days ago
- Business
- Entrepreneur
Recognize Closes USD 1.7 Bn Fund to Accelerate Growth of Digital Services Firms
In the past six months, Recognize has made four major investments: SDG Corporation (cybersecurity), Sprout (digital infrastructure), TRANZACT (insurance services), and HealthEdge (SaaS for healthcare payers). You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Recognize, a leading investor and builder of next-generation Digital Services companies, has announced the successful final close of its second fund, Recognize Partners II/II-A, L.P. ("Recognize II"), securing over USD 1.7 billion in commitments. The fund, which closed in under five months, was oversubscribed and hit its hard cap, demonstrating strong demand from both existing limited partners (LPs) and new blue-chip investors. Founded by industry veterans Francisco D'Souza, Charles Phillips, and David Wasserman, Recognize has rapidly positioned itself as a trusted partner for innovative digital companies. The firm focuses on high-growth businesses that use AI, software, and digital platforms to deliver transformative outcomes for enterprises. Recognize II will continue the firm's strategy of investing in companies with enterprise values between USD 50 million and USD 500 million. The firm emphasises a hands-on, partnership-driven approach to value creation, aiming to help businesses scale efficiently and strategically. The new fund attracted participation from a global base of institutional investors, including endowments, foundations, pensions, insurers, and family offices across North America, Europe, Asia, and Latin America. Recognize itself also made a significant general partner (GP) commitment to the fund. In the past six months, Recognize has made four major investments: SDG Corporation (cybersecurity), Sprout (digital infrastructure), TRANZACT (insurance services), and HealthEdge (SaaS for healthcare payers). The firm also executed notable exits, including the sale of AST to IBM, a partial exit of 2X through a strategic investment by Insight Partners, and the sale of Torc, an AI-powered talent platform, to a subsidiary of Randstad. "We are incredibly grateful for the continued support of our partners," said Debbie Park Munfa, Partner and Head of Investor Relations at Recognize. "We remain focused on building Digital Services businesses for the future and partnering with excellent management teams to deliver long-term value for our investors." Recognize was advised by Rede Partners Americas LLC, with Goodwin Procter LLP serving as legal and tax counsel.
New Indian Express
3 days ago
- Business
- New Indian Express
Recognize partners fund II closes at $1.7 billion
BENGALURU: Technology investment firm Recognize on Monday announced the final close of its second fund- Recognize Partners II/II-A with over $1.7 billion in total commitments. With Recognize II, the firm continues to focus on investing in companies with enterprise values between approximately $50 million and $500 million. Co-founded by Managing Partners Francisco D'Souza, Charles Phillips, and David Wasserman, Recognize has established itself as a notable investor-operator. In January this year, the private equity firm Recognize made a majority investment in IT asset disposition (ITAD) provider Sprout. Recognize II was oversubscribed and closed less than five months from launch. The LP (Limited Partners) base includes global institutions such as endowments, foundations, pensions, insurers, family offices, outsourced CIOs and fund-of-funds across the US, Europe, Asia, and Latin America.
The Hindu
3 days ago
- Business
- The Hindu
Private Equity firm Recognize closes its second fund with a commitment of $1.7 billion
Recognize, a New York-based Private Equity (PE) firm which invests in next-generation digital services companies, has on Friday (June 27, 2025) announced the closure of its second fund, Recognize II, with over $1.7 billion in total commitments. Co-founded by Managing Partners Francisco D'Souza (also co-founder and former CEO and Vice Chairman of Cognizant Technologies), Charles Phillips, and David Wasserman, Recognize had raised $1.3 billion in January 2022 under its first fund. With Recognize II, the firm would continue to focus on investing in companies with enterprise values between approximately $50 million and $500 million – businesses that Recognize believes offer strong potential for accelerated growth with the support of Recognize's partnership-driven value creation approach, the PE firm said. Recognize II was oversubscribed and closed less than five months from launch, with strong support from existing investors, including a significant GP commitment, and a curated group of new investors, it claimed. The LP base included leading global institutions, such as endowments, foundations, pensions, insurers, family offices, outsourced CIOs, and fund-of-funds, across the U.S., Europe, Asia, and Latin America, it added. Over the last six months, Recognize has made four new platform investments: SDG Corporation (cybersecurity services), Sprout (Digital Infrastructure Services), TRANZACT (insurance services), and HealthEdge (SaaS for healthcare payers). The firm also completed two realisation events earlier this year: the exit of AST, sold to IBM, and a partial exit of 2X through a strategic investment by Insight Partners. In 2024, Recognize also sold Torc, an AI-powered talent platform, to a subsidiary of Randstad. These realisations, the firm said, further reinforced its thesis that next-generation Digital Services firms were increasingly attractive to strategic buyers. 'We are incredibly grateful for the continued support of our partners,' said Debbie Park Munfa, Partner and Head of Investor Relations at Recognize. 'We remain focused on building Digital Services businesses for the future and partnering with excellent management teams to deliver long-term value for our investors.'
