francisco partners management lp said tuesday it has 23 billion to invest in the technology sector including 17 billion for two new private equity funds and 6 billion in dry powder remaining in previous funds the san francisco firm raised 135 billion for its flagship fund francisco partners vii lp and 33 billion for francisco partners agility iii lp the firm said the funds were oversubscribed and beat their respective targets the recent slowdown and correction in valuations are a normal part of the technology cycle and we believe it creates interesting opportunities for us to partner with companies navigating their course said dipanjan dj deb cofounder and ceo of francisco partners