KKR, a Menlo Park, Calif. & London, UK-based global investment firm, closed a new $711m fund.
KKR Next Generation Technology Growth Fund, which received backing from a diverse group of new and existing global investors, including public and corporate pensions, family offices and high net worth individual investors, is dedicated to growth equity investment opportunities in market-leading, high-growth companies in the technology, media and telecommunications (TMT) space in North America, Europe and Israel.
The fund is expected to make equity investments amounting to less than $100m and focused on the following themes:
– Business to Business Software /Software-as-a-Service,
– Information Technology Automation/ Infrastructure,
– Scalable Internet /Digital Media, and
– the Internet of Things.
The new vehicle is part of KKR’s TMT private equity platform which is led by Herald Chen and Richard Sarnoff in the Americas and Philipp Freise in Europe. Leading the TMT Growth strategy is KKR new-hire David Welsh, a veteran in the TMT growth equity space who joined the Firm in October from Adam Street Partners, where he was a Partner on the growth equity and venture capital teams focusing on enterprise technology.