Accel-KKR Closes Fourth Growth Capital Fund, at $1.35 Billion


Accel-KKR, a Menlo Park, CA-based technology-focused private equity firm, closed Accel-KKR Growth Capital Partners IV L.P., a $1.35 billion growth capital fund. 

The new fund includes a $100m commitment from the firm’s employees. 

Accel-KKR invests in technology companies through a series of different funds and strategies including Buyout, Emerging Buyout, Growth Capital and Credit. 

The new fund will focus on the same strategy as the firm’s prior growth capital funds, primarily making minority preferred equity investments in software and technology-enabled services companies with more than $10m in revenue. It also will continue to emphasize investing in founder-led and closely-held businesses, which results in Accel-KKR oftentimes becoming the first institutional investor into these companies.

Accel-KKR Growth Capital Partners III LP, the firm’s previous growth-capital fund, closed on $685 million in capital commitments in 2019.

The firm simultaneously announced that David Cusimano and Joe Porten, both members of the firm’s Growth Capital team, have been promoted to Managing Director.  Mr. Cusimano joined the firm upon graduation from business school in 2009, and Mr. Porten joined Accel-KKR in 2013 with many years of experience in technology private equity.

The firm – which also has offices in Atlanta and London, UK – is led by Tom Barnds and Rob Palumbo, Co-Managing Partners. Greg Williams leads the firm’s growth capital investments.