KKR, a NYC-based global investment firm, closed KKR Next Generation Technology Growth Fund III, at approximately $3 billion.
The fund received support from a diverse group of both new and existing investors globally, including public pension plans, sovereign wealth funds, insurance companies, financial institutions, endowments, private wealth and fintech platforms, family offices and high-net-worth individual investors. KKR will be investing approximately $435m of capital in the vehicle alongside investors through the firm’s balance sheet, affiliates and employee commitments.
The fund is focused on investing in growth technology companies across North America, Europe and Israel providing equity capital and access to the firm’s global capabilities and network.
KKR has established a proven track record of supporting technology-focused growth companies, having invested over $21.6 billion in related investments since 2014 and built a dedicated global team of more than 35 investment professionals with deep technology growth equity expertise. The Firm has executed several transactions as part of its tech growth strategy, including DarkTrace, KnowBe4, 09, Onestream, OutSystems, NetSPI and Restaurant365.
Commenting on the close of the fund, Dave Welsh, KKR Partner & Global Head of Tech Growth, said: “Even in challenging market environments, focusing on investing in technology that solves for the real needs of companies creates a long-term opportunity for performance. We’ve seen firsthand that innovation is a critical driver of investment returns. With the new fund, we are deepening our commitment to investing in leading companies that are advancing digital transformation by helping businesses operate and serve their customers better, and more securely.“
The investment team is also led by:
- Jake Heller, Partner & Head of Tech Growth, Americas, and
- Stephen Shanley, Partner & Head of Tech Growth, Europe.