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29 October 2019
INVESTMENT

KKR raises around $2 billion to invest in tech firms

The firm is raising its second fund dedicated to growth-equity investments in technology, media and telecommunications.

BLOOMBERG/JAMES MACDONALD


KKR & Co. has gathered more than $2 billion to invest in fast-growing technology companies as it further expands beyond the mega-deals that made its reputation, reported Bloomberg.

The fund, which is expected to close by year’s end, is about triple the size of the debut vehicle—the KKR Next Generation Technology Growth Fund raised $714 million in 2016.

KKR’s fundraising haul comes as big buyout shops are increasingly targeting start-ups, aiming to bolster returns with faster-growing firms. TPG was one of the first private equity firms to raise an earlier-stage growth fund more than a decade ago, betting on companies such as Airbnb and Uber Technologies.

KKR invested in companies including cybersecurity firm KnowBe4, OneStream Software and Lyft through its first growth fund. David Welsh oversees tech, media and telecom growth equity within KKR’s private equity platform.


RELATED STORIES: KNOWBE4 KKR NEXT GENERATION TECHNOLOGY GROWTH FUND KKR & CO. ONESTREAM SOFTWARE UBER TECHNOLOGIES AIRBNB

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