Next Generation Technology Growth Fund II Closes at $2.2 Billion

January 21, 2020 | Investments, News, Private Equity
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New fund targets tech space

The KKR Next Generation Technology Growth Fund II has closed. KKR announced a $2.2 billion fund dedicated to growth equity investment opportunities. The fund will focus on technology space in North America, Europe, and Israel.

The fund seeks investments outside the major technology centers such as Silicon Valley and Boston.

Next Generation Technology Growth Fund II Strategy

NGT II will likely make equity investments greater than $50 million in thematically targeted areas. These targets include enterprise software, security, internet, and digital media, fintech, and tech-enabled and data services.

Dave Welsh, KKR Partner and Head of Technology Growth Equity discussed the fund in a statement.

“When we initially set out to create a dedicated technology growth equity strategy over five years ago, we did so believing we could provide a truly differentiated approach to the market by leveraging the broader KKR platform and resources,” he said. “Looking back on the businesses we’ve helped scale since and the strong returns we’ve delivered for our investors while doing so, we’re proud to continue to build on this momentum with NGT II. We look forward to investing behind the many more opportunities we see ahead to partner with best-in-class businesses in the technology growth sector.”

KKR has built a strong track record investing in high growth technology firms. Since 2014, they have invested over $2.7 billion in technology-related investments.

KKR will invest $263 million of its own capital in the deal alongside other institutional investors.

 

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