KKR, a global investment firm that manages multiple alternative asset classes, announced on Wednesday it has officially closed its $2.2 billion KKR Next Generation Technology Growth Fund II. The Fund is notably dedicated to growth equity investment opportunities in the technology space in North America, Europe, and Israel.
“NGT II is the successor fund to KKR Next Generation Technology Growth Fund, KKR’s first dedicated global technology growth equity vehicle which completed fundraising in December 2016. Similar to its predecessor fund, NGT II is focused on generating strong returns for investors by investing in market-leading, high-growth technology companies through a combination of majority or minority stakes. In particular, NGT II is expected to make equity checks typically greater than $50 million in thematically targeted areas, including enterprise software, security, internet/digital media, fintech, and tech-enabled and data services.”
Speaking about the Fund, Dave Welsh, KKR Partner and Head of Technology Growth Equity, stated:
“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. 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 added it has established a strong track record of supporting technology-focused growth companies, having invested over $2.7 billion in related investments since 2014 and having built a dedicated global team of 19 investment professionals with deep technology growth equity expertise.