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KKR, a prominent global investment firm, has successfully finalized the closing of its KKR Next Generation Technology Growth Fund III (NGT III). This fund, amassing close to $3 billion, is dedicated to investments in burgeoning technology companies spanning North America, Europe, and Israel.
Deepening Commitment to Digital Transformation
The launch of NGT III underscores KKR’s intensified dedication to investing in pioneering companies that are at the forefront of the digital transformation wave. These companies are instrumental in enhancing business operations and elevating the customer experience, all while ensuring heightened security. Dave Welsh, KKR Partner & Global Head of Tech Growth, emphasized the firm’s commitment, stating “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 Digital Evolution and Market Potential
The inception of this new fund coincides with a period of rapid digital transformation across global enterprises. This era is marked by the advanced evolution of AI applications and a surge in the integration of technology into daily consumer life. Such a landscape is fertile ground for the birth and expansion of numerous growth technology firms.
KKR’s Proven Track Record in Tech Growth
KKR’s rich history in supporting tech-centric growth companies is evident. Since 2014, the firm has poured over $21.6 billion into related investments. With a dedicated global team comprising over 35 investment professionals possessing profound tech growth equity expertise, KKR has been involved in several transactions, including partnerships with DarkTrace, KnowBe4, 09, Onestream, OutSystems, NetSPI, and Restaurant365.
Investor Diversity and KKR’s Investment
The NGT III fund witnessed robust backing from a varied group of global investors. This includes public pension plans, sovereign wealth funds, insurance companies, financial institutions, endowments, fintech platforms, family offices, and affluent individual investors. Notably, KKR itself will be channeling approximately $435 million of capital into the fund, in conjunction with its affiliates, employee commitments, and from the firm’s balance sheet.
A leading figure in the global investment arena, KKR offers alternative asset management, capital markets, and insurance solutions. The firm’s primary objective is to yield attractive investment returns through a disciplined and patient investment approach, backed by a team of world-class professionals. KKR’s investment endeavors encompass private equity, credit, real assets, and its insurance subsidiaries provide an array of products managed by the Global Atlantic Financial Group.
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