KKR has raised its next generation growth tech fund at $711 million. NGT will focus on making growth equity investments in the tech, media and telecom sectors in North America, Europe and Israel.
The limited partners of the fund include public and corporate pensions, family offices and high-net worth individual investors.
The fund will make investments less than $100 million in areas such as B2B software/SaaS, internet of things, information technology/automation infrastructure and scalable internet/digital media.
NGT is part of KKR’s TMT private equity platform, which is led by Herald Chen and Richard Sarnoff in the Americas and Philipp Freise in Europe. David Welsh, who joined KKR in October from Adam Street Partners, is leading the TMT growth strategy.
Since 1983, KKR has invested over $18 billion of equity in TMT-related private equity deals as well as over $640 million in NGT-related growth equity investments.
Photo: CEO of Kohlberg Kravis Roberts & Co (KKR) Henry Kravis (C) departs after meeting India’s Prime Minister Narendra Modi at a breakfast in the Manhattan borough of New York September 29, 2014. Reuers/Carlo Allegri