KKR Joins Buyout Crowd With Tech Fund

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KKR Joins Buyout Crowd With Tech Fund

KKR has raised about $688 million for its first Next Generation Technology Growth Fund, including parallel vehicles and contributions from the firm’s affiliates, according to an SEC filing. Outside investors committed just over $449 million to the primary fund. That breakdown jibes with an earlier Fortune report on the vehicle, which indicated KKR would chip in upward of $200 million of its own cash.

KKR

The fund is the latest step in the buyout behemoth’s gradual entry into the tech startup sphere. While the firm has long conducted tech buyouts via its Accel-KKR partnership, an interest in earlier-stage deals is more recent. Within the past year alone, KKR has participated in a $100 million round for cybersecurity startup Cylance, led a $65 million round for another cybersecurity business, Darktrace, and participated in smaller venture rounds for companies like Spirox and Jitterbit.

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