Accel-KKR, a private equity firm specializing in technology-focused buyouts, has announced the successful raising of $5.3 billion in two new buyout funds. The funds, Accel-KKR Capital Partners V and Accel-KKR Growth Capital Partners IV, will be used to invest in high-growth technology companies across North America and Europe.
The fundraising effort was oversubscribed, with demand exceeding the initial target of $4 billion. This reflects the strong investor appetite for technology-focused investments, particularly in the wake of the COVID-19 pandemic, which has accelerated the adoption of digital technologies across many industries.
Accel-KKR has a proven track record of investing in successful technology companies, having completed over 200 transactions since its inception in 2000. Its portfolio includes companies such as Infinisource Benefit Services, a provider of employee benefits administration software, and HighJump Software, a supply chain management software company.
The firm’s investment strategy focuses on partnering with management teams to help drive growth and operational improvements in portfolio companies. This approach has resulted in numerous successful exits, including the sale of software company Jaggaer to private equity firm Cinven for $1.5 billion in 2019.
The new funds will enable Accel-KKR to continue its investment strategy and pursue new opportunities in the technology sector. The firm is particularly interested in companies that offer software-as-a-service (SaaS) solutions, as well as those that provide technology-enabled services in areas such as healthcare, financial services, and e-commerce.
In a statement announcing the fundraising success, Accel-KKR co-founders Tom Barnds and Rob Palumbo said: “We are grateful for the continued support of our investors and excited to have raised these new funds to continue our mission of partnering with exceptional management teams to build great companies.”
The fundraising success of Accel-KKR is further evidence of the strong investor appetite for technology-focused investments. With the COVID-19 pandemic accelerating the adoption of digital technologies across many industries, firms like Accel-KKR are well-positioned to capitalize on the opportunities presented by this trend.
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