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KKR Closes 3rd Tech Growth Fund at Nearly $3B

KKR Closes 3rd Tech Growth Fund at Nearly $3B

KKR, a global private investment giant, raised approximately $3 billion for its third technology growth fund, KKR Next Generation Technology Growth Fund III (NGT III) that invests in technology companies across North America, Europe and Israel.

The firm will be investing approximately $435 million of capital in the fund alongside investors through its balance sheet, affiliates and employee commitments.

NGT III will continue the strategy of preceding NGT I and NGT II growth funds in providing equity capital to high-growth tech companies.

“Even in challenging market environments, focusing on investing in technology that solves for the real needs of companies creates a long-term opportunity for performance. We’ve seen firsthand that innovation is a critical driver of investment returns,” said Dave Welsh, KKR partner & global head of tech growth.

Since 2014, KKR has invested more than $21.6 billion in related investments. To date, KKR has executed several transactions as part of its tech growth strategy, including DarkTrace, KnowBe4, Onestream, OutSystems, NetSPI and Restaurant365.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.