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Alternative Assets  + Private Equity  |  October 24, 2023
KKR Closes 3rd Tech Growth Fund at Nearly $3B
Joe Palmisano
By: Joe Palmisano

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 of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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