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In an exclusive interaction with TechCrunchKKR, a leading global investment firm, announced the closing of its third technology growth fund.

  • State of the Fund: KKR Next Generation Technology Growth Fund III has amassed approximately $3B in capital commitments, with KKR’s own employees contributing $400M.
  • Financial Backers: The fund counts on a team comprising over 35 investors targeting growth-stage companies in North America, Europe, and Israel, alongside a dozen others focusing on the APAC region. KKR launched the fund early last year.
  • Previous Tech Funds: The first tech growth fund, valued at $711M, has already returned more to its investors than the capital they committed. Likewise, the second fund, a $2.2B initiative launched in 2019, shows a net IRR of approximately 18%.
  • Investment Portfolio: KKR’s previous tech investments include cybersecurity firm Darktrace, digital-identity software provider ForgeRock, and ridesharing service Lyft — all of which went public between 2019 and 2021.
  • Investee IPO: One of their ongoing investments, OneStream, a software tools and services provider for CFOs, is currently preparing for a stock market launch under Morgan Stanley’s guidance.
  • Investment Targets: The group targets companies with strong long-term growth prospects, offering a typical investment check ranging from $50M to $250M.

KKR’s tech growth practice has so far raised just under $6B from backers with 70% of its capital going to software companies, notably in the cybersecurity sector. Other investments have been classified under “internet”.

Other notable investments include big data analytics company Optimal+, tour-booking platform GetYourGuide, and cloud integration software company Jitterbit.

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