KKR registers new tech growth fund

KKR filed a registration document for the vehicle with Luxembourg's Registre de Commerce et des Sociétés on 9 August; the fund was incorporated on 28 July.

KKR had not returned a request for comment at the time of publication.

Launched in November 2018, NGT II closed on USD 2.2bn in January 2020, exceeding its USD 1.5bn target. It is dedicated to growth equity investment opportunities in the technology space in North America, Europe and Israel.  

The fund invests in both majority and minority stakes, and targets companies with enterprise values of USD 30m-300m, operating in a wide range of tech sectors, including enterprise software, security, internet, digital media, fintech and data services. It deploys equity tickets in the USD 50m-150m range.

The vehicle was more than three times larger than its predecessor, NGT I, which closed on USD 711m in December 2016.

KKR is also gearing up for the launch of its sixth European upper-mid-market vehicle, KKR European Fund VI, having filed the new vehicle in May, as reported. The GP held a final close for KKR European Fund V in November 2019 on EUR 5.8bn, surpassing its EUR 5bn target.

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