KKR holds $687m first close for tech growth fund

NGTGF is the GP's first vehicle dedicated to growth investments in the technology, media and telecommunications sector, and was launched in March this year. Cleary Gottlieb provided legal advice on fund formation.

This fundraise follows CVC Capital Partners' Growth Partners fund, which targets similar growth equity tickets in high-growth businesses, and closed on $1bn earlier in 2016.

Investors
Investors in the fund include the Bank of Singapore, as well as funds-of-funds.

Investments
The fund aims to provide growth equity to companies beyond the startup phase.

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• Topics
• Funds
• Venture
• KKR
• Venture
• Late stage funding