Accel-KKR Raises $1.35bn for Fourth Growth Capital Fund

Accel-KKR, a leading technology-focused private equity firm, announced today the successful completion of Accel-KKR Growth Capital IV Partners L.P., a $1.35bn growth capital fund.

The new fund includes a $100 million commitment from the firm’s employees. Accel-KKR invests in technology companies through a series of different funds and strategies including Buyout, Emerging Buyout, Growth Capital and Credit.

Accel-KKR Growth Capital Partners IV will focus on the same strategy as the firm’s prior growth capital funds, primarily making minority preferred equity investments in software and technology-enabled services companies with more than $10 million in revenue. It also will continue to emphasize investing in founder-led and closely-held businesses, which results in Accel-KKR oftentimes becoming the first institutional investor into these companies.

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Accel-KKR Growth Capital Partners III LP, the firm’s previous growth-capital fund, closed on $685 million in capital commitments in 2019.

The firm simultaneously announced that David Cusimano and Joe Porten, both members of Accel-KKR’s Growth Capital team, have been promoted to Managing Director. Mr. Cusimano joined Accel-KKR upon graduation from business school in 2009, and Mr. Porten joined Accel-KKR in 2013 with many years of experience in technology private equity.

Greg Williams, a Managing Director at Accel-KKR who has led the firm’s growth capital investments since joining the firm in 2009, said, “We are thrilled with the support our new growth capital fund received from existing and new investors. We look forward to helping the companies in which we invest achieve their objectives by bringing a combination of operating and financial resources to bear to support their growth strategies.”

Commenting on the fund closing, Tom Barnds and Rob Palumbo, Co-Managing Partners at Accel-KKR, said, “We appreciate the continued strong support from our limited partners and the causes they represent, and wholeheartedly congratulate David and Joe on their well-deserved promotions to Managing Director.”

In January 2022, Accel-KKR was named the top-performing private equity firm out of a field of 517 firms globally in the HEC – DowJones Private Equity Performance Ranking of aggregate performance, based on all buyout funds raised between 2008 and 2017.

Source: Yahoo Finance

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