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Accel-KKR Closes on $5.3 Billion in New Capital Commitments

Technology-focused private equity firm Accel-KKR has completed fundraising for two funds, closing on $5.3 billion of new capital commitments, the company announced in late March.

The General Partner of Accel-KKR represents the largest investor in both funds, Accel-KKR Capital Partners VII LP and Accel-KKR Emerging Buyout Partners II LP.

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Accel-KKR invests in tech companies through funds and strategies including buyout, emerging buyout, and growth capital and credit. It has $19 billion in cumulative capital commitments and has had successful closes for four new funds in 14 months, representing more than $8.4 billion in committed capital.

Fund VII included $300 million from the General Partner and affiliates and will make majority buyout investments in lower-middle market and middle-market software and IT-enabled services companies well-positioned for top-line and bottom-line growth.

Emerging Buyout II includes $72 million from the General Partner and affiliates and will invest in software and tech-enabled service companies, with a special focus on small-cap companies.

Accel-KKR’s investor base includes government employee pension plans, medical research institutes, college endowments, charitable foundations, and integrated health delivery networks. The new funds had strong re-up rates from existing investors and received support from new investors.