Private equity firm KKR just raised $2.2 billion to invest in fast-growing tech companies and it will now hunt for deals in regions far beyond Silicon Valley.
Dave Welsh, a KKR exec leading its technology media and telecom growth equity unit, said that it would seek investments in areas such as Florida, the greater Washington, D.C., area and Atlanta, as well as the Rocky Mountain region in Colorado and other regions throughout the Midwest.
The willingness to go far and wide points to how competition for the best investments across the private equity spectrum is getting stiffer, and more PE firms are getting creative with how they deploy their capital — seeking smaller, including minority, investments.
Just last year, Blackstone recruited one of the top executives at the growth equity firm General Atlantic, to launch a new fund for the firm, called Blackstone Growth Equity. There, Jon Korngold is raising a fund with hopes of raising as much as $4 billion.
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One might expect a private-equity firm that just raised billions of dollars to invest in fast-growing technology companies to focus on the highest-profile tech hubs for prospective targets.
Silicon Valley and Boston, for …read more
Source:: Businessinsider – Finance