Accel-KKR Closes on $2.2B Software Industry Secondary Fund

Accel-KKR raised over $2.2B in capital commitments for its first strategic capital fund to target secondary investments in the software and technology industry.

The AKKR Strategic Capital Fund drew support from a diverse group of investors led by Ardian, and including StepStone Group, Adams Street Partners, and CPP Investments. Foundations, university endowments, nonprofit organizations, and pension funds also committed the fund. Per Dakota data, the Texas County & District Retirement System allocated $72.5M. Commitments from GPs and affiliates accounted for approximately 24% of the total raised capital.

Accel-KKR said it has made investments in over 450 tech portfolio companies through 18 fundraisers across its buyout, emerging buyout, growth capital, credit, and strategic capital fund series. To date, the Menlo Park, CA-based private equity firm manages a total of $21B in capital commitments.

Source: https://www.prnewswire.com/news-releases/accel-kkr-raises-first-strategic-capital-fund-closing-on-over-2-2-billion-for-secondary-investments-in-the-software-market-302312917.html