KPMG has announced their new investment fund, focussing on data and analytics companies.
Headquartered in London
The $100m fund will be known as KPMG Capital, and will be headquartered in London. It’s believed to be the first investment fund launched from the big 4 group of accounting firms.
Commenting on the launch, Tim Kay, Technology Start-Up Evangelist at KPMG High Growth Technology Group said:
“For the UK to become a centre of innovation and technology excellence we need to make sure companies have access to the relevant capital and networks to allow them to grow.
The fund is designed to address these points by providing growth capital to data and analytics companies and the opportunity to integrate into KPMG’s solutions and global client base”
Global investment focus
KPMG say the fund will invest globally, and aims to identify, innovate and accelerate the rapid delivery of data and analytics offerings to their clients in areas including risk management and cost optimisation.
The fund will not be open to third party investment and is separate from the rest of the KPMG International Group.
Mark Toon, founder and former chief executive of EquaTerra, an IT advisory firm acquired by KPMG in February 2011 will head up the fund. Mr Toon is also global lead for KPMG’s data and analytics practice.