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KKR Raises More Than $2 Billion to Buy Fast-Growing Tech Firms

  • Second fund is about triple the size of firm’s first vehicle
  • Large private equity firms are increasingly targeting startups

KKR & Co. has gathered more than $2 billion to invest in fast-growing technology companies as it further expands beyond the mega-deals that made its reputation.

The firm is raising its second fund dedicated to growth-equity investments in technology, media and telecommunications, according to a person familiar with the matter. The fund, which is expected to close by year’s end, is about triple the size of the debut vehicle: the KKR Next Generation Technology Growth Fund raised $714 million in 2016.