KPMG launches $100m investment fund

Global auditor will back data analytics businesses

Global auditing specialist KPMG today announced the launch of an $100m investment fund, set to back businesses in the data and analytics sectors.

The fund, which is headquarted in London but will invest globally, will invest primarily through technology partnerships with and acquisitions of tech firms.

It is aimed at increasing KPMG’s competence in the fast-growing data and analytics industry in order to offer technology solutions to its clients.

KPMG said the fund will invest particularly in those data companies working in the healthcare, financial services, energy and telecommunications industries.

Investments will focus on a number of ‘critical business areas’ including enhancing business flexibility, finance, regulation and compliance, improving workforce productivity and customer and revenue growth.

Simon Collins, UK chairman of KPMG, said: “We were quick to support Tech City with a permanent base, and we’re going to stay ahead in delivering the extraordinary potential of data and analytics to our clients.

“Technology isn’t following the old rules – innovation is happening in universities, in small informal businesses and through curious individuals.

“For a major company to harness this we have to be more agile – co-investing, sponsoring and partnering at early stages and encouraging technology entrepreneurs to be bold.

“KPMG Capital gives us the dedicated funding and flexibility to do this. Combine this with our global reach and knowledge and we will become the go to business partner in technology.”

The announcement followed the release of KPMG’s Tech Monitor report last month, which mapped the UK tech sector according to local authority clusters and tracked job creation and economic growth.

Local authorities close to major motorways in the South East – the M4, M3 and M25 – were revealed to have the highest prevalence of tech workers.

Regionally, Cambridge in the East, Telford in the West Midlands, Tewkesbury in the South West, Gateshead in the North East, South Kesteven in the East Midlands, Stockport and Halton in the North West, Brigend in Wales, Harrogate in Yorkshire, and West Lothian in Scotland, all led the way.

Richmond upon Thames emerged as having the highest concentration of tech employment of all London boroughs.

Tech City, which straddles the boroughs of Hackney and Islington, did not feature in the top 10 due to the large local economies which feature major multi-national corporations in financial services,

advertising and market research. Nevertheless, the report acknowledged the area employs many thousands in the tech sector.

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