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Accel-KKR Pursues Small Business Software Acquisitions, Investments and More

Accel-KKR‘s Emerging Buyout Partners LP fund has raised $640 million to invest in or acquire software and tech-enabled services companies, with a specific focus on small-cap companies, the private equity firm says. The new fund is led by Phil Cunningham, formerly CEO of Advicent Solutions, a provider of SaaS technology solutions for the financial services industry.

The fund already includes three “platform” companies.

  1. Blue Mountain Quality Resources, which offers enterprise asset management solutions in the life sciences vertical;
  2. Cloud9 Software, which develops cloud-based practice management and clinical care software for orthodontic and pediatric dentistry practices; and
  3. InSight Mobile Data & Rhino Fleeting Tracking, which is a a merger of two complementary businesses that provide fleet management software solutions for the SMB field services industry.

As “platform” companies within the private equity fund, it’s a safe bet each one of those firms will be making tuck-in acquisitions.

Accel-KKR’s New Fund: Executive Insights

In a prepared statement about the fund, Accel-KKR Managing Partner Tom Barnds said:

“We are excited to welcome a number of new investors to Accel-KKR through this new fund, as well as extend and expand our relationship with many of our long-standing limited partners. We are proud to have such a great group of mission-driven LPs representing leading academic institutions, medical research foundations, health care institutions, and corporate and government pensions.”

Added Accel-KKR Managing Partner Rob Palumbo:

 “Despite the less-than-ideal conditions imposed by the pandemic, we completed a very efficient, successful fundraise almost completely during the lockdown. We now look forward to putting this capital to work and leveraging our software investing experience to help the next cohort of software companies and founders succeed.”

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