KPMG has launched a new multi-million pound investment fund to speed up innovation in data and analytics companies.
KPMG Capital will be based in London and fund companies to the tune of $100 million [£62.7 million] in an attempt to fund both partnerships as well as acquisitions.
“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,” Tim Kay, technology startup evangelist at KPMG High Growth Technology Group told Tech City News.
The fund will look to invest on a worldwide basis and help its clients to unlock the “tangible value of their big data”. It will invest money in a number of business areas including enhancing business flexibility, finance, regulation and compliance, improving workforce productivity, as wellas customer and revenue growth.
KPMG state that it will help companies to identify, innovate and accelerate the delivery of data and analytics offerings to clients across various areas, helping find new revenue streams, improve risk management, and better cost optimisation.
It will be separate from the rest of the KPMG International Group and isn’t open to any third party investment with the fund headed up by Mark Toon who also has responsibility as the global lead for KPMG’s data and analytics practice.
"Too many companies still see big data principally as a technology issue, when it really is a business issue across all industries. We're helping companies look at their data differently and turn it into value," Toon added.
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