Accel-KKR, a leading technology-focused private equity firm, announced today the successful completion of Accel-KKR Growth Capital IV Partners L.P., a $1.35 billion growth capital fund. The new fund includes a $100 million commitment from the firm’s employees. Accel-KKR invests in technology companies through a series of different funds and strategies including Buyout, Emerging Buyout, Growth Capital and Credit.

Accel-KKR Growth Capital Partners IV will focus on the same strategy as the firm’s prior growth capital funds, primarily making minority preferred equity investments in software and technology-enabled services companies with more than $10 million in revenue. It also will continue to emphasize investing in founder-led and closely-held businesses, which results in Accel-KKR oftentimes becoming the first institutional investor into these companies.

Accel-KKR Growth Capital Partners III LP, the firm’s previous growth-capital fund, closed on $685 million in capital commitments in 2019.

Read more: Yahoo Finance