KPMG announced the launching of its USD100 million investment fund called KPMG Capital. The fund would focus on big data analytics companies, according to a report published by Tech City News.
KPMG's newly launched fund would be based in London. It is the first investment fund formed by the Big Four group of accounting firms, the report said.
The said fund would be used to build the UK's base in innovation and technology. KPMG Capital would provide data and analytics startups with access to growth capital and networks to help them expand. The company said the fund would invest globally but would be closed to third party investment. KPMG Capital is separate from the KPMG International Group, the report explained.
KPMG Capital would be headed by Mark Toon, EquaTerra's founder and former chief executive. EquaTerra is an IT advisory company that was purchased by KPMG in February 2011, Tech City News reported.
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