London: Big Four professional services group KPMG today announced the formation of KPMG Capital, a new wholly owned global investment fund that will invest primarily in data and analytics businesses via strategic acquisitions and technology partnerships.
KPMG says the fund — headquartered in London but investing globally — aims to identify, innovate and accelerate the rapid delivery of data and analytics offerings to clients in areas such as risk management and cost optimisation as well as enabling them to tap into new revenue streams.
Simon Collins, UK Chairman of KPMG, said, "Technology is the beacon for UK economic recovery — job creation outpacing average private sector growth fourfold*. 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."
Mark Toon, CEO of KPMG Capital and global lead for KPMG's Data & Analytics practice, said, "With more data produced and stored in the last two years than in the rest of human history, many businesses are looking for strategic and practical solutions to manage the volume, velocity and variety of this data revolution. KPMG Capital will enable us to develop or acquire opportunities in data and analytics quickly. Through partnerships with technology and service providers, strategic partners and other third parties, we aim to accelerate innovation in data and analytics to bring potential solutions to clients — and to the market — faster."
The fund will invest in a number of critical business areas including enhancing business flexibility; finance; risk, regulation and compliance; improving workforce productivity; and customer and revenue growth. KPMG Capital will work to develop technology solutions that will focus on growth sectors such as healthcare, financial services, energy and telecommunications.
The group stresses that KPMG Capital is an investment fund which is not open to third party investment, and which will not itself provide professional services to clients. It is legally distinct and separate from KPMG International Cooperative and each other KPMG member firm.