KPMG Launch KPMG Capital
KPMG assert position in big data market with launch of new $100 million global investment fund KPMG Capital.
KPMG has announced the formation of their first global investment fund, KPMG Capital. The fund, believed to be worth $100 million with a top-up option available, will invest primarily in big data, data innovation and data analytics capabilities.
The Growth of Big Data
The launch is significant, highlighting the ever increasing role of technology, and the ever growing amount of data that technology can produce. KPMG Capital explains that companies are now under increasing pressure to harness all that data, analyse the data, and turn it into meaningful insights and solutions; all more quickly than their competitors. But whilst 69% of global business leaders see data and analytics as strategically important, 96% of them aren’t using them effectively. Which data do you choose? Which questions do you ask?
This first significant fund established by any of the big accountancy firms aims to help answer just those questions. Initially focusing on strategic acquisitions and partnerships with technology and service providers, they aim to bring innovative solutions to their clients as quickly as possible. By investing in things that will also better serve their clients, they hope to help their clients increase market share, improve competitive positioning, create new revenue streams, reduce costs and manage risks.
KPMG Capital will focus on developing technology solutions for growing industry sectors such as healthcare, financial services, energy and telecoms. Specific critical business areas will be: enhancing business flexibility; finance; risk, regulation and compliance; improving workforce productivity; and customer and revenue growth. This could be anything from finding solutions to improve supply chain management or invoicing processes, to linking clients with the latest and most efficient computer software.
The Go-To Business Partner in Technology
Perhaps the launch shouldn’t come as a surprise; KPMG previously signalled their tech interest earlier last year when it based a team in east London’s ‘Tech City’. London’s hopeful rival to Silicon Valley is also home to technology giants Google, Vodafone and Facebook.
Simon Collins, UK Chairman of KPMG, said: “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.”