Accel-KKRAccel-KKR, which has done some significant investing in the ERP space, has completed fundraising for Accel‐KKR Structured Capital Partners II with $325 million in committed capital. There's a good reason that people in the financial software space should care. It was an Accel-KKR fund that acquired Sage Nonprofit Solutions to form Abila and made an investment in Swiftpage to fuel its acquisition of Act and SalesLogix.

 And one of these funds last year also invested in On Center Software, which makes estimating and project management software. In 2012, one fund made a majority investment in Accellos. This is the kind of investment philosophy that can take products that have been neglected and give them new life that makes the firm's actions something to keep an eye on. The impact goes beyond simply buying and investing in firms as the capital helps the Accel-KKR portfolio companies bulk up. That includes the Swiftpage deal, Abila's acquisition of Avectra and Accellos' purchase in 2013 of Profit Systems. The firm said the new fund continues its focus on making minority equity investments in growing technology companies via senior equity and other structured securities. It is also investing from its buyout fund, Accel‐KKR Capital Partners IV, a fund with more than $800 million in capital commitments. Other funds are moving in the same direction. The most recent sale of a somewhat neglected product was this year when BDO Seidman sold its JobOps manufacturing software to Anania & Associates. Maybe we should call these private equity efforts, "Second Life Funds" because in many cases that is what they offer the acquired products and companies.

Last modified on Friday, 11 April 2014
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