Hello everyone, I realize this may be a dumb question but I just have to know what's Accel-KKR's relationship to KKR? Is it a joint company they made? a merger? former KKR guys wanted to start their own thing?
I tried looking it up but wasn't able to find my answer.
Thank you.
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Literally a quick google search says its a partnership between accel partners and kkr…
First Google result (wiki) actually says it's not anymore :(
The firm was founded in February 2000 as a partnership between the venture capital firm Accel Partners and Kohlberg Kravis Roberts, one of the oldest and largest leveraged buyout firms. Since the mid-2000s, the firm has operated independently of its original backers. Today the firm is run by Co-Managing Partners Tom Barnds and Rob Palumbo with headquarters in the San Francisco Bay Area.
Accel-KKR is no longer affiliated with KKR. Solid shop and team tho.
Accel-KKR was started as a JV between Accel and KKR in the 90's. It was led by George Roberts from the KKR side and Jim Breyer from the Accel side. The back story is KKR wanted to get into internet investing. When the dot com bubble popped, the fund went sideways and KKR and Accel brought in Tom Barnds and Rob Palumbo to salvage a distressed situation - which they did quite well. AKKR became independent, both legally and economically, in 2000. Today it is MM buyout and growth equity. Of course, now KKR has a growth fund and Accel has moved upmarket making the whole situation more confusing.
Wondering why they would keep that branding considering they are no longer affiliated seems silly and a bit misleading.
So you’re saying Bain Capital should change their name now that they’re no longer affiliated with Bain & Co.? Clearly no. You build a brand and reputation over time - once you’ve built that up it’s a waste to throw that away for no material reason.
that's different. bain cap never had a formal economic affiliation w bain & company. believe bill bain was also a partner in the original bain cap.
To OP's point, it does cause confusion in the market place, the same sort of confusion that a lot of PE firms try to avoid. CVC no longer uses "citigroup venture capital" on any marketing materials, same with all the other BB spinouts (court square, metalmark, irving place, one equity, etc). more recently, sixth street changed their name from tpg special sits, sequoia china & india no longer use sequoia, etc.
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