Future fund: KPMG bets on tech

KPMG has stolen a march on its “Big Four” rivals with the launch of what is thought to be the first significant investment fund established by any of the major accountants.

It is understood that KPMG senior partner Simon Collins has authorised an initial $100 million (£74.8 million) to be poured into a fund dedicated to investing in data and analytics businesses.

The plan is that the London-based fund, KPMG Capital, will form partnerships with tech boffins or buy their ideas and start-ups.

Collins said: “I haven’t seen anything else like this, I think it’s the first global fund that has been set up [by one of the big accountants].

“We’re obsessed with technology at the moment and we want to be right on top of technology as it develops.”

KPMG recently signalled its interest in technology when it based a team in East London’s Tech City.