Professional services giant KPMG has launched a data analytics investment fund thought to be worth around $100m.
The new fund, called KPMG Capital, will be based in London but will be looking for companies boasting data analytics innovation worldwide. Investments will be made through strategic acquisitions and technology partnerships. The company says it is looking to invest in data analytics offerings in areas such as risk management, customer growth and productivity.
Mark Toon, chief executive of KPMG Capital, said the scheme was a natural progression as the firm looks to serve its clients with more data analytics services as demand ramps up.
"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."
Simon Collins, KPMG's UK chairman, added: "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," he said.
Businesses large and small are all grappling with the concept of big data, and how to find a genuine and affordable business case with which to conduct big analytics products.
A recent study found the UK's smaller businesses are all but ignoring big data, while larger firms such as McDonald's admit they are only just working out how to make use of their mounds of customer data.
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