The business will enable access to capital flows to initiate an important expansion process in Latin America.
The Chilean law firm Lemontech today announced the sale of a majority stake in its North America Accel-KKR fund through a primary sale and a secondary capital increase.
Accel-KKR is a fund created by Accel, Silicon Valley's largest venture capital and investor in companies such as Facebook, Spotify and Dropbox, in collaboration with KKR, the second largest private equity company in the world.
In Lemontech, they reported that this operation provides an opportunity for expansion and growth in the region. "The introduction of a Silicon Valley Private Equity Fund with Accel-KKR reputation is a strategic step to expanding Lemontech's presence in the region," said Ignacio Canals, founder and chairman.
On the other hand, the founder of Accel emphasized the KKR, Tom Barnd's course for the Chilean company. and assured that through this partnership, "we will focus on consolidating the company's leading position and accelerating business growth in Latin America," he said.
As for the projection of Lemontech after this operation, the company stated that youIt will use the resources of the investment to accelerate and strengthen innovation in its products, expand its human capital and consolidate its leadership in the international market. In addition, it will use the knowledge of more than 180 acquisitions of Accel-KKR technology companies to implement best practices and accelerate growth.
Accel-KKR, together with the current operations, will participate as an advisor to Lemontech in several areas. Tom Barnds and Rob Palumbo, founder of Accel-KKR, will be on the board, as will John Crowell, who leads Accel-KKR's Latin American investments.