KPMG plans to launch its first investment fund, a US$100 million in-house venture capital fund, which aims to provide early-stage capital to data and analytics firms.

The new fund called KPMG Capital will be based in London and will primarily invest in data and analytics businesses in the UK and US through strategic acquisitions, technology partnerships and other data and analytics capabilities.

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The fund will be managed as a separate entity within its parent’s global network without providing professional services such as auditing

Additionally, the new fund will co-invest, sponsor and partner with other groups to encourage entrepreneurs to be bold, targeting on growth sectors such as healthcare, financial services, energy and telecommunications.

The fund will be topped-up with additional capital infusion from its parent so that the investments prove to be successful.

The fund will be managed by Mark Toon, the head of KPMG’s data and analytics practice.

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KPMG employs 152,000 people around the world in 156 countries and with combined revenues of US$23 billion.

Mark Toon, chief executive of the fund, said: "With more data produced and stored in the last two years than in the rest of human history, many businesses are looking for strategic and practical solutions to manage the volume, velocity and variety of this data revolution.

"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, head of KPMG UK, said the company’s global reach combined with the fund’s capital will make it the go to business partner in technology.