Top 300 accounting firm KNAV Advisory said on Sept. 16 that it has secured a minority investment from NKSquared, the U.S. investment vehicle of Indian billionaire entrepreneur and investor Nikhil Kamath.
The funding will be used to drive the firm’s growth initiatives, including both domestic and foreign acquisitions, as well as to bring in new talent to offer expanded services and increase technology investments, KNAV said in a media release.
Atlanta-based KNAV, which operates under an alternative practice structure, provides a seamless global delivery model for accounting and business advisory services, in contrast to the typical network and association firm models traditionally adopted by the accounting profession. Outside of its Atlanta headquarters, the firm has offices in New York City, Houston, and San Ramon, CA, as well as offices in Canada, the Netherlands, India, the Philippines, Singapore, and the United Kingdom.
“This investment will enable us to further enhance our seamless and integrated service delivery model across the globe,” KNAV CEO Nishta Sharma said in a statement.
This investment represents NKSquared’s first foray into the professional services industry. NKSquared’s stake is expected to remain a minority position, ensuring that KNAV retains its leadership and strategic direction.
“We are thrilled to partner with KNAV, a firm that consistently demonstrates innovation and leadership in the accounting and advisory industry,” Kamath said. “At NKSquared, we seek businesses that not only show strong growth but also drive positive change within their sectors, making KNAV an ideal partner. We believe this investment will further enhance KNAV’s ability to scale globally, providing top-tier services and setting themselves apart from the competition.”
Earlier this year, KNAV acquired Natarajan & Swaminathan, a Singapore-based accounting firm, enhancing its presence in the Singapore market. KNAV also launched a long-term incentive plan for its global employee pool through the issuance of stock appreciation rights, aimed at attracting and retaining top talent across its offices worldwide.
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