A division of Wichita-based Koch Industries Inc. has made an investment of $500 million in Mavenir, a Dallas-area company that provides software for wireless technology.
The investment was made by Koch Strategic Platforms and will make it a minority equity holder in the tech company.
According to a press release, affiliates of Siris Capital Group LLC, a technology-focused private equity firm, will remain majority equity holders.
"We have built a next-generation software platform that has driven, and will continue to drive, the digital transformation of mission-critical networks," said Pardeep Kohli, CEO of Mavenir. "Together with KSP and our service provider customers, we expect to bring innovation and 5G to revolutionize industries such as energy, industrial automation and health care."
For KSP, the investment continues what division president David Park told the WBJ in February was a goal to invest up to $3 billion by the end of the year.
“We’re taking material minority equity positions in innovative, disruptive companies with strong management teams that operate in industries with significant tailwinds,” Park said of the latest investment. “We want to partner with companies that can transform Koch Industries for the future. Mavenir checks all the boxes.”
According to a report from the Dallas Business Journal, Mavenir last fall backed off plans for an initial public offering that could have seen the company’s valuation at nearly $2 billion.
