Capital Square Partners And Basil Technology Partners Establish One Of The Largest Technology Services Dedicated Funds In Asia

Capital Square Partners (“CSP”) and Basil Technology Partners (“BTP”) (collectively the “GP” or the “Team”), two Singapore-based private equity firms, announced a new partnership and the successful close of a c.US$700 million fund (“CSP Fund II” or the “Fund”). In likely a first-of-its-kind transaction in Asia, CSP Fund II raised capital from funds managed by HarbourVest Partners (“HarbourVest”), TPG NewQuest and Committed Advisors, as well as other institutional investors (collectively, the “Investors”), to acquire a portfolio of companies from the GP’s existing funds under management as well as provide the enlarged platform with capital for follow-ons and new investments (the “Transaction”). The Team will operate under the existing CSP platform as it looks to build on a successful track-record of investing in global technology services companies. HarbourVest and TPG NewQuest co-led the deal. HarbourVest led the structuring of the transaction.

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The Transaction is believed to have established one of the largest technology services dedicated funds in Asia and the combination of the teams at CSP and BTP will significantly augment the platform’s execution capabilities. The Team consists of Sanjay Chakrabarty, Rajeev Srivastava, Mukesh Sharda, Bharat Rao (non-executive director), and Sameer Kanwar. Over the past decade, the Team has managed in excess of US$1.3 billion in AUM and has operated and exited multiple companies in the technology services space, including Minacs, Indecomm and GAVS Technologies.

Sanjay Chakrabarty, Partner, said, “We are excited to be joined by the BTP team in building a leading regional technology investment platform, focused on leveraging our expertise in technology services and the emerging SaaS, AI, data analytics and digital sub-sectors. We believe these sectors will continue to show strength and resilience through economic cycles, and yield compelling investment opportunities for CSP Fund II. We look forward to our continued partnerships with best-in-class founders and companies.”

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Rajeev Srivastava, Partner added, “We are thrilled to be growing our capabilities under the Capital Square Partners platform and appreciate the guidance from UBS in structuring this highly complex transaction. We are grateful for having HarbourVest as a capital partner as we embark on a new phase of growth for our portfolio companies and appreciate the strong endorsement from TPG NewQuest and Committed Advisors. We look forward to executing on an exciting pipeline of opportunities with CSP Fund II.”

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