Mumbai: TPG will invest $360 million in Fractal.ai, a global provider of artificial intelligence and advanced analytics solutions, through TPG Capital Asia, the firm’s Asia-focused private equity platform.
TPG and Fractal had signed a definitive investment agreement.
The transaction includes a combination of primary investment and secondary share purchase from funds advised by Apax, who will remain a major shareholder following the transaction.
The transaction is expected to close by the first quarter of 2022.
“We continue to see great momentum in how clients are leveraging AI to accelerate digital transformation. Fractal is building a great workplace and an innovative culture that’s driving significant client outcomes through our ‘user focused, decision-backwards’ approach to solving problems,” said Srikanth Velamakanni, Co-founder & Group CEO, Fractal.
“TPG’s capabilities across all our markets and their proven success in building and supporting top AI providers is the perfect complement to the partnership we’ve enjoyed with Apax, whose insight and expertise have been instrumental in accelerating our growth,” he added.
