Basil Partners announced the closing of their third fund, which has been formed through a complex restructuring and secondary acquisition of a portfolio of seasoned digital services companies. The transaction was anchored by Committed Advisors, an independent private equity firm, out of its €1bn global secondary fund raised in 2016, and NewQuest Capital Partners, a leading secondaries private equity platform focused on the Asia-Pacific region with over $1.25 billion committed capital under management.
Basil Partners’ advisory team consists of specialist technology investors with deep experience in digital business transformation services using niche, disruptive and high growth technologies. Led by Rajeev Srivastava, a successful serial entrepreneur, alongside Sameer Kanwar, his Partner, Basil is well known within the technology communities of SE Asia, India and USA for founding, growing and successfully exiting tech and tech related businesses. Sanjiv Maheshwari, a long standing Senior Advisor in India, provides key support services to Basil and its investee companies.
The transaction was conceptualized and structured by Soma Ghosal Dhar, who joins the Basil team as a Partner and CEO of Basil Technology Partners Pte Ltd. Soma is a veteran of the private equity space in Asia, with prior stints at Credit Suisse and GE, and specializes in investing in knowledge-based sectors.
Capstone Partners acted as the exclusive financial advisor and placement agent for Basil in this transaction. Dechert LLP acted as legal counsel for the limited partners and the fund, while Basil retained Lexygen India.
On this transaction, Rajeev Srivastava, Managing Partner of Basil said, “We are very pleased about this partnership with our new investors, which will enable Basil to recapitalize and continue the very exciting growth story in our tech services portfolio. With combined revenues of US$300 million and market recognition for their IP in new digital technologies, our portfolio companies are very well positioned to benefit from this partnership.”
Barthélémy de Beaupuy, Co-Founder of Committed Advisors and Head of its Singapore office, commented, “We are thrilled to partner with the deeply experienced technology investment professionals at Basil, and we look forward to supporting their digital services portfolio as they continue to broaden their offering and deliver best-in-class solutions and services.”
Amit Gupta, Founding Partner at NewQuest, stated, “The Basil transaction is a landmark transaction for Asia. It entailed a complex restructuring of a portfolio of previously disparate stakes and provides for additional capital. The transaction positions the companies well for capturing the next stage of growth with the guidance and specialist knowledge of the Basil team. We are truly excited to embark on this new chapter with the Basil team.”
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