ChrysCap Lines Up $45 M For Three Deals In India

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New Delhi: : ChrysCapital, a private equity firm, is planning to invest up to $45 million in three large deals in India. The company is keen on investing in companies in the areas of IT services, business process outsourcing (BPO) and domestic services with an exposure to the US.

The VC firm started with a corpus of $200 million and has already invested up to 40 per cent in the country.

But in terms of the total funds committed and invested, ChrysCapital has exhausted $95 million of the total, according to the VC firm officials.

“Our interests will largely remain the same as the last year. We are trying to identify companies in the areas of BPO, IT services and domestic services in this calender and are looking at three large deals,” ChrysCapital senior managing director Ashish Dhawan told eFE.

Apart from the three deals slotted for this calender, the firm is also on the verge of closing a deal in the BPO segment. “The funds have already been committed for this BPO and within a month we should be able to announce this,” Mr Dhawan said.

ChrysCapital has largely been focused on large deals of over $10 million and has invested in companies like TransWorks, GlobalVantedge, Acfin, Ugam Solutions, Spectramind, JobsAhead, Mphasis BFL, iVega Corporation, Egurucool, Fabmart and Bazee.com.

Its investors include institutional investors like Harvard Management, IBM, Government of Kuwait, Microsoft, Stanford University and the Singapore government. Its investors also include founders of technology firms in the US, CEOs of multinational firms and partners of several global private equity firms.

TransWorks is a provider of outsourced customer support services with presence in the US and India. Global VantEdge is a company specialising in the collection of accounts receivable and recovery of debt for its clients.

AcFin offers accounting and finance co-location service centres in India for Fortune 1000 companies who have shared service centres in the US and/or Western Europe. Ugam Solutions and Spectramind are IT-enabled services companies.