Private equity firm ChrysCapital Funds has appointed Sanjay Jalona — the former CEO and managing director of Larsen & Toubro Infotech (LTI) — as the operating partner for investments in its business services sector.
He will be based out of the US and will work closely with the advisory team led by Akshat Babbar about investments made in this sector, the company said in a statement.
Jalona relinquished his position with LTI in May this year after construction major Larsen & Toubro merged its subsidiaries — Mindtree and LTI – to create the sixth-largest information technology company in the country. Jalona, who has three decades of IT services experience, guided LTI through its initial public offering (IPO) process and is credited for its rapid and comprehensive transformation.
“Given his phenomenal track record and experience working with some of the largest IT services firms, he will play an instrumental role in helping accelerate the growth of the fund’s portfolio companies. ChrysCapital has ambitions of creating a far bigger impact in global IT in the years to come and joining hands with Sanjay Jalona is a crucial step in that journey,” Kunal Shroff, managing partner at ChrysCapital said.
Set up in 1999, ChrysCapital group has about $5 billion of assets under management across nine funds.
ChrysCapital’s current investments in business services include ResultsCX, Quest Global and GeBBS Healthcare. Past investments in the sector include Infogain, LiquidHub, HCL Technologies, Infosys, LTI, Hexaware, Mphasis, KPIT, Cyient, SpectraMind and NIIT.