Two Singaporean PEs join forces to raise $700 million tech fund

CSP Fund II Partner Sanjay Chakrabarty

Singapore-based private equity firms Capital Square Partners (CSP) and Basil Technology Partners (BTP) have announced a partnership and the closing of a $700 million fund.

The CSP Fund II raised capital from funds managed by HarbourVest Partners, TPG NewQuest, Committed Advisors and other institutional investors. It will acquire a portfolio of companies from CSP and BTP and provide capital for follow-up and new investments into the expanded platform.

The new fund will operate under the existing CSP platform to build on a successful track record of investing in global technology services companies.

The team behind CSP Fund II consists of Sanjay Chakrabarty, Rajeev Srivastava, Mukesh Sharda, Bharat Rao (Non-Executive Director) and Sameer Kanwar. Over the past decade, the team has managed more than $1.3 billion in AUM, operating and exiting multiple companies including Minacs, Indecomm and GAVS Technologies.

Also Read: Lighthouse Canton Reaches First Close of its First $20 Million Venture Debt Fund

Partner Chakrabarty said, “We are 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 will provide compelling investment opportunities for the CSP Fund II.”

CSP was founded in 2014 and is based in Singapore. It is a private equity firm investing in technology and business services in Southeast Asia and India. Since its inception, it has raised over $500 million in investments in cross-border companies with multinational operations.

Founded in 2008, Basil is a private equity firm investing in niche technologies disrupting the IT services space.

Singapore-based global investment firm Lighthouse Canton recently announced the first closing of its newly launched $20 million venture debt fund. Its regional venture debt strategy includes a Singapore-based Variable Capital Company (VCC) investing in Southeast Asia and a Category II Alternative Investment Fund (AIF) investing in India.

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The post Two Singaporean PEs join hands to launch $700m tech fund, first appearing on e27.