PE firm TPG invests $360 mn in AI and analytics services firm Fractal

PE player Apax is exiting partially via this fund raise. It had invested $200 million in Fractal in 2019

Private equity firm TPG is investing $360 million (around Rs 2,700 crore) in Fractal, an AI and analytics services provider, through TPG Capital Asia. The transaction, which includes a combination of primary investment and secondary share purchase, is expected to close by the first quarter of 2022.

Though the company did not disclose the valuation post the fund raise, senior management said that the company is well above the $1 billion valuation mark.

PE player Apax is making a partial exit through this fund raise. The company did not disclose how much Apax diluted in this round of investment. Apax