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HomeBusinessPersonal fairness fund Acknowledge raises $1.3 bn

Personal fairness fund Acknowledge raises $1.3 bn

Personal fairness platform Acknowledge stated it had raised about $1.3 billion for its inaugural fund.

The fund, led by former Cognizant CEO Francisco D’Souza, stated it’s focussed on the $2-trillion expertise providers trade.

“The technology services market is 3.5 [times] larger than the software industry, yet the sector has only attracted one-third of the amount of private equity capital,” stated Mr. D’Souza, who’s managing director and co-founder.

“This underscores the opportunity for focussed investors with a deep knowledge of the industry,” he added.

The agency was based by trade veterans with expertise in constructing world expertise corporations, together with Raj Mehta (former president of Cognizant). Charles Phillips (former chairman and CEO of enterprise SaaS firm Infor and former president of software program agency Oracle), and David Wasserman (former companion at personal fairness agency Clayton, Dubilier & Rice).

Acknowledge has closed on three platform investments with greater than 4,000 staff. Its portfolio consists of Ciklum and Spring ML which have improvement centres in Chennai and Hyderabad, respectively. Throughout its investments — each present and within the pipeline — Acknowledge stated it aimed to have headcount of 1,000 in India by the top of the yr.

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