Relevance Lab Secures Backing of US$700 Million
CSP Fund II; Eyes Accelerated Growth
SAN JOSE, Calif., Feb. 21, 2023 /PRNewswire/ -- Relevance Lab, a leading provider of digital transformation services, today announced that it has secured the backing of US$700 Million CSP Fund II, a technology-focused private equity fund. With this investment Rajeev Srivastava & Sanjay Chakrabarty from CSP Fund II, will join the Board of Relevance Lab. This comes on the back of the recently announced merger of CIGNEX and Excellerent with Relevance Lab. The merged entity now has significant presence across North America, India and Ethiopia with a headcount of 1,500+ employees. The merger provides the platform with an integrated approach to address all the dimensions of digital transformation from its global development centers.
Announcing the same, Vasu Sarangapani, recently appointed President & CEO, Relevance Lab, said, "I believe that with the backing of CSP Fund II, we will have the ability to accelerate business growth in our focus markets and execute on identified opportunities for M&As. This will also give us the opportunity to cross-sell and upsell within their larger portfolio".
Speaking on behalf of CSP Fund II, Rajeev Srivastava said, "Our core competency is in bringing small to mid-sized companies together under a unified platform and accelerating growth. We believe that this strategic merger, along with Vasu as President & CEO, provides the necessary impetus to scale Relevance Lab."
About Relevance Lab
With its recent merger with CIGNEX and Excellerent, Relevance Lab is a leading provider of digital transformation & cloud services. The firm's global delivery footprint now spans India, North America & Ethiopia; with 1,500+ global employees with innovation centers in India across Bangalore, Delhi NCR & Ahmedabad; and Ethiopia. The firm provides the platform to have economies of scale to have an integrated approach to address all the dimensions of digital transformation from its global development centers. To know more click here, Relevance Lab| Driving Frictionless Business.
About Capital Square Partners
Founded in 2014 in Singapore, Capital Square Partners is a private equity firm investing in cross-border technology and business services across Southeast Asia and India. Launched in December 2022, the US$ 700 Million CSP Fund II is building on a successful track-record of investing in global technology services companies. Over the past decade, the team of Sanjay Chakrabarty, Rajeev Srivastava, Mukesh Sharda, Bharat Rao (non-executive director) and Sameer Kanwar has managed in excess of US$1.3 billion in AUM and has operated and exited multiple companies in the technology services space, including Minacs, Indecomm and GAVS Technologies. Capital Square Partners holds a Capital Markets License from the Monetary Authority of Singapore, as per the Securities & Futures Act of the Government of Singapore. For more information click here.