Investment platform Recognize raises $1.3B fund to back tech services startups
Founded by industry experts, Recognize, a technology investment platform, has raised approximately $1.3 billion for its inaugural fund.
The platform, which is focused on investing in the technology services industry, is co-founded by Francisco D’Souza, Co-founder and former CEO of tech services firm Cognizant; Charles Phillips, former Chairman and CEO of enterprise SaaS company Infor and former President of software company Oracle; former President of Cognizant, Raj Mehta; and David Wasserman, former Partner at private equity firm Clayton, Dubilier and Rice.
“Recognize strives to be a first-of-its-kind platform, linking inspired technology entrepreneurs and founders who have unconventional ideas with strategic capital, operational expertise, and industry insights,” the company said in a press release.
The investment platform has already invested in three technology companies. These are Ciklum, a cloud-native and digital engineering firm with a delivery network across Eastern Europe; SpringML, one of the largest pure-play services organisations focused on data, AI/ML, and other Google Cloud solutions; and Torc, a virtual talent platform for software engineers.
“The speed of technological innovation is changing entire industries, and it is imperative for businesses and governments to keep pace,” said Co-founder Francisco D’Souza.
“The technology services market is 3.5x larger than the software industry, yet the sector has only attracted one-third of the amount of private equity capital, underscoring the opportunity for focused investors with a deep knowledge of the industry.”
Through this platform, entrepreneurs and founders gain access to exclusive talent networks, corporate relationships, and intellectual property, as well as an operating playbook of best practices to help companies scale, innovate, and operate more efficiently, the company said.
“We have assembled a distinct group of operators and investors, who are committed to empowering the next generation of industry champions,” said Co-founder David Wasserman. “We look forward to partnering with companies and talented management teams to shape this sector.”