Anicut Capital invests Rs 133 Cr in TAO Digital Solutions
Launched in the first quarter of the current fiscal, GAF-4 is Anicut's third private credit fund having a size of Rs 1,000 crore with a green-shoe option of Rs 500 crore.
Venture capital firmhas invested Rs 133 crore in US-based TAO Digital Solutions through private credit fund, GAF-4, the investment company said on Friday.
Launched in the first quarter of the current fiscal, GAF-4 is Anicut's third private credit fund having a size of Rs 1,000 crore with a green-shoe option of Rs 500 crore. "Anicut Capital invests Rs 133 crore in TAO Digital Solutions through Private Credit Fund," the statement said.
The funds shall be used by TAO Digital Solutions to acquire TriGeo Technologies to expand its Digitization services, Anicut Capital said in a statement.
TAO Digital Solutions (TAO) is an IT services company that operates on a global delivery model with offices in the US, Canada, India, Australia and Nigeria.
"We are extremely delighted with the financing received from Anicut Capital. This will play a pivotal role in elevating our offerings to our customers and help us take the next leap in our journey. With the acquisition of TriGeo, our platform is set to incorporate digitisation services, annotation and labelling, 3D modeling, and digital twinning capabilities to better serve our customers," TAO Digital Solutions, CEO, Rajkumar Velagapudi said.
Over the last seven months, Anicut Capital's GAF-4 has successfully deployed over Rs 220 crores in thriving industries like technology, ITeS, electronics manufacturing, and engineering services.
"We are thrilled to be a part of TAO's growth journey. We strongly believe that TAO is poised to become a market leader soon, propelled by their technological advancements and with the acquisition of TriGeo, TAO has already taken the first step in that direction," Anicut Capital, Partner and Chief Credit Officer, A Jayaseelan, Anicut Capital said.