Capital Square partners with Basil Technology to build regional investment platform

Singapore-based private equity firms Capital Square Partners (CSP) and Basil Technology Partners (BTP) have publicly announced a partnership that seeks to build a leading regional technology investment platform.

In addition to this, CSP also announced that it already closed its recent funding round with a total of $700 million in investments raised.

CSP Fund II raised additional capital from funds managed by HarbourVest Partners, TPG NewQuest, Committed Advisors and other institutional investors.

The company said in a statement that it plans to acquire a portfolio of companies from CSP and BTP and at the same time provide the enlarged platform with capital for follow-on and new investments.

The $700 million in investments that it recently earned will operate under the existing CSP platform to build a successful track record of investing in global technology services companies.

“We are building a leading regional technology investment platform, focused on leveraging our expertise in technology services and the emerging SaaS, AI, data analytics and digital sub-sectors. We believe these sectors will continue to show strength and resilience through economic cycles and yield compelling investment opportunities for CSP Fund II,” Partner Chakrabarty said.

The CPS team behind its Fund II include Sanjay Chakrabarty, Rajeev Srivastava, Mukesh Sharda, Bharat Rao (non-executive director), and Sameer Kanwar.

For over a decade now, the team has managed more than $1.3 billion in AUM as they also operated and exited multiple companies, including Minacs, Indecomm and GAVS Technologies.

The Singapore-based CSP, that was founded in 2014, is a private equity firm that invests in technology and business services across Southeast Asia and India.

CSP has so far made over $500 million in investments in cross-border businesses with multinational operations since its inception, the company said in its statement.

Basil, that was founded in 2008, is a private equity firm that invests in niche technologies disrupting the IT services space.

Just recently, Singapore-based global investment firm Lighthouse Canton has announced the first close of its newly launched venture debt fund at $20 million.

The company’s regional venture debt strategy include a Singapore-based variable capital company (VCC) for investments in Southeast Asia and a Category II alternative investment fund (AIF) for investments in India.