Fractal Announces $360 Million Investment From TPG

Fractal, a provider of advanced artificial intelligence and analytics solutions, has signed a definitive investment agreement with TPG, a global alternative asset firm.

TPG is investing $360 million in Fractal through TPG Capital Asia, the company’s Asia-focused private equity platform, in a deal that includes a combination of initial investment and secondary stock purchases from funds advised by Apax, which will remain a major shareholder after the deal.

The deal is expected to close by the first quarter of 2022. Additional terms were not disclosed.

TPG is an investor in software and enterprise technology with experience in partnering with the best AI solutions, business analytics, and data processing companies. Current and previous companies that TPG has invested in include C3 AI, Digital.ai, LLamasoft, MX, Noodle Analytics, and Onfido.

“We continue to see significant momentum in how customers are leveraging AI to accelerate digital transformation. Fractal is building a great workplace and an innovative culture that drives critical customer outcomes through our user-centered, decision-return approach to problem solving.” Srikanth Velamakanni, co-founder and CEO of the group, Fractal. “TPG’s capabilities in all of our markets and its proven success in building and supporting top AI providers are a perfect complement to the partnership we have enjoyed with Apax, whose insight and expertise has been instrumental in accelerating our growth.”

“In the growing market for data and analytics services, Fractal continues to stand out as one of the most recognized and distinguished service providers and a clear leader in artificial intelligence and advanced analytics,” added Punit Bhatia, Co-Managing Partner of TPG Capital Asia. . “The quality of Fractal’s offerings has enabled them to build a deep and loyal client base, made up of some of the largest and most respected companies in the world. Srikanth and Pranay have built a highly respected company and a market leader, and we are therefore excited to partner with this proven management team to continue to drive growth The Organic and Strategic for Fractal”.

Fractal has more than 3,500 employees in 16 global locations, including the United States, United Kingdom, Ukraine, India, Singapore and Australia.

As part of the deal, TPG’s Puneet Bhatia and Vivek Mohan will join Fractal’s board of directors. All current directors including Gavin Patterson, Rohan Haldia, Shashank Singh and Gulu Merchandani will continue to serve on the company’s board of directors. Both TPG and APAX will be minority shareholders in the company.

For more information, go to https://fractal.ai.

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