Jun 24, 2013
Published By : Deal Curry
TA Associates is investing R150 Cr for a minority stake in Mumbai based data analytics provider - Fractal Analytics. The funds will be used for expansion into other geographies, grow its sales team and build more products with intellectual property rights.
As a part of deal, Naveen Wadhera - Director and Country Head of TA Associates along with Kenneth T Schiciano, TA Associates' MD from Boston will join the Fractal Analytics Board.
Avendus Capital served as exclusive financial advisor to Fractal Analytics. Nishith Desai Associates and Goodwin Procter LLP provided legal counsel to TA Associates, while DSK Legal provided legal counsel to Fractal Analytics.
Founded in 2000 by Srikanth Velamakanni and Pranay Agrawal, Fractal Analytics helps financial institutions, consumer companies and retailers to understand consumer behaviour and consults companies on their various products and pricing strategies.
The company now employs 600 executives in seven offices across the world.
Founded in 1968, TA Associates has invested in more than 425 companies around the world and has raised $18 bn in capital. This February, TA Associates along with Westbridge Capital invested $44 Mn in Pathology Chain – Dr Lal Pathlabs for minority stake.
In this segment, Qubole Data Service, a SaaS analytics platform raised Series A investment of $7 Mn from Charles River Ventures and Lightspeed Ventures. Fidelity Growth Partners India committed $20Mn investment in AbsolutData, provider of data analytics services to global organizations.