Chennai-based Anicut Capital, an investment firm managing alternative assets, has invested ₹133 crore in IT services company TAO Digital Solutions, through private credit fund, GAF-4. The funds will be utilized by TAO Digital Solutions to acquire tech firm TriGeo Technologies, to expand its digitisation services.
TAO Digital Solutions (TAO) is working on a mission to unlock limitless digital innovations through solutions and services. TAO helps clients reimagine their businesses through a digital lens, and operates on a global delivery model with offices in the United States, Canada, India, Australia and Nigeria.
Rajkumar Velagapudi, CEO of TAO Digital Solutions said, “With the acquisition of TriGeo, our platform is set to incorporate digitisation services, annotation and labelling, 3D modelling, and digital twinning capabilities to better serve our customers.”
“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,” said A. Jayaseelan, Partner and Chief Credit Officer, Anicut Capital.
Anicut Capital also said that over the last seven months, GAF-4 has successfully deployed over ₹220 crore in thriving industries like technology, ITeS, electronics manufacturing, and engineering services. Launched in Q1FY24, GAF-4 is Anicut’s third private credit fund with a size of ₹1,000 crore with an additional green shoe option of ₹500 crore. The firm’s strategic goal for this fund is to target industries with significant tailwinds and businesses having strong cash flows coupled with strong growth.
