Capital Square Partners and Basil Technology Partners announce completion of merger to create one of the largest cross-border, technology services fund manager in Asia
01 June 2023
Capital Square Partners (“CSP”) and Basil Technology Partners (“BTP”) today announced that they have completed the merger of the two teams and would henceforth operate as CSP. With this merger, CSP aims to consolidate its position as one of the largest cross-border, technology services dedicated private equity fund manager in Asia and will continue to augment its combined execution capability.
“Following the successful closing of CSP Fund II, c.US$ 700 million fund, announced in January through a partnership between CSP and BTP, the teams had been working very closely over the past few months. To ensure a seamless, streamlined and efficient execution of our investment thesis, both teams felt it would be better to merge and operate as one team. We will continue to focus on our core competence, and invest in the areas of technology and business services, emerging SaaS, AI, data analytics and digital sub-sectors,” said Sanjay Chakrabarty, Managing Partner of CSP.
Rajeev Srivastava, Executive Chairman of BTP, highlighted, “Our investors and the management teams of our portfolio companies, namely Movate, Relevance Lab, Startek, Accion Labs and SDG, have shown immense faith in the teams at CSP and BTP. The effortless manner with which the teams have collaborated to drive organic and inorganic growth of our existing portfolio, and are evaluating new investment opportunities led us to formally merge and operate as one team”.
With formal approval obtained from the Monetary Authority of Singapore (“MAS”), CSP and BTP completed all the formalities required to merge the two entities into CSP effective June 1, 2023, and continue as a Capital Markets Services (CMS) license holder and regulated fund manager.
About Capital Square Partners
Founded in 2014 in Singapore, Capital Square Partners is a private equity firm investing in cross-border technology and business services across Southeast Asia and India. As a sector focused fund manager with $1.4 billion under management, CSP is one of the largest dedicated technology and technology enabled business services private equity fund manager in Asia. Over the past decade, the team has invested, created and exited a number of leading companies in technology services sector, including Minacs, Indecomm, GAVS Technologies and Accion Labs. Capital Square Partners holds a Capital Markets Services (CMS) License from the Monetary Authority of Singapore, as per the Securities & Futures Act of the Government of Singapore. For more information click here.