PE Fund Investments
Apax Partners acquires 52.1% in HR management platform greytHR
Apax Digital Fund II, a fund managed by the global PE firm ?Apax Partners?, has acquired a 52.1% stake in greytHR , a Bangalore-based HRMS provider via primary investment and secondary purchases from existing investors and the promoters of greytHR. Shashwat Shukla, Vice President at Apax Digital, will join greytHR’s board of directors as part of the transaction.greytHR provides over 40 tools for automating HR functions, including payroll, leave, attendance, and performance management, along with an employee self-service portal and mobile app. The primary investment will be used by greytHR to expand its product portfolio with additional strategic HR modules for recruitment and talent management, while also supporting the company’s growth and expansion into new customer segmentsGreytip Software Private Limited, which operates GreytHR, had raised INR 34.5 crore from Infoedge and MegaDelta Capital in October 2019. Following the latest transaction, Info Edge’s shareholding will decrease from 22.7% to 18.71% on a fully diluted and converted basis.
Between Jun-14 and Nov-21, Greytip had raised over USD 19 M from Blume Ventures, Infoedge and NEA / MegaDelta
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