Global private equity biggie Silver Lake, which shot into prominence after acquiring PC maker Dell Inc along with Michael Dell, has made its first India play by investing in Bangalore-based Eka Software Solutions, a firm that creates software for commodity trading.
Silver Lake, which is leading the nearly $41 million investment round through its growth capital fund Silver Lake Kraftwerk, will pick up a minority stake in Eka Software.
“This is a strategic investment in the global commodity marker where technology is playing an increasingly critical role,” said Bryce Lee, a Managing Director at Silver Lake Kraftwek.
“We look forward to working with the Eka team, and helping them explore new opportunities and develop innovative products and solutions for customers,” he added. Eka, which has been growing at a 35 per cent CAGR over the last five years, will use the investment to expand the company’s international presence, bring new product offerings at a faster pace and acquire more companies.
The investment in Eka marks Silver Lake Kraftwerk’s first investment in India, according to a company statement.
“We are very excited to partner with Silver Lake.The partnership will further accelerate our growth and help us achieve our long term strategic vision. We now look forward to working with Silver Lake to further expand and build our platform,” said Eka founder and CEO Manav Garg, in a statement.
