Fractal Analytics looks to raise Rs 475 crore from private equity investors

MUMBAI: Data analytics company Fractal Analytics is looking to raise Rs 400-475 crore ($60-70 mn) from private equity investors, three people with direct knowledge of the development said.

Global growth PE firm TA Associates, which invested Rs 150 crore for a minority stake in the company in 2013, will also look at partially exiting its investment, these people said.

Fractal had also raised an undisclosed amount from Toronto Stock Exchange-listed Aimia Inc in August 2014 by selling a minority stake. “While TA Associates will look to partially exit its investment, Aimia is likely to co-invest with incoming investors,” said a banker with knowledge of the development.

The management has sounded off a lot of growth PE investors and global funds to raise the capital. The company is looking to sell 10-15% incremental primary stake along with a part of TA’s stake to the new investors.

“The company is looking at raising money to expand its operations and would create a war chest for smaller acquisitions in the space,” said one of the people involved in the fund raising. Srikanth Velamakanni did not respond to emailed query and SMS sent last week.

Srikanth Velamakanni, one of the founders of Fractal, did not respond to emailed query and SMS sent last week.