Private Equity Firm Business Services

Capital Square Partners

Singapore, Singapore, Singapore

We are a private equity investment firm investing across Telecommunications, Media & Technology (TMT), Healthcare, Consumer and Business services sectors with footprints across Southeast Asia and India. We invest in companies that we can believe in and typically like to own the businesses or have substantial positions, either by ourselves or as part of an investor consortium.

Focus Areas
Technology-enabled business services, TMT (telecommunications, media & technology), Healthcare

Tracked deals

7

7 tracked deals across 2016-2024.

Recent pace

0

0 tracked deals announced in the last 12 months.

Deal mix

Growth capital

4 growth capital · 3 buyout

Capital Square Partners Acquisition Volume by Year

Last 3 years

Acquisition volume by year Annual acquisition counts for the last 3 years for Capital Square Partners. 1 2017 1 2023 4 2024

Supporting Data

Recent Transactions

  • Buyer
    Capital Square Partners, ServiceNow Ecosystem Ventures (ServiceNow)
    Target
    inMorphis
    Industry
    IT Services
    Location
    Uttar Pradesh, India

    Capital Square Partners led a strategic growth equity investment in inMorphis with a co-investment from ServiceNow Ecosystem Ventures, marking inMorphis' first institutional funding. The capital will accelerate inMorphis' go-to-market expansion, development of GenAI-enabled ServiceNow offerings, hiring and delivery-center expansion across India and ASEAN, and enable tuck‑in acquisitions to scale capabilities.

  • Buyer
    Capital Square Partners
    Target
    Trianz
    Industry
    IT Services

    Capital Square Partners (CSP), a Singapore-based private equity firm, has made a strategic growth equity investment in digital transformation software and services firm Trianz. The undisclosed transaction will support Trianz's shift to an IP-led model and scale its SaaS platforms in cloud, data/AI and digital workplace while accelerating global expansion.

  • Buyer
    Capital Square Partners
    Target
    Bits In Glass
    Industry
    IT Services
    Location
    Alberta, Canada

    Capital Square Partners, a Singapore-based private equity firm, has completed a growth investment in Bits In Glass, a digital transformation and hyperautomation services firm headquartered in Edmonton, Alberta. The investment will support BIG’s organic and inorganic growth, global expansion and capability enhancement; Canaccord Genuity advised Bits In Glass on the transaction.

  • Buyer
    Capital Square Partners (funds managed by CSP Management Limited)
    Target
    Startek, Inc.
    Seller
    Public shareholders of Startek
    Industry
    IT Services
    Type
    Buyout

    Funds managed by Capital Square Partners (CSP) completed a take-private acquisition of Startek, Inc. on January 5, 2024, paying $4.30 per share and delisting the company from the NYSE. CSP acquired the remaining shares it did not already own (reported ~ $75 million for the minority stake), gaining full ownership of the global customer experience (CX) provider which operates across 12 countries and employs ~38,000 associates.

  • Buyer
    CSP Fund II (Capital Square Partners)
    Target
    Relevance Lab
    Industry
    IT Services

    Relevance Lab has secured backing from CSP Fund II, a US$700 million technology-focused private equity fund managed by Capital Square Partners, with Rajeev Srivastava and Sanjay Chakrabarty joining the company's board. The investment follows Relevance Lab's merger with CIGNEX and Excellerent, creating a combined platform of 1,500+ employees across North America, India and Ethiopia and providing capital to accelerate growth, M&A and cross-sell initiatives.

  • Buyer
    Capital Square Partners
    Target
    Aegis
    Seller
    AGC Holdings Limited (AGC) Mauritius, Essar Global Fund Limited, ESM Holdings Limited
    Location
    Maharashtra, India
    Type
    Buyout

    Capital Square Partners (CSP) has acquired 100% of the holding company for Aegis from AGC Holdings (an Essar Global Fund portfolio company) for approximately US$300 million. The sale marks Essar's complete exit from the BPO business and will help retire group debt; CSP intends to work with Aegis management to grow its global footprint and capabilities.

  • Buyer
    Capital Square Partners
    Target
    Indecomm Global Services
    Seller
    WestBridge Capital Partners, Tiger Global, International Finance Corporation (IFC)
    Industry
    IT Services
    Location
    Karnataka, India
    Type
    Buyout

    Singapore-based private equity firm Capital Square Partners has acquired close to a 55% stake in Indecomm Global Services, a Bangalore-headquartered technology-enabled services and outsourcing company, in a deal valued at about $90 million. The transaction provided exits to early investors WestBridge Capital Partners, Tiger Global and the International Finance Corporation (IFC); Indecomm serves clients in mortgage, healthcare and banking and has roughly 3,500 employees across 21 locations.

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