Affirma Capital buys stake in Prodapt Solutions for Rs 500 cr

Private equity fund Affirma Capital has invested Rs 500 crore for a minority stake in Chennai-headquartered software company Prodapt Solutions, sources said on Monday. Affirma is a Singapore-based fund which is operated by the management team from Standard Chartered Private Equity, while Prodapt has over 2,000 employees.

In the last decade that it has been operational, Prodapt has developed a sharp focus on the telecom and digital service provider (DSP) industry, an official statement from Affirma said. This the fourth investment for the fund in India, it said, adding that earlier bets include Tirupati Medicare (USD 50 million), Northern Arc Capital (USD 130 million along with IIFL) and Travel Boutique Online (USD 50 million).

"The global telco and digital media industry is changing rapidly and offers a significant growth opportunity, and Prodapt is uniquely positioned to help its clients manage this transition and growth," Affirma's co-founder and head of India, Udai Dhawan, said..