LONDON: Apax Global Alpha Limited (AGA), the closed-ended investment company, expects to invest approximately €2.5m in greytHR on a look-through basis.

On 5 August 2024, the Apax Digital Fund II (“ADF II”), in which AGA is a limited partner, announced a strategic investment in greytHR, a leading full suite Human Resource Management Software (“HRMS”) platform in India.

The transaction is due to close in Q3 2024, subject to customary closing conditions.

Founded in Bengaluru in 1994, greytHR offers productivity tools for better people management, simpler HR processes, and professional delivery of HR and payroll services.

greytHR software is currently used by over 23,000 organisations and 2.3 million users across India, Middle East, and South-East Asia.

The Apax Funds have extensive experience partnering with businesses in the software space, including the HRMS and payroll vertical from prior investments in Paycor and Zellis. With greytHR, the investment thesis is to work with the team to further enhance its product portfolio, including adding more strategic HR modules focused on recruitment and talent management, as well as support the company in accelerating growth and expanding into new customer segments, cementing its position as a market leader.

AGA, whose shares are listed on the London Stock Exchange, provides investors with access to a diversified portfolio of private equity funds advised by Apax as well as a smaller portfolio of mostly debt investments. In 2021, AGA made a commitment of $90m to ADF II.

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