Private equity firm True North has announced a strategic partnership with iLink Digital, a global provider of next-generation digital transformation solutions. True North plans to invest up to $75 million over the course of 12 months to acquire a minority stake in iLink Digital. The investment will be facilitated through True North’s Fund VI, according to a statement released by the company.
Prasad Thrikutam, a partner at True North, expressed confidence in the partnership, stating that iLink Digital aligns perfectly with True North’s investment approach in digital product engineering companies. He emphasized iLink’s deep technology expertise and its track record of building strong partnerships with leading tech platforms, which have delivered exceptional value to its global clients.
iLink Digital, founded in 2002 by Indian-origin entrepreneurs Sree Balaji and Shridhar Mahadevan, is headquartered in the United States. The company boasts a substantial workforce of 2,500 professionals specializing in consulting and digital engineering, with a presence in 18 offices across eight countries.
This investment marks True North’s third foray into the technology sector, underscoring the firm’s optimism about the future of the IT services industry. True North aims to contribute to the development of the next generation of globally respected IT service companies.
iLink Digital has a strong track record of providing consulting and technology solutions to Fortune 1000 clients. The company has cultivated robust affiliated partnerships with major enterprise technology players such as Microsoft, Salesforce, AWS, UiPath, Outsystems, Databricks, Confluent, and others.
The capital raised through this investment will be utilized by iLink Digital to advance its mergers and acquisitions (M&A) agenda, with a focus on enhancing its domain expertise and technology capabilities. Additionally, a portion of the proceeds will be allocated to initiatives aimed at strengthening iLink’s engagement with its two primary growth pillars: its employees and clients.
Sree Balaji, CEO of iLink, explained the decision to partner with True North as the result of a meticulous evaluation process involving multiple parties. He highlighted True North’s deep knowledge of the technology sector, its efforts to support companies in M&A activities, and its ability to assist iLink in its long-term objective of launching a successful IPO in the Indian public markets in the coming years.
Lincoln International served as the financial advisor to iLink Digital for this capital-raising process. True North’s investment in iLink Digital represents another significant addition to its portfolio, with previous investments in Accion Labs and Quest Global from its sixth fund.
