Apax Global Alpha Limited has announced its plans to invest approximately €2.5m in greytHR, a leading Human Resource Management Software platform in India. The investment is part of the Apax Digital Fund II's strategic investment in greytHR, which is expected to close in Q3 2024. Founded in 1994, greytHR offers productivity tools for people management, HR processes, and payroll services, currently serving over 23,000 organizations and 2.3 million users across India, the Middle East, and South-East Asia.
The Apax Funds have a strong track record in the software space, particularly in HRMS and payroll, and aim to enhance greytHR's product portfolio by adding strategic HR modules focused on recruitment and talent management. The investment also seeks to support the company in accelerating growth and expanding into new customer segments, solidifying its position as a market leader.
Apax Global Alpha Limited, listed on the London Stock Exchange, provides investors with access to a diversified portfolio of private equity funds advised by Apax, including a commitment of $90m to ADF II in 2021. The expected investment in greytHR is calculated based on the look-through positions of ADF II's overall investment and translated based on the latest exchange rates available.
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