Fractal Analytics, an AI firm, raised $150 million in a secondary transaction from investors like Trust Investment Advisors and White Oak Capital, valuing the company at $2.44 billion.
The funds were raised through the sale of a 6% stake by the existing investor Apax Partners to buyers including multiple funds advised by Trust Investment Advisors, White Oak Capital Management, Gaja Capital, and Neo Asset Management.
Fractal Analytics offers AI and analytics services to Fortune 500 companies in various sectors and owns products like Asper.ai, Analytics Vidhya, and Qure.ai.
The transaction was facilitated by Saraf and Partners advising the investors, AZB & Partners and Kirkland & Ellis advising Apax, and Shardul Amarchand Mangaldas & Co. representing Fractal.