|Deal Size:||$74 million sale of majority equity stake|
|About the client:||Ace2Three is a leading online skill based gaming platform in India, serving over 8 million customers|
|About the transaction:||Sale of a majority equity stake in Head Infotech Pvt Ltd, the operator of Ace2Three.com, to funds managed by Clairvest Group Inc (TSX:CVG), a Toronto-based private equity house.
Akur Capital ran an extensive process to identify and deliver a successful exit for a majority of shareholders. Akur secured a 20x exit multiple for Matrix Partners India, one of its most successful investments to date.
The consideration of $74m represents one of the largest ever transactions in the online gaming space in India.
Deepak Gullapalli, Chief Executive of Head Infotech said:
Chris is focused on listed closed-ended funds, specialising in both equity and debt capital fundraising.
He has over 16 years’ experience in both sales and research. With relationships across many of the large institutional investors in the sector, he has worked across IPOs, secondary fundraisings, placings and sales.
He began his career in the City as an investment funds analyst at Credit Lyonnais in 1999, and has subsequently held positions at Lazard Panmure Gordon, Arbuthnot Securities, and most recently as a specialist salesman within the investment funds team at Westhouse Securities. He is focused on private and public real estate and REITs, infrastructure and utilities, emerging markets, private equity and alternatives.
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