Private equity investor ChrysCapital Funds on Monday announced that it has onboarded former Larsen & Toubro Infotech (LTI) CEO and MD Sanjay Jalona as an operating partner for investments in the business services sector.
Jalona will be based out of the US and will be closely working with the advisory team led by Akshat Babbar in sourcing, identifying, evaluation, management and exit related activities.
Jalona brings over three decades of experience in the IT services sector, having led a transformation of LTI into a technology consulting and digital solutions company. He had also guided LTI through its IPO and under his leadership the company crossed $2 billion in revenue.
During his over six-year tenure at LTI, Jalona was regarded as a consistent performer by industry experts and analysts, having helped the company clock steady growth. He decided to quit LTI stating 'personal reasons' at the time of the announcement of LTI-Mindtree merger in May this year.
Kunal Shroff, managing partner at ChrysCapital, said, “Sanjay is one of the most admired and recognised CEOs and adds a wealth of global expertise and experience to the business services sector for ChrysCapital. Given his phenomenal track record and experience working with some of the largest IT services firms, he will play an instrumental role in helping accelerate the growth for the fund’s portfolio companies."
Jalona said, “During several years of interactions with ChrysCapital, I have come away thoroughly impressed with their focus, ability to spot trends early, and long-term horizon. I’m excited to partner with ChrysCapital and play a critical role in building the transformational companies of tomorrow.”
ChrysCapital currently has around $5 billion of assets under management across nine funds. The firm has made several investments in the IT sector including those in Infogain, LiquidHub, HCL Technologies, Infosys, LTI, Hexaware, Mphasis, KPIT, Cyient, SpectraMind, and NIIT.
Its current investments in business services include ResultsCX, Quest Global, and GeBBS Healthcare.
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