Xcelerate, a Singapore-headquartered provider of governance, risk and compliance (GRC) solutions to industry sectors including capital markets, has secured an equity funding round with participation from funds managed by Altair Capital and Exacta Capital Partners. Co-founders, management and select existing shareholders of Xcelerate also participated in the funding, which will be used to finance acquisitions in APAC and other regions.
Xcelerate plans to create a regional platform offering software solutions and services catering to the Governance Risk & Compliance (GRC) and Environmental, Social & Governance (ESG) requirements of organisations operating across APAC and other regions. It aims to bring global solutions, tools and technologies together and build highly qualified and experienced teams through a roll-up strategy of acquisitions and partnerships to create comprehensive solutions.
Gary Ng, partner at Altair Capital, says: “We believe the GRC and ESG segment will experience high growth as organisations increase spending and seek the right partners to help them navigate increasingly complex regulations in Asia. The Xcelerate co-founders have a proven track record and the ability to transform Xcelerate into a leading GRC and ESG solutions platform.”
Madhujeet Chimni, co-founder of Xcelerate, concurs: “We believe there is a strong need for a regional player offering GRC and ESG solutions. As we build on our technologies, solutions and teams in APAC and other regions, we are pleased to partner Altair Capital and Exacta Capital Partners, both of which have significant experience in the ASEAN region.”
Altair Capital is a private equity firm focused on buyouts or significant minority investments in quality companies across Southeast Asia, and is the ASEAN affiliate of Polaris Capital Group, a leading buyout group in Japan. Exacta Capital Partners is a Southeast Asia focused lower-middle market private equity fund manager and has been in the market since 2013.
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