BENGALURU: Former CEO and MD of Larsen & Toubro Infotech (LTI) Sanjay Jalona has joined private equity investor ChrysCapital Funds as an operating partner for investments in the business services sector.
Jalona moved on from LTI when L&T announced the merger of its group companies- LTI and Mindtree. The new entity called LTIMindtree will be led by Mindtree CEO Debashis Chatterjee.
Jalona will be based out of the US, and will work closely with the advisory team, led by Akshat Babbar, in the sourcing, identifying, evaluation, management and exit-related activities in relation to investments made in this sector, ChrysCapital said.
Sanjay Jalona has over three decades of experience in the IT services industry. He guided LTI through one of the sector’s most successful IPOs in a decade and under his leadership, the company crossed $2 billion in revenue. Prior to LTI, he held leadership roles at Infosys, Gemplus and Wipro.
Kunal Shroff, Managing Partner, 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."
Launched in 1999, the ChrysCapital group has approximately $5 billion of assets under management across nine funds. Its marquee investors include institutions with a long-term horizon such as sovereign wealth funds, endowments, pension funds, fund of funds etc.
ChrysCapital's current investments in Business Services include ResultsCX, Quest Global and GeBBS Healthcare. Its past investments in the sector include Infogain, LiquidHub, HCL Technologies, Infosys, LTI, Hexaware, Mphasis, KPIT, Cyient, SpectraMind and NIIT.