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True North, a private equity firm on Wednesday, has partnered with iLink Digital, a global provider of next-generation digital transformation solutions, along with its co-founders, Sree Balaji and Sridhar Mahadevan. As part of the transaction, True North will invest up to $75 million over a period of 12 months for a minority stake in the company.

This investment has been facilitated through True North’s Fund VI, marking the fund’s third investment in the technology services sector.

Lincoln International acted as the financial advisor to iLink Digital for the capital raise.

According to the company statement, iLink will utilise the funds from the investment to drive its M&A agenda which is aimed at enhancing its deep domain and technology expertise. A portion of the proceeds will also be used towards initiatives aimed at furthering iLink’s engagement with its employees and clients.

“iLink Digital perfectly reflects our fundamental approach to investing in digital product engineering companies. We want to invest in fast-growing, highly differentiated, innovation-led, globally present and platform-focused digital engineering companies,” said Prasad Thrikutam, Partner, True North.

“iLink, from its inception, has built deep technology expertise by carefully curating and nurturing deep partnerships with leading tech platforms, delivering exceptional value to its global clients,” he added.

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Founded in 2002, iLink Digital is a digital transformation service company that aids organisations in utilising technology to enhance commercial outcomes. iLink Digital offers end-to-end solutions spanning product engineering, data engineering and analytics, cloud operations and services, business applications consulting, and RPA consulting.

“We arrived at this decision to partner with True North after a careful evaluation process involving multiple parties and we believe that True North is ideally positioned to help us in the next phase of our journey. Their deep knowledge of the technology sector, efforts to assist companies with M&A, and their ability to help us with our long-term objective of launching a successful IPO in the Indian public markets in the coming years were decisive factors in our decision, added, Sree Balaji, CEO of iLink.