Private equity firm ChrysCapital, which has in the past made tons of money from companies such as HCL Technologies, Infosys, L&T Infotech, Hexaware and Mphasis and still has software companies in its portfolio, has named a new operating partner for the IT services business.
The firm has named Sanjay Jalona, former chief of L&T Infotech, as an operating partner for investments in the business services sector.
Jalona comes with more than three decades of experience in the IT services industry. The BITS Pilani graduate started his career with Wipro and moved for a short stint at Gemplus.
He then moved to Infosys and stayed with the firm for over 15 years. His last assignment at the company was as the head of the manufacturing business segment, which accounted for nearly a quarter of Infosys’ revenues.
New York-based Jalona moved to L&T Infotech in 2015 as its chief executive officer. He quit the firm last month.
“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,” said Kunal Shroff, managing partner, ChrysCapital.
Created over two decades ago, ChrysCapital has around $5 billion of assets under management across nine funds.
ChrysCapital lists ResultsCX, Quest Global and GeBBS Healthcare among its current investments in business services. It has also backed companies such as KPIT, Cyient, SpectraMind, NIIT, Infogain and LiquidHub.
The PE firm is separately raising India’s largest private equity fund.