Mid-sized private equity firm True North has agreed to invest $75 million for a minority stake in US-based digital transformation solutions provider iLink Digital.The investment, made by True North’s $600-million (around Rs 4,200 crore) Fund VI, is aimed at expanding iLink Digital’s organic and inorganic growth in the IT services space.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Digital TransformationVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitNorthwestern UniversityKellogg Post Graduate Certificate in Product ManagementVisitIndian School of BusinessISB Product ManagementVisit“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,” True North said in a statement.The investment also marks the fund's third investment in the technology services sector after picking up minority stakes in US firm Accion Labs in September last year and Singapore-based Quest Global in 2021.iLink is a digital transformation services company aimed at driving digital innovation through its consulting and technology services and solutions.Powered ByVideo Player is loading.Play VideoPlaySkip BackwardMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently behind liveLIVERemaining Time -0:00 1xPlayback RateChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions and subtitles off, selectedAudio TrackPicture-in-PictureFullscreenThis is a modal window.No compatible source was found for this media.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanOpacityOpaqueSemi-TransparentText BackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanOpacityOpaqueSemi-TransparentTransparentCaption Area BackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanOpacityTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.AdvertisementThe Seattle-headquartered firm was co-founded by first-generation entrepreneurs Sree Balaji and Sridhar Mahadevan in 2002. It will utilise the proceeds from the investment to drive its mergers and acquisitions while a portion of it will go towards initiatives aimed at furthering iLink’s employees and client base.Discover the stories of your interestBlockchain5 StoriesCyber-safety7 StoriesFintech9 StoriesE-comm9 StoriesML8 StoriesEdtech6 StoriesWith a 2,500 strong workforce in consulting and digital engineering skills, iLink has 18 offices across eight countries including USA, India, Mexico, Portugal, Canada, UAE, Malaysia, and Singapore.“We want to invest in fast-growing, highly differentiated, innovation-led, globally present and platform-focused digital engineering companies. We believe that the 2020s will breed a new set of challengers and future leaders in the IT tech services landscape; ones who will challenge scale with speed, and incumbency with innovation..,” said Prasad Thrikutam, partner, True North.Lincoln International acted as the financial advisor to iLink Digital for this capital-raise process.