Friday, February 15, 2008

Bangalore Based Ikya Human Capital Solutions Receives US$8 million from India Equity Partners

Ikya Human Capital Solutions Pvt Ltd, a Bangalore-based integrated HR solutions company has received a funding of US $ 8 million from India Equity Partners (IEP), a leading private equity fund focused on India.
Speaking on the strategic investment, Ramesh Hande, Chief Executive Officer, Ikya, said, “We are excited about India Equity Partners’ strategic and value added investment approach and we are happy to partner with them. Ikya has the right strategy, resources and the will to become a leading HR services player, with comprehensive service offerings that include temporary and contract staffing, permanent recruitment, placement and career services and training”.

Gaurav Mathur, Managing Director, IEP, said, “We are convinced that Ikya is set on a fast growth trajectory. Ikya has the potential to become one of the largest players in the Indian HR solutions space. The strength of the management team combined with IEP’s ability to support them and the severe shortage of skilled available manpower across all sectors present a clear advantage for Ikya.”

About Ikya Human Capital Solutions Pvt. Ltd.
Ikya is a young Company in the Corporate HR services space set up by a team of senior professionals from the HR Services industry who also have rich experience in other domains including telecom, retail, banking, auto. Ikya’s bouquet of services spans the entire HR services space. Ikya will seek to create value through offering solutions in partnership with client organizations. The Company currently has 11 offices in 8 cities with its Corporate Office in Bangalore. Ikya is rolling out operations to 20 cities in the next few months. The Company’s human resource sourcing and training footprint will extend to more than 100 towns in the first phase.
About India Equity Partners
India Equity Partners is a long term, growth oriented private equity fund and is part of a pool of funds with more than US $ 2 billion of capital dedicated to real estate, public and private equity in India. IEP follows a fundamental research-driven, bottom-up investment philosophy with a focus on growth equity investing generating long term returns over a 4-7 year horizon. IEP aims to partner with outstanding entrepreneurs and management teams in fast growing sectors. IEP’s investments include Amtek India, Bharti Infratel, Mannapuram Group of Companies and Ocean Sparkle.

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