Taiwan-based Zoyi Capital has completed a $20 million investment in Camelot Information Systems, a software and information services company in China, according to a statement.
Beijing-based Camelot is the largest domestic provider of SAP-based enterprise resource planning services in China, according to the statement.
Zoyi’s investment coincides with a planned founder-led merger and privatisation of Camelot from the NYSE.
“Zoyi Capital has a long relationship with Camelot’s chairman, president and CFO, dating back to 2006, which led to early discussions between the two parties to partner together on the take private of Camelot,” the statement said.
Andrew Kuo, founding partner and CEO of Zoyi Capital, added: “We believe as a broad-based player that provides various solutions to customers in a wide range of verticals, Camelot is well positioned to capture the secular growth opportunity in China’s large and underpenetrated IT services market.”
Earlier this month, Zoyi announced a $30 million – $40 million investment in Pink Lady, a manufacturer of highend women’s apparel in China, Private Equity International reported earlier.
Zoyi Capital is a Greater China-focused fund, investing in mid-cap companies in the China and Taiwan markets.
The firm was founded by three Taiwanese: Andrew Kuo, former vice chairman of Blackstone Greater China, Pei Pei Yu, former managing director at Goldman Sachs PIA Asia and Eric Chen, previously president of Greater China at Temasek subsidiary Fullerton Financial.
In August 2013, Zoyi launched its debut fund with a target of $300 million and a hard cap of $500 million, according to PEI’s Research & Analytics division.