TPG to invest $336 mn in Denodo
Fresh investment will be made through TPG Growth, the firm's middle market and growth equity platform, in Denodo’s Series B preferred equity
New Delhi: Data management company Denodo has announced it has raised $336 million from global alternative asset management firm TPG.
The fresh investment will be made through TPG Growth, the firm's middle market and growth equity platform, in Denodo’s Series B preferred equity.
The transaction, which includes both primary capital and a secondary sale of shares by existing investor HGGC, is expected to close in early October following customary regulatory approvals, the company said in a statement.
HGGC, which invested in Denodo’s Series A investment round in 2017, will remain a significant investor.
“Denodo’s unique data virtualisation software, which allows enterprises to create unified views of disparate data sources that can be queried easily without moving them, has powered impressive, profitable growth,” said Mike Zappert, Partner at TPG.