TPG has invested $360 million in F ractal, a global provider of artificial intelligence and advanced analytics solutions. The transaction is expected to close by the first quarter of 2022. Additional terms were not disclosed.

“We continue to see great momentum in how clients are leveraging AIto accelerate digital transformation. Fractal is building a great workplace and aninnovative culture that’s driving significant client outcomes through our ‘user focused, decision-backwards’ approach to solving problems,” said Srikanth Velamakanni, Co-founder & Group CEO, Fractal.

Pranay Agrawal, Co-founder & CEO, Fractal, said: “The demand for AI is surging across the enterprise. Our AI solutions and products, along with our globally recognized team of experts, empower these organizations to realize and maximize their full potential. Apax has been a great partner to us as we have worked to grow our business, providing valuable insights from their tech experience, operational leadership, and access to their unique network.As we continue to build upon this foundation,the investment from TPG will accelerate our ability to scale and meet this rising demand globally.”

Founded in Mumbai, Fractal has more than 3,500 employees across 16 global locations, including the United States, UK, Ukraine, India, Singapore, and Australia.

As part of the transaction, TPG’s Puneet Bhatia and Vivek Mohan will join Fractal’s board of directors. All current directors, including Gavin Patterson, Rohan Haldea, Shashank Singh, and Gulu Mirchandani will continue to serve on the company’s board. Both TPG and APAX will be minority shareholders in the company.

TPG is a leading investor in software and enterprise technology with extensive experience partnering with the world’s top AI solutions, business analytics, and data processing companies. Select current and past investments include C3 AI,, LLamasoft, MX, Noodle Analytics, and Onfido.