The Ontario Teachers’ Pension Plan’s late-stage venture and growth investment arm is investing $80 million in India-based financial software company Perfios.
The company serves the banking, financial service and insurance industries across 18 countries and will use the investment to expand its international footprint. As part of the transaction, Darius Vakil, a director at Teachers’ Venture Growth, will join Perfios’ board.
“Our investment in Perfios is in line with our strategy of backing seasoned and visionary management teams in businesses with strong growth potential and a clear competitive edge,” said Deepak Dara, senior managing director and head of India at the Ontario Teachers’.
In other news, the Ontario Teachers’ is investing in two Germany-based logistics assets through its joint venture with Boreal IM. The assets include a 37,000 square-metre warehouse and a 27,000 square-metre warehouse that’s set to be completed by the first quarter of 2025.
“We are pleased to see the continued growth of the portfolio in Germany, a key market for us,” said Jenny Hammarlund, senior managing director of real estate at the Ontario Teachers’, in a press release. “These assets represent the JV’s success in finding and executing outsized opportunities for value creation in prime markets in Europe.”
Source: Benefits Canada
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