Taiwanese private equity firm Zoyi Capital has backed China-based enterprise resource planning (ERP) specialist Camelot.
Camelot is China’s largest provider of SAP-based ERP services and also ranks first in several types of services including teller systems and IT testing.
Zoyi founding partner and CEO Andrew Kuo said, “With this investment, we are excited to increase Zoyi Capital’s footprint in the Chinese IT services sector.
“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.”
Last August it was reported that Zoyi was looking to raise $300m for its debut fund.
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