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In AI boom, Everstone eyes SaaS firms
Mint Kolkata
|May 23, 2025
Everstone Capital expects to increase investments in software services companies as artificial intelligence-led disruption and a normalization in valuations create a larger pool of investible opportunities in India, top executives at the firm told Mint.
"While we have deployed a meaningful amount of capital in software, we are seeing more companies within the $30-70 million revenue mark in India that believe in measured growth with good economics and we will find more such assets to address that segment," Sandeep Singh, managing director at Everstone, said in an interview. He did not specify any companies.
The investment firm bought a majority stake in India-origin SaaS startup Wingify for about $200 million earlier this year. Wingify has an annual recurring revenue exceeding $50 million and gets about 90% of its revenue from the US and Europe.
This story is from the May 23, 2025 edition of Mint Kolkata.
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