Investcorp Technology Partners, the technology private equity arm of alternative investment manager Investcorp, announced that its Fund III has agreed to make an initial investment of $35m to acquire an equity stake in CSIdentity, an Austin, Texas-based provider of identity theft and fraud protection services.
Commenting on the investment, CSIdentity CEO, Bill Morrow, was reported to say: “Our partnership with Investcorp not only validates our position as the technology leader, but fuels our growth trajectory as we further penetrate the U.S. market and expand globally, leveraging Investcorp’s presence and relationships around the world”.
In conjunction with the financing, Alex Guira, co-head of Investcorp’s technology investment business, will join the CSIdentity board along with London-based Investcorp colleague Dirk Schmucking.
“CSIdentity is a potentially huge growth story with an ambitious product roadmap”, Guira said.
“In addition to expanding its global footprint, we plan to grow its research and development program to ensure we retain our technological superiority”, he added.