<article>The EQT Mid Market Fund (EQT Mid Market) has invested in Singapore-based <a style="color: #000080" href="http://www.indotcorp.com/" target="_blank">In.Corp Group</a>.
The founders and the existing management team, with co-founder and CEO <a style="color: #000080" href="https://sg.linkedin.com/in/atin-bhutani-90a07a37" target="_blank">Atin Bhutani</a> and COO <a style="color: #000080" href="https://sg.linkedin.com/in/satishbakhda" target="_blank">Satish Bakhda</a>, will continue to drive growth and development of corporate services firm In.Corp.</article>

The EQT Mid Market Fund (EQT Mid Market) has invested in Singapore-based <a style="color: #000080" href="http://www.indotcorp.com/" target="_blank">In.Corp Group</a>.
The founders and the existing management team, with co-founder and CEO <a style="color: #000080" href="https://sg.linkedin.com/in/atin-bhutani-90a07a37" target="_blank">Atin Bhutani</a> and COO <a style="color: #000080" href="https://sg.linkedin.com/in/satishbakhda" target="_blank">Satish Bakhda</a>, will continue to drive growth and development of corporate services firm In.Corp.
Speaking on the investment, <a style="color: #000080" href="http://www.bloomberg.com/research/stocks/private/person.asp?personId=79009618&amp;privcapId=106667&amp;previousCapId=106667&amp;previousTitle=EQT%20Partners%20AB" target="_blank">Chung Tak Wai</a>, Partner at EQT Partners and investment advisor to EQT Mid Market, said, “We are impressed by In.Corp’s highly entrepreneurial and ambitious founders, its market leadership position in the attractive corporate service space in Singapore, and its focus on delivering high quality services. EQT looks forward to deploying its global resources to support In.Corp’s growth and development strategy to realize its full potential.&#8221;
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Sweden-based <a style="color: #000080" href="https://www.eqt.se/" target="_blank">EQT</a> is a  European private equity (PE) group with approximately EUR 29 billion ($32.77 billion) in raised capital and a portfolio of companies in Europe, Asia and the US with total sales in excess of EUR 17 billion ($19.2 billion) to date.
In an interaction with DEALSTREETASIA, Bakhda shared that further developments would see them creating an ecosystem of services targeted of startups, with services ranging from advising them on structure to assisting them in corporate and regulatory compliance issues, as well as regional expansion. Speaking on the funds that EQT planned to deploy in the region, Bakhda shared: &#8220;All of their invested funds in In.Corp will be deployed in the Asia Pacific.&#8221;
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In.Corp Group, a Singapore-headquartered full-service corporate solutions provider specialising in corporate compliance, accounting, taxation, incorporation, and advisory services, was established via the merger of a number of corporate service providers in Singapore. <a href="http://www.rikvin.com" target="_blank">Rikvin</a>, which was one of the original companies merged into In.corp had two decades of successful operating history and more than 3000 customers
Through this combination, In.Corp is able to now offer a comprehensive suite of services ranging from entity incorporation to accounting, tax, company secretarial, compliance and other advisory services. According to the company, approximately 75 per cent of existing customers are from overseas. The majority of these are international firms establishing Singapore-based corporate entities.
Commenting on the transaction, Bhutani said: “We are excited to work with EQT and its global network of Industrial Advisors. With its industrial and operational growth-focused approach, EQT is an ideal partner for In.Corp as we continue to develop superior services to our clients and realize our vision of becoming a regional market leader offering integrated end-to-end corporate solutions to clients around the world.”
According to Bakhda, the firm will be working closely with In.Corp and EQT to further grow the combined businesses, with the aim of establishing a platform that can pursue a regional growth strategy.
Given the presence of a number of emerging markets and the growing volume of business ventures being formed across the Asia Pacific as the middle class of the region grows, it is likely that EQT is aiming to grow its exposure to the Asian market, given the catchment it provides, synchronising with the claims of a a person familiar with this development who shared that In.Corp Group plans to pursue an aggressive M&amp;A strategy as it pursues regional expansion.
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SG: EQT invests in In.Corp, sees consolidation of corporate service providers

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