Hong Kong-based information technology (IT) service provider ITCS Group announced Wednesday that it has secured a strategic growth investment from Dymon Asia Private Equity (DAPE), the private equity arm of Singapore-based investment management firm Dymon Asia Capital.

Partnering with DAPE will enable ITCS to rapidly accelerate its growth to scale up the tech industry in Asia-Pacific over the next two to three years, ITCS said in a statement.

“Having built a successful business on the back of unparalleled expertise and experience in a competitive market where few firms of our size operate, we are enormously excited to partner with DAPE to progress towards the next milestone of expansion for ITCS. The group is now at the cusp of exponential growth, and we see a great opportunity to capitalize on the momentum we have created and propelling the industry forward by joining forces with a larger, more global strategic partner as we kickstart the year.

“We are eager to deliver on our goal to provide resilient enterprise technology solutions that allow both small and mid-size enterprises (SMEs) and global multinationals, to stop worrying about their tech infrastructure and focus on the things that matter – business capabilities and productivity,” said Daniel Kolbe, Founder and Group Chief Executive Officer of the ITCS Group.

Established in 2007, ITCS has executed digital transformation projects and managed IT solutions for global Fortune 500 clients including top-tier banks in Asia, Europe and the United States including four of the top ten investment banking groups globally. Since starting out as a tech-focused talent acquisition company in Hong Kong, ITCS has grown its operations across diverse service offerings from IT managed services to infrastructure virtualization, cloud office solutions, and IT consulting, support and regulatory advisory services, on the back of a successful track record, supported by its technology partners AWS, Microsoft, Cisco, and Duo.

At present, ITCS has a presence across seven global and regional markets, and is set to expand its footprint further into emerging markets in Asia Pacific (APAC) and the wider North America to support its key clients. By 2023, the company targets achieving $100 million in gross revenue from its managed services portfolio alone.

Last year, the group also launched their very first enterprise-IT-as-a-service product AnyWare, an all-inclusive cloud office solution built to support small, medium enterprises to large corporations. AnyWare is a complete cloud office solution that streamlines an organization’s cloud technology and business needs and optimizes workforce productivity. Enhanced with a fully integrated premium security system, a full suite of supported third-party cloud and collaborative productivity tools, and robust infrastructure that comprises of cloud migration solutions, data configuration, and VDI implementation, AnyWare embraces the new ‘work from anywhere’ hybrid workforce approach enabling efficiencies without geographical constraints.

In addition to growing its AnyWare product globally through ITCS’ partnerships, the group is also focused on enabling growth through its flagship IT training and coaching program The Olympian Academy, that equips return to work (RTW), diversity and inclusion (D&I), and the next generation of talents with the right technology skills, tools and experience needed to succeed in the workplace. The Olympian Academy, developed by the group, has been set into motion to train its teams and candidates in commercial IT skills allowing them to obtain accredited certifications from Amazon Web Services and Microsoft.

“Over the years, ITCS has evolved into a market disrupter in the IT solutions space and delivered complex IT solutions backed by continued innovation in a competitive market landscape dominated by major global IT firms. We are excited about our partnership with ITCS and looking forward to working with the management to scale greater heights together and support their growth into the next phase of their expansion journey,” said Gerald Chiu, Partner at DAPE.

DAPE is focused on making private equity investments in Southeast Asia. Dymon Asia Private Equity (S.E. Asia) Fund II achieved a final close of $450 million in commitments in April 2018. DAPE invests in companies in the lower mid-market space, or SME, in Southeast Asia. Investments are tailored to the needs of the companies with a strong focus on meeting long-term objectives.

DAPE manages more than $500 million across its private equity strategy and this investment further demonstrates its ambitions to back home-grown Asian companies in the technology services space to rival big-tech companies across the globe.

Hong Kong’s The Sandbox partners with Warner Music to create music-themed world in the metaverse