Prytek secures $107 million of growth capital from Davidson Kempner to support its expansion strategy

NEW YORK, Nov. 30, 2021 /PRNewswire/ -- Today, we announce that multinational group Prytek Holdings Pte. Ltd. ("Prytek" or the "Group") has secured a $107 million committed investment from certain affiliates of Davidson Kempner Capital Management LP ("Davidson Kempner"), as it continues its rapid growth trajectory.  A representative of Davidson Kempner will join Prytek's Board of Directors and Investment Committee.

Prytek is a "Corporate Investment Group", an innovative investment asset class combining (i) the building and management of operational divisions with a long-term goal of building legacy assets, alongside (ii) investing in a large number of high-growth technology start-ups targeted for a medium-term hold period. Prytek's operational divisions build managed services and "infrastructure-&-operation-as-a-service" solutions that are powered by the software of the technology start-ups.  Prytek seeks to drive meaningful industry impact in each sector it operates by building value supply-chains within the Group, where each company adds a new entrepreneur and complementary solutions into the ecosystem. Prytek focuses on several industry sectors including fintech (through its financial services division Delta Capita), cyber and digital transformation training, HR-tech and cybersecurity.

With this latest capital raise, Prytek will continue to accelerate its ambitious growth strategy. The investment from Davidson Kempner will be used to accelerate the growth of ThriveDX, a leading Cyber and IT education platform, expand the financial services division anchored by Delta Capita and fund other managed service operations in the Group.

Davidson Kempner is a global institutional investment management firm with more than 38 years of experience and a focus on fundamental investing with a multi-strategy approach.  The firm has more than $37 billion in assets under management with offices in New York, Philadelphia, London, Dublin, Hong Kong and Shenzhen.

Andrey Yashunsky Prytek's Co-Chief Executive Officer and Co-Founder stated: "Our entire team, including the founders, Igor Rybakov and I, are excited to have Davidson Kempner as an investment partner in Prytek, which aims to transform the lives of millions of people around the world by building technologies that are industry leading and cutting-edge. This new capital will help Prytek increase the value of its assets, accelerate Prytek's global expansion, and boost our organic and M&A activities."

Arnon Shiboleth, Prytek's Co-Chief Executive Officer, stated: "We see Davidson Kempner's addition to Prytek's shareholder base, Investment Committee and board of directors as an important milestone in the growth of our business. This new capital will further support organic and M&A-driven growth initiatives across several of our divisions and companies. This is a critical step forward for our business and will position the company well for additional near-term growth opportunities and a potential public listing."

About Prytek

Prytek was founded in 2017 by Igor Rybakov and Andrey Yashunsky and is chaired by Yair Seroussi. Prytek builds vertical integrated supply-chain-solutions for universities and financial institutions, and by that, creates impact across industries. Prytek has rapidly grown into a multinational technology group with a focus on building and investing in technologies and delivering managed services in the Financial Services, Cyber & Tech Education, and HR sectors. Prytek has invested over $350 million in companies and technologies globally, services more than 250 clients and maintains offices in eight locations worldwide. Prytek has experienced a 200% growth over the last year and plans to go public in the medium term.

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