Tessolve raises $150 mn from TPG to expand semiconductor engineering

Tessolve, a semiconductor engineering services company majority owned by Hero Electronix, has raised $150 million from alternative asset management firm TPG.

The fund will be used to strengthen global delivery centres, expand advanced test labs and accelerate strategic acquisitions as the company looks to consolidate its position as a key enabler of the global and Indian semiconductor ecosystem.

TPG invested through TPG Growth, the firm’s middle market and growth equity platform. It was not immediately clear what stake TPG received in exchange for the investment.

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