Global private equity (PE) firm Investcorp has acquired Unilog – a software-as-a-service (SaaS) based e-commerce solutions provider to small and medium enterprises (SMEs) – for an undisclosed sum.

The PE firm said on Thursday it has entered into an agreement to buy Unilog, which is headquartered in the US and has international headquarters in Bengaluru, that helps distributors, manufacturers, and wholesalers increase online sales, reduce the cost to serve, and enhance their digital channel. “Unilog presents an attractive opportunity, as it operates in a large and growing addressable market driven by e-commerce adoption, which has only been further accelerated amidst COVID-19,” said Gaurav Sharma, Head of Private Equity, Investcorp India. Unilog was Investcorp’s 10th investment in the Indian market over the last four years.

So far, Investcorp has made around 200 PE investments in the US, Europe, the Middle East, and North Africa region and Asia, across multiple sectors including software, data analytics, cybersecurity, and payments. In India, it had made investments in mid-market companies and focuses on sectors including consumer tech, healthcare, financial services, and technology segments. InCred, ASG, Zolo, Citykart, Intergrow Brands, Bewakoof.com, NephroPlus, Freshtohome, and XpressBees were other companies that were backed by Investcorp. “The focus is on targeting first-generation entrepreneurs scaling up businesses with asset-light models and proven unit economics,” the company said. It had $32.2 billion in total assets under management as of June 30, 2020.