Private equity fund Anacacia Capital has joined the investor base of language technology company Appen.
This takes the number of businesses sitting in the Anacacia Partnership private equity fund to four.
The other businesses are Norwest Productions, Lomb Scientific and Home Appliances.
While Anacacia Capital managing director Jeremy Samuel would not reveal how much the mandate was worth, he said the private equity fund typically invested in businesses with revenues of between $10 million and $100 million.
The addition of Anacacia Capital will support further growth of Appen's language technology services into new markets, segments and products.
"We are pleased to welcome Anacacia Capital onto the share register alongside us. Anacacia will strengthen our non-executive board as we position the business for further growth," Appen director Chris Vonwiller said.
In late 2007, the Private Capital Group, which is backed by 10 industry superannuation funds, including Sunsuper, BUSSQ and Club Super, invested $8 million in the Anacacia Capital Fund.
A range of other superannuation funds and high net worth individuals are also investors in the closed fund.
