Everstone
Everstone Capital is a Singapore-headquartered private equity firm making control-oriented mid-market growth investments across Healthcare, Technology, Consumer, Financial Services, and Industrials, with over $8 billion in AUM and a focus on businesses tied to India and Southeast Asia.
- Company typePrivate
- Founded2002
- HeadquartersSingapore, Singapore
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Everstone does
Everstone Capital is the Singapore-headquartered private equity arm of Everstone Group, founded in 2002 by former Goldman Sachs Managing Directors Sameer Sain and Atul Kapur. The firm pursues a control-oriented, mid-market growth investment strategy focused on businesses with a nexus to India and Southeast Asia, deploying capital across five primary verticals: Healthcare and Pharmaceuticals, Technology Services, Consumer, Financial Services, and Industrials. With over $8 billion in assets under management and more than $3.2 billion in private equity capital deployed, Everstone operates from 7 offices globally (Singapore, Mumbai, New Delhi, Gurgaon, New York, Dubai, Mauritius) with approximately 100 professionals supported by a network of operating partners and senior advisors.
The firm generates revenue through management fees on committed capital and carried interest on investment realizations, with management fees serving as the recurring base and carry providing upside tied to exits such as Omega Healthcare, SJS Enterprises, and Restaurant Brands Asia in 2025-2026. Recent investment activity demonstrates an active platform-building strategy: the $270 million Apothecon investment combined India-based Apothecon with US-based Navinta into a regulated-markets specialty formulations platform, the acquisition of Qlar Group from Blackstone extended the portfolio into European industrial equipment, and the $200 million Wingify investment (merged with AB Tasty in January 2026) created a digital experience optimization business with over $100 million in annual revenue. Sector specialization is reinforced by dedicated vertical leadership, including MDs for healthcare, technology services, consumer, and industrials, and by repeat institutional capital partnerships with Ontario Teachers' Pension Plan, IFC, and Goldman Sachs Asset Management.
Everstone firmographics
Firmographics- Name
- Everstone
- Legal name
- Everstone Capital Asia Pte. Ltd.
- Website
- https://everstonecapital.com
- Company type
- Private
- Founded year
- 2002
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Everstone Capital is a Singapore-headquartered private equity firm making control-oriented mid-market growth investments across Healthcare, Technology, Consumer, Financial Services, and Industrials, with over $8 billion in AUM and a focus on businesses tied to India and Southeast Asia.
- Ownership category
- akta.pro rank
Everstone industry classification
Industry- Product category
- Private Equity / Investment Management
- NAICS
- Portfolio Management and Investment Advice (52394)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Roll-Up / Buy-and-Build ETA (FSANALAF)
- akta.pro secondary industries
- Specialized/Niche-Vertical RIAs (e.g., Medical, Tech, Executives, Athletes) (FSAAACAL), Portfolio Construction & Asset Allocation Advisory (FSAEAAAC)
Keywords
Where Everstone is headquartered
LocationHeadquarters
- HQ city
- Singapore
- HQ country
- Singapore
- HQ region
- Asia
Offices7 records
Markets served
Everstone business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D
Revenue model
- Private Equity Management Fees and Carried Interest: Generates returns through private equity investment management including management fees on deployed capital and carried interest (performance fees) on investment gains. Invests across Technology Services, Healthcare/Pharma, Consumer, Financial Services, and Industrials sectors with over US$3.2 billion in private equity deployed.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
Everstone product offering
Product offeringCore offering
Everstone is a Singapore-headquartered private equity firm that invests across India and Southeast Asia, deploying over US$3.2 billion in private equity capital into mid-market companies across healthcare, technology, consumer, financial services, and industrials sectors, with total assets under management exceeding USD 8 billion.
Product overview
Everstone Capital is a Singapore-headquartered private equity firm that invests in mid-market businesses with a nexus to India and Southeast Asia. The firm does not operate its own product platform; however, its portfolio includes Wingify, the parent company of VWO (Visual Website Optimizer), a leading India-origin SaaS product. VWO is a digital experience optimization platform that combines AI-led experimentation, real-time personalization, and behavioral analytics. Following Everstone's majority stake acquisition in January 2025 and subsequent merger with France-based AB Tasty in January 2026, the combined entity operates as a unified digital experience optimization platform serving 4,000+ customers globally with over $100 million in annual revenue.
Differentiator
Problem solved
Functional benefit
Products and services
- Private Equity Funds
Companies that use Everstone
Customer profileNamed customers8 records
Segments5 records
Ideal customer profiles2 records
Everstone technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Everstone partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- AB TastycoreEverstone Capital merged its portfolio company VWO (Wingify) with France-based AB Tasty, creating a combined digital experience optimization platform with over $100 million in annual revenue and 4,000+ customers. Everstone invested additional capital to remain largest institutional shareholder. VWO co-founder Sparsh Gupta became CEO of merged entity.
Scale indicators5 records
Recent moves6 records
Expansion highlights6 records
Everstone competitors and assessment
Company assessmentDirect peers
- ChrysCapital: India-focused private equity firm investing in control and growth deals across consumer, financial services, healthcare and industrials. Closest direct comparable to Everstone in mandate, geography and mid-market cheque size.
- True North (India): India-dedicated mid-market private equity firm making control investments in growth businesses. Comparable to Everstone in India focus, control orientation and sector breadth across consumer, financial services and healthcare.
Broad incumbents
- Advent International: Global private equity firm with substantial India and Southeast Asia exposure. Competes with Everstone on mid-to-large control deals and shares overlap in financial services, healthcare and industrials.
- Blackstone India: Global alternative asset manager with a large India private equity franchise. Directly overlapped with Everstone as the seller of Qlar Group and as a competitor for control deals across Indian industrials and consumer.
- Actis: Global private equity firm focused on emerging markets including India and Southeast Asia. Direct overlap with Everstone's healthcare, financial services and consumer mandates in EM.
- Carlyle Asia: Global private equity firm with a significant Asia-Pacific platform covering India, Southeast Asia and cross-border Asia-US deals. Competes with Everstone for control and growth capital across consumer, healthcare and industrials.
- Bain Capital Asia: Global private equity manager with active Asia and India operations spanning technology, healthcare and financial services. Overlaps with Everstone on cross-border control and growth transactions.
- Warburg Pincus India: Global growth investor with a long-standing India franchise spanning financial services, technology, consumer and healthcare. Direct competitor to Everstone on growth-stage control deals in India.
- KKR India: Global private equity incumbent with a dedicated India platform deploying control capital across consumer, financial services, technology and healthcare. Competes with Everstone on larger Indian mid-market and growth deals.
Regional players
- Navis Capital Partners: Southeast Asia-focused private equity firm making control investments across the region. Operates in Everstone's core geography with a comparable mid-market control mandate but with a stronger SEA tilt than India.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Everstone social profiles
Digital presenceEverstone financial estimates
Financial estimateRevenue estimate
Valuation estimate
Everstone leadership team
Management profileNumber of profiles
Everstone subsidiaries and ownership
Company hierarchySubsidiaries5 records
Everstone funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Everstone M&A and investment
M&A and investmentM&A16 records
Investments20 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Everstone
What does Everstone do?
Everstone is a Singapore-headquartered private equity firm that invests across India and Southeast Asia, deploying over US$3.2 billion in private equity capital into mid-market companies across healthcare, technology, consumer, financial services, and industrials sectors, with total assets under management exceeding USD 8 billion.
Is Everstone a public or private company?
Everstone is a private company. It is classified as unknown and is currently operating.
When was Everstone founded?
Everstone was founded in 2002. It employs 51 to 100 people.
Where is Everstone based?
Everstone is headquartered in Singapore, Singapore, in the Asia region.
How does Everstone make money?
One revenue line is on record: private Equity Management Fees and Carried Interest.
Who are Everstone's main competitors?
Direct peers on record are ChrysCapital and True North (India). Broad incumbents are Advent International, Blackstone India, Actis, Carlyle Asia, Bain Capital Asia, Warburg Pincus India and KKR India. Navis Capital Partners is listed as a regional player.
Does Everstone have an API?
No public API is recorded for Everstone.
What industry is Everstone in?
Everstone's product category is Private Equity / Investment Management. Its primary akta.pro industry code is FSANALAF, Roll-Up / Buy-and-Build ETA, with a secondary code of FSAAACAL, Specialized/Niche-Vertical RIAs (e.g., Medical, Tech, Executives, Athletes). Its NAICS code is 52394 and its SIC code is 6282.