The Resource Group

What The Resource Group does

The Resource Group (TRG Holdings LLC) is a private investment holding company founded in 2002 and headquartered at 1717 Pennsylvania Avenue NW, Washington, DC, that specializes in software, information services, and technology-enabled services, with a pronounced focus on the business process outsourcing sector. TRG runs two complementary investment strategies: a Growth strategy that takes stakes in mature ventures on the brink of expansion, and a Venture strategy that seeds startups with capital alongside engineering and operations support. The firm operates a distributed model with US presence in Washington, DC and San Francisco, an offshore operating backbone in Pakistan through wholly owned TRG Pakistan Limited, and operating geographies extending into the UAE.

TRG's portfolio spans multiple verticals and stages, combining private operating companies with at least one publicly listed asset. Flagship holdings include ibex Limited (NASDAQ: IBEX), a customer experience and BPO services provider chaired by TRG CEO Mohammed Khaishgi; Afiniti, an AI-based behavior-pairing technology company; e-TeleQuote Insurance; iSKY; and a controlling interest in GeoWealth, a turnkey asset management platform for registered investment advisors held through affiliate The Globe Resources Group. The firm's revenue mechanics follow the standard private equity/venture construct—capital deployment, value creation through operational involvement and board governance, and exit or liquidity events—rather than subscription or product pricing. The firm has executed 25+ acquisitions and divestitures since 2002 and has demonstrated institutional capital access through a $42.5 million GeoWealth Series C expansion backed by Goldman Sachs, BlackRock, Apollo Global Management, J.P. Morgan Asset Management, and Kayne Anderson Capital Advisors.

The leadership team is small and concentrated (six senior executives), with prior tenure at World Bank IFC, J.P. Morgan, Morgan Stanley, Oracle, Align Technology, Goldman Sachs (as a deal counterparty), and Weil, Gotshal & Manges, providing TRG with M&A, capital markets, legal, and operational capabilities for portfolio construction and governance. Headcount is reported at 501-1000, reflecting operational subsidiaries in addition to the holding-company core.

Name

The Resource Group

Legal name

TRG Holdings LLC

Website

https://trgworld.com

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

501–1,000 employees

Short description

The Resource Group (TRG Holdings LLC) is a Washington, DC-based private investment holding company founded in 2002 that acquires and operates technology-enabled service and BPO businesses, with portfolio companies including ibex Limited (NASDAQ: IBEX), Afiniti, e-TeleQuote Insurance, iSKY, and GeoWealth.

Ownership category

akta.pro rank

Product category

Private Equity and Venture Capital

NAICS

Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Investment Advice (6282)

akta.pro primary industry

HoldCo / Permanent Capital ETA (FSANALAE)

Keywords

• Investment holding company
• Venture capital investments
• Growth equity investments
• Technology sector investing
• Portfolio management services

Headquarters

HQ city

Washington

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others, Marketing or Sales

Distribution channels1 record

Marketing channels1 record

Core offering

The Resource Group is a private investment holding company that acquires, invests in, and manages a portfolio of software, information services, and technology-enabled services companies. It pursues two distinct investment strategies: Growth (scaling mature ventures on the brink of expansion) and Venture (seeding startups with capital, engineering, and operations support). The firm provides board-level governance, M&A execution, and centralized finance shared services to its portfolio companies.

Product overview

The Resource Group (TRG) is an investment holding company specializing in software, information services, and technology-enabled services sectors. Rather than offering a unified product platform, TRG operates as a private equity and venture capital firm that acquires, invests in, and manages portfolio companies across technology sectors. The company pursues two investment strategies: Growth (acquiring stakes in mature ventures on the brink of expansion) and Venture (seeding startups with capital, engineering, and operations support). Notable portfolio companies include GeoWealth (turnkey asset management platform for RIAs), Afiniti (enterprise behavior-based pairing technology), e-TeleQuote Insurance, iSKY, and ibex Limited (NASDAQ: IBEX).

Differentiator

Problem solved

Functional benefit

Products and services

• Growth Investment Strategy Long-term capital and board-level partnership for mature technology and technology-enabled services companies on the brink of expansion. TRG provides strategic growth navigation, operational rigor, and a stake in flourishing enterprises.
• Venture Investment Strategy Seed-stage capital combined with engineering and operations support for early-stage technology and technology-enabled services startups. TRG provides not just capital but also operating resources to help build tomorrow's success stories.
• Portfolio Company Board Oversight Board-level governance and operational oversight services for TRG's portfolio companies, provided through representatives including Mohammed Khaishgi (Chairman of ibex Limited, board member of Afiniti Limited), Hasnain Aslam (boards of Afiniti, e-TeleQuote Insurance, iSKY), and Nadeem Elahi.
• Offshore Finance and Accounting Shared Services Centralized offshore F&A shared service center operated out of Pakistan for TRG's global portfolio, including financial oversight and finance operations support across the group's companies.

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered flagship and core.

• AfinitiflagshipStrategic or Co-development PartnerTRG Holdings has a significant investment in Afiniti, with Hasnain Aslam serving on the board. Afiniti is one of TRG's key portfolio companies. Mohammed Khaishgi also serves on the board of Afiniti Limited.
• e-TeleQuote InsurancecoreStrategic or Co-development Partnere-TeleQuote Insurance is a TRG portfolio company with Hasnain Aslam serving on the board.
• iSKYcoreStrategic or Co-development PartneriSKY is a TRG portfolio company with Hasnain Aslam serving on the board.
• ibex LimitedflagshipStrategic or Co-development Partneribex Limited (NASDAQ: IBEX) is a TRG portfolio company listed on NASDAQ. Mohammed Khaishgi serves as Chairman of ibex Limited. The company is also mentioned as operating in the UAE alongside other IT companies.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Vista Equity Partners: One of the largest software- and technology-focused PE firms globally, taking controlling positions in enterprise software companies. While far larger than TRG, Vista shares the same playbook of long-duration, operationally intensive investing in software and tech-enabled service businesses.
• Thoma Bravo: Premier software-focused PE firm that acquires and scales enterprise software and tech-enabled services companies. Closely parallels TRG's investment focus on software, information services, and technology-enabled services, but at substantially greater scale.
• Warburg Pincus: Global growth investor with deep exposure to software, BPO/IT services, and emerging markets. Comparable in sector breadth and growth-stage orientation to TRG's portfolio construction, though materially larger and more diversified by stage.
• TPG Capital: Large alternative asset manager with growth, venture, and buyout strategies spanning software and tech-enabled services. Comparable to TRG in offering both Growth and Venture strategies within a single platform, though at significantly greater scale.
• Bain Capital Tech Opportunities: Bain Capital's growth and tech-focused strategy invests across software, fintech, and tech-enabled services. Matches TRG's emphasis on growth-stage tech with operating support, while operating inside a much larger diversified PE platform.
• CVC Capital Partners: Global private equity manager with significant exposure to technology, business services, and consumer-facing companies. Comparable to TRG in sector breadth and buyout-plus-growth orientation, though at meaningfully larger fund size.

Direct peers

• General Atlantic: Global growth equity investor that takes meaningful minority and majority stakes in technology and tech-enabled services companies worldwide. Comparable to TRG in thesis (growth-stage tech, often with globalization/emerging markets exposure) and operational engagement model, though at much larger fund size.
• Insight Partners: Tech-focused growth investor combining primary capital and operating expertise to scale software and internet companies. Matches TRG's "Growth" + "Venture" dual-strategy approach, with similar emphasis on engineering and operations support alongside capital.
• Actis: Emerging-markets-focused PE firm investing in consumer, financial services, and technology-enabled businesses across Africa, Asia, and Latin America. Comparable to TRG in bridging developed-market capital with emerging-markets operating footprints, particularly relevant given TRG's Pakistan/UAE exposure.

Regional players

• Abraaj Group (predecessor entities): Historically one of the largest emerging-markets PE firms, with significant Pakistan/South Asia and Middle East deal flow in BPO and technology-enabled services. Operationally and thematically the closest historical peer to TRG's Pakistan-anchored, CX/BPO-tilted portfolio, despite the firm's 2018 collapse and subsequent restructuring.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments7 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Resource Group