Sequoia Capital India has invested a reported INR700 million (€12.2million; $15 million) alongside Google and Soros-backed Song Investment Advisors in K-12 Techno services, a manager of over 50 education facilities ranging from international schools to junior colleges.
A Sequoia spokesman confirmed that the investment had taken place, but declined to elaborate. Song Investment Advisors did not comment by press time. The company is owned by Gowtham Educational Institutions.
The Indian education sector has been a key private equity target in recent years. Just last year, mutual funds specialist Franklin Templeton invested INR500 million for an undisclosed stake in Career Point Infosystems, an examination preparation company. The investment came just a fortnight after a very similar investment made by Matrix India Partners, which invested INR1 billion in FIITJEE, another group providing training for competitive examinations in India.
Those deals took place as Kaizen Global, a private equity firm based in Mumbai, was establishing itself to focus on private equity investments in India’s $86 billion education sector.
Sequoia Capital India invests out of its offices in New Delhi, Bangalore and Mumbai. The firm has invested in more than fifty companies in India over the past decade. Globally, the firm manages assets of about $10 billion.