In a growing aspirant economy such as India, education enjoys pride of place among heads of expenditure in most middle income homes. It is this spending that Kaizen—India’s first private equity (PE) fund being raised to focus on investing in education businesses—aims to tap into. The Kaizen Education Fund I, being put together by Reema Shetty, Akhil Shahani, Sandeep Aneja and Jetu Lalvani, who together have at least 65 years of experience in education and private equity, hopes to raise $100-150 million (Rs482-723 crore). “Education is as counter-cyclical as it gets. It’s a sector where people are willing to spend a disproportionate amount of their income to go back and reskill themselves even in a downturn,” Aneja said, adding the fund has received some commitments. […]