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India’s first education-focused PE fund has back-to-basics tack

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. […]

KS Oils to raise Rs 450 cr from equity funds, GDR

Edible oil firm KS Oils on Tuesday announced it will raise Rs 450 crore from private equity funds, promoters and a new global depository receipt (GDR) issue. ET had reported the company’s fund-raising plans on Tuesday. PE firm New Silk Route will invest Rs 135 crore in the firm in return for a 7% stake through preferential allotment of equity shares. The promoter Garg family will put in Rs 157 crore and existing investors Citigroup Venture Capital International and Baring Private Equity Asia will invest Rs 49 crore each by subscribing to convertible warrants. KS Oils will raise another Rs 60 crore through a GDR issue. In a statement to BSE, the firm said it will use the funds to expand its palm plantation assets in south-east Asia. KS Oils owns mustard oil brands such as Kalash, Double Sher and KS Gold. […]

IDG Ventures to invest Rs 300 crore in India

Venture capital firm IDG Ventures India plans to invest Rs 300 crore over the next two years across software, telecom, mobile, security and digital consumer markets. Some of the technology and tech-enabled sectors in which IDG Ventures India is interested include mobile value added services (MVAS) in light of the much awaited 3G rollout, software products such as business intelligence (BI) and analytics in retail, telecom and BFSI, education, healthcare, clean tech and manufacturing including robotics and aeronautics. The early-stage venture capital fund is primarily focusing on Bangalore, Mumbai, Delhi, Chennai, Hyderabad and Pune. […]