Private equity firm Matrix Partners India today said it has invested Rs 50-crore as the sole investor in the first institutional round of funding of Maharana Infrastructure and Professional Services Private (MIPS). With the completion of this financing, Matrix India, Director, Amit Kapoor will join the board of MIPS, a press release issued here said. MIPS is one of the largest service providers to higher education institutes in North India. Currently, the group is running 20 courses with 10 campuses with more than 10,000 students. “MIPS has an innovative business model to address the needs of the country's fast growing education sector. It is well positioned to become a dominant player in India with its focus on providing state-of-the-art facilities and high quality, job oriented training. We have been impressed by Shailendra Bhadauria's passion and ambition to build a large organisation,” Matrix India Director Amit Kapoor said. “I feel immense pleasure to introduce MIPS as a unique company in the country, which will provide a single point education support system to various established and up-and-coming educational organisations,” said MIPS Chairman and Managing Director Shailendra Bhadauria.
Source: IBN Live