Kaizen invests $4m in India’s Ace Creative Learning

Ace, which provides training for entrance examinatins, received $1.1 million two years ago from Accel Partners, Catamaran Ventures and some angel investors. These parties also participated in the current round of financing.

The funding will be used to support Ace's expansion outside its home state of Karnataka.

Founded in 1998, the company helps students prepare for examinations including the Indian Institute of Technology Joint Entrance Examination (IIT JEE), the All India Engineering Entrance Examination (AIEEE), the All India Pre Medical Test (AIPMT) and the National Talent Search Examination (NTSE).

"With education as our focus, we have been looking for companies with a differentiated edge," said Sandeep Aneja, founder and managing director of Kaizen. "Ace has doubled its IIT JEE ranks and increased AIEEE ranks by 50% last year, alongside ensuring students are also receiving a balanced preparation for their school board examinations."

India-based investment bank Masterkey Holdings advised Ace on the transaction.

Kaizen launched the Kaizen Education Fund I at $98 million in May 2009. Last month, it invested INR250 million ($4.5 million) for a minority stake in Altus Learning, an Indian school management firm. The investment in Ace is the fund's fourth disclosed transaction

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• Topics
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