Matrix Partners invests in education-services firm

As part of the deal, Matrix India's Director Amit Kapoor joins the board of MIPS, an integrated services provider to higher education institutes in North India. The company is a part of the MPGI group, which currently runs 20 courses for 10,000 students across 10 campuses. These courses span the disciplines of engineering, medical, dental, hospital, pharmacy, mass communications, IT, K-12 and pre-school management.

"MIPS has an innovative business model to address the needs of the country's fast growing education sector," Kapoor said in a statement. "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."

Sandeep Aneja, Founder and MD of education-focused Kaizen Private Equity, has previously told AVCJ that India's education sector is "possibly about $80 to $86 billion in size," including public and private spend, with private spend slated to rise to $64 billion over the next three years, from $43 billion.

Matrix India claims INR1,500 crores ($340 million) under management. Past and current investments include domestic companies Muthoot Finance, the Center for Sight, Siesta Hospitality and Tree House, which manages preschool and K-12 schools. Matrix Partners further has a global network of funds investing in the US and China, $2 billion under management globally.

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• Topics
• South Asia
• Matrix Partners