India's Kaizen to raise Asia education fund
Indian education-focused GP Kaizen is eyeing its first Asia-focused education fund, a source familiar with the situation told AVCJ.
The fund, which is planned for early 2014, will focus on opportunities in the education space in South and Southeast Asia. The fund will target around $150 million.
"There have been a lot of potential deals coming out of countries like Bangladesh, Sri Lanka, Myanmar, Singapore and Indonesia, and they are increasing. It is a space that needs to be occupied," the source said. "In Southeast Asia opportunities are larger in size, the companies are more mature and the space is well regulated. In South Asia the opportunity is more similar to that in India, where businesses in this space are still young."
In addition, the firm is said to be mulling the prospect of opening a second office, either in Singapore or Hong Kong. However, the fund will not be looking at oppurtunites in China.
Kaizen launched the Kaizen Education Fund I, which reached a final close of $98 million, in May 2009. In January, Kaizen led a $4 million Series B round investment in Educomp Solution's subsidiary authorGen, which produces online education platform WizIQ. WizIQ was its fifth disclosed investment.
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