PRIVATE EDUCATION FIRMS
Why these Chinese working mothers don't want more babies
A woman leading a financial team earning more than her husband, another pursuing a dream to become a civil servant, and a budding influencer aiming to be the family breadwinner are all young mothers in China who have one thing in common: they are raising one child and don't want another, regardless of their husbands' opinions or the government's incentives aimed at addressing an aging population.
Chinese hackers step up attacks on Taiwanese organisations: cybersecurity firm
A suspected Chinese state-sponsored hacking group, RedJuliett, has intensified its targeting of Taiwanese organisations, including government, education, technology, and diplomacy sectors, ahead of Taiwan's presidential elections in January. The cyberattacks were observed between November 2023 and April 2024. RedJuliett accessed servers via vulnerabilities in SoftEther enterprise VPN software. Recorded Future suggests that Chinese intelligence services in Fuzhou are likely behind the attacks to gather intelligence on Taiwan.
Rahul Gandhi's Birthday Today: From education to job, lesser-known facts about the Nehru-Gandhi scion turning 54
Rahul Gandhi, turning 54 today on June 19, is a prominent Congress leader and member of India's influential Gandhi family. His career challenges the ruling BJP and Prime Minister Narendra Modi. Born into a legacy of Indian Prime Ministers, Rahul Gandhi's education spanned prestigious schools in Delhi and abroad. He holds an M.Phil. from Trinity College, Cambridge, and has pursued diverse professional ventures before emerging as a key political figure, serving multiple terms in Parliament.
NEET-UG results 2024: No evidence of paper leak in exam, says Education Minister Dharmendra Pradhan
NEET result 2024: No evidence of paper has been found in the NEET-UG exam 2024, said Union Education Minister Dharmendra Pradhan on Thursday. This comes after the Centre told the Supreme Court that the decision to give grace marks to 1,563 NEET-UG, 2024 candidates for admission to MBBS, BDS and other courses has been cancelled and they will be given an option to take a re-test on June 23.
CX Partners buys controlling stake in fertility centre Sabine
Founded in 2010, Sabine's Muvattupuzha hospital draws couples from across Kerala for IVF treatment that helps individuals or couples get pregnant. On an average, Sabine does about 500-600 IVF cycles per month, or about 42%-45% of all IVF procedures in Kerala.
Reliance to transfer unclaimed shares to govt fund by this date: Check if yours are in RIL's list
Reliance Industries shares: You RIL shares will be transferred to Invester Education Protection Fund (IEPF) if you do not claim them by a date as specified by Relaince Industries through its public notice dated May 24, 2024. Read here to know how to claim, who has to claim and which form to fill if such shares needs to be claimed.
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Global fund KKR puts Lighthouse on the Block, eyes $1.2 billion valuation
KKR & Co is set to sell its education portfolio in India, Lighthouse Learning, with a valuation of $1-1.2 billion. The group operates over 1,350 pre-schools and 45 schools, attracting interest from global educational institutions and PE funds. Lighthouse has seen increasing student numbers and revenue growth, with expectations to reach Rs 1000-1200 crore by fiscal year 2024.
Diminishing healthcare quality, worsening patient health outcome: Lancet study decries healthcare privatisation
Study in The Lancet magazine reveals that healthcare privatization globally lowers quality of care and worsens patient outcomes. Based on extensive research across high-income nations, it highlights the negative impact of converting public hospitals to private entities and outsourcing services. Concerns raised amid Supreme Court scrutiny over healthcare cost discrepancies
PE fund Apax to step up India play with new team
The Apax strategy is more pivoted toward control deals, given its focus on being able to have a seat on the table to drive changes. It is, however, open to partnering with quality founders and management teams in minority settings "where there's a meeting of minds," Haldea said.
Venturi Partners invests $27 million in Peak XV-backed K12 Techno
Venturi Partners acquired a 5.12% stake in K12 Techno Services from Navneet Learning, operating Orchids international schools. The firm invests from its $180 million maiden fund in companies like Livspace, Country Delight, and Pristyn Care.
IIM Bangalore to open private equity centre of excellence
The Indian Institute of Management, Bangalore, is poised to establish the nation’s inaugural private equity center of excellence within an academic institution, supported by Mathew Cyriac, an alumnus of the institute and executive chairman of Florintree Advisors, a private equity firm. Cyriac, formerly co-head of private equity for Blackstone India, is donating Rs 17.5 crore toward the center, marking the largest contribution from a single alumni member to IIMB.
Capria Ventures announces final close of India Opportunity Fund at Rs 153 crore
Capria Ventures concluded the Rs 153 crore fundraising for the India Opportunity Fund. The fund, which had invested in Awign in February last year, will return more than 20% of the invested capital to its limited partners or sponsors in funds.
Kedaara Capital closes largest India PE fund at $1.74 billion
Kedaara Capital has closed its $1.73 billion fund, Kedaara IV, the largest fund raised by an India private equity fund in 12 years. The fund, which will be its fourth in 12 years, was raised in just four months beginning last December and would even surpass Chrys Cap’s $1.3 billion Fund IX raised in 2023. Around 85% of Kedaara’s new fund was raised from existing backers, including the three of the largest Canadian pension funds – CPPIB, CDPQ, and Ontario Teachers’ Pension Plan (OTPP).
Stark divergence in projected returns of private and PSU banks in next one year: Will analysts again be caught on the wrong foot?
One sector where the street has been giving differential treatment for many years has been the banking space. Private banks were preferred over their PSU counterparts. But three years back, things started to change. Much loved private sector banks started to stagnate, both in terms of absolute price movement and also in valuations. It was not that immediately the PSU banks came into limelight, there was a phase of more than a year when both private and public sector banks were ignored. But then a year back it was PSU banks which got into limelight and since then have been doing well. But as they say, any kind of bias dont go away easily. Analysts estimates for next year's upside potential are far higher for private sector banks as compared to PSU banks. Possibly they are taking into account the fact that when the capex cycle takes upturn, which it has, PSU banks are much more likely to benefit as they have balance size and more importantly the mind set for that kind of lending.
IIT Madras partners with Starburst Accelerator SARL to establish €100 Million Aerospace and Defence start-up hub
French aerospace firm Starburst Accelerator SARL collaborates with IIT Madras to establish a startup hub in India with a funding support of €100 million. This partnership aims to enhance the Aerospace, Space, and Defence (ASD) ecosystem in India, focusing on market analysis, technology scouting, and international expansion strategies for Indian startups. The initiative will also create venture capital funds for ASD technology and provide export promotion support for Indian startups to explore international markets.
Mubadala, Avendus invest Rs 1000 cr in NBFC Avanse
Abu Dhabi's Mubadala Investment Company and Avendus Future Leaders Fund II invest Rs 1,100 crore in Avanse Financial Services, an education-focused NBFC. The funding aims to enhance customer experiences and drive profitable growth. Avanse, with an AUM of ₹12,147 crore, plans to go public to raise Rs 4,000 crore, potentially becoming India's first listed education-focused NBFC.
Alta Capital looking to invest over $1 billion in India's educational infra
The firm has already invested over $1 billion across warehousing, managed workspaces, student housing and educational infrastructure businesses in less than a year of operations till December, which also marked its purchase of education infrastructure development services company Cappella Educore for $200 million. Alta Capital had earlier acquired Goldman Sachs' and Warburg Pincus' 100% stake in student housing platform Good Host Spaces for $320 million in the largest-ever student housing deal in the country.
Human trafficking network: CBI files case against 19 entities/individuals
ET has seen a copy of the FIR. Some of the alleged human traffickers booked are residents of Tamil Nadu, Kerala, Maharashtra, and Haryana. The CBI alleged that the accused "themselves and through their agents trafficked Indian nationals to Russia on the pretext of getting jobs related to the Russian army, security guards, helper, better life, job, and education, and a huge amount was charged from these persons illegally".
HCL Group invests Rs 166 crore in edtech firm Education Initiatives
Bengaluru-based edtech firm Education Initiatives plans to expand to new markets like South Africa, Kenya, Ghana and Saudi Arabia. It currently operates in India, UAE, South Africa, and Singapore. It is also looking to acquire edtech product companies focused on improving learning outcomes, and claims to have over a million paid users for its offerings.
Ivy League whisperers: High-end education consultants are in huge demand from Delhi to Dhanbad
Viral Doshi, a US college admissions consultant, helps students from tier-2 towns like Amritsar and Dhanbad get into Ivy League schools like Harvard and Yale. The Red Pen charges Rs 1.8 lakh to Rs 7.75 lakh for its services. Other consultants like Athena Education and Yocket are also popular choices.
RBI approves HDFC Bank's 90% stake sale in HDFC Credila to ChrysCapital and BPEA EQT
HDFC Bank received RBI approval to sell 90% stake in HDFC Credila, boosting Q4 income. The sale was approved by RBI and CCI. Details of credit rating report, stake divestment, and fresh equity infusion were mentioned. Availability of balance amount not specified. On July 1, last year, HDFC Ltd, the parent housing finance company, was amalgamated with HDFC Bank. Thus, the entire investment was transferred from the parent to the bank.
NIIF to acquire Morgan Stanley-backed in-building connectivity firm iBus for Rs 1600 crore
NIIF is set to acquire a majority stake of 55-60% in iBus Networks, a leading provider of in-building wireless solutions in India, for Rs 1,600 crore ($200 million). The current minority stakeholder, Morgan Stanley India Infrastructure Fund, will retain its position, and the company's management will continue to run the business. iBus Networks offers in-building sharing (IBS) and last-mile connectivity solutions, serving clients such as Airtel, Jio, and Vodafone Idea.
BlueStone, Ixigo chart IPO route; a new low for Paytm
Online jeweller BlueStone and travel tech platform Ixigo are planning to list on the public bourses. Details of this and more in today’s ETtech Top 5.
DDA allows private firms to buy flats in bulk
“Any private entity with a registered office or campus in Delhi/ NCR region can now purchase residential flats of DDA in bulk for use as residential staff quarters, hostel among others. Such a policy will enable the growth and development of private industrial, educational and other sectors in upcoming areas like Narela leading to the overall development of the city,” DDA said in a statement.
KKR's road InvIT to acquire 12 assets from PNC infratech
"The transaction is one of the largest acquisitions in the highways sector. Annuity nature of cashflows from the Target Portfolio would provide further stability to our existing portfolio. This investment is in line with our thesis of acquiring assets with long balance concession life generating predictable distributions for our unitholders," said Gaurav Chandna, head - strategic finance at Highway Concessions One.
Don't disincentivise private investing by making capital gains tax higher than public markets: Gopal Srinivasan
Gopal Srinivasan says the reduction in private equity funding in 2023 is seen as a cleansing process, with buyout activity and focus on energy and manufacturing showing promise. The trajectory for the start-up space in the budget is anticipated in the June budget, with expectations for improved tax structures and progressive regulation. Larger start-ups preparing for IPOs are expected to correct the exuberance of 2021 and focus on sustainable growth.
Inflows from private equity, venture capital funds to domestic companies plunge to $27.9 billion in 2023
Private equity and venture capital investments in Indian companies declined about 40% to $27.9 billion in 2023, compared to $47.62 billion in 2022, according to data from Venture Intelligence and the Indian Private Equity and Venture Capitalist Association. The year also saw an increase in outflows to $19.34 billion from $18.45 billion in 2022. However, industry watchers expect a rebound in funding next year.
Cappella Educore secures $200m commitment from Alta Capital
An education specialist platform, Cappella Educore has secured an investment of $200 million from Alta Capital and in the next three years this will help the company grow a portfolio of around $550 million. Currently, Cappella Educore has 13 schools as part of its portfolio and plans to add 15 more and aims to be listed as an infrastructure investment trust.
Veld Capital successfully divests its Indian portfolio
$100 million in education infrastructure assets spanning western and southern India in collaboration with JV Ventures, an investment firm specialising in social infrastructure assets. The investment strategy was focused on the highly fragmented paid-for K-12 education market in India. K-12 refers to the primary and secondary education market collectively.
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