ECONOMYNEXT- Kaizen Private Equity II Pte. Ltd., a 79 million US dollar private equity fund specializing in education, will be investing in eight businesses across seven countries in South and South East Asia including Sri Lanka, the Asian Development Bank (ADB) said.
ADB said it will invest 5 million US dollars in the fund, managed by Kaizen Private Equity which is based in Singapore and India.
Other development agencies backing the PE fund include the Dutch Development Bank (FMO) with 15 million US dollars and the Swiss Investment Fund for Emerging Market, France’s Proparco and the Belgian Investment Bank with 10 million US dollars each.
The investments will be in core schooling, test preparation, preschools, online education and vocational training, ADB said.
The fund will invest in eight mostly profitable businesses in Bangladesh, India, Myanmar, Philippines, Sri Lanka, Thailand and Vietnam.
A majority of the funds will be deployed in growth stage companies, and some investments are allocated for smaller startups.
ADB said that the investments would help reduce povery and inequalities, and accelerate gender equality, while helping reach the development bank’s target of diversifying into private sector operations.
The private equity firm’s earlier investments are mostly in India, with some in South East Asian countries such as Vietnam and the Philippines.
FMO had said that Kaizen is the only specialized education fund manager in developing Asia. (Colombo/Oct29/2019)