VCCircle

UTI Ventures made a 50x exit from Excelsoft this year when its sold its stake to DE Shaw.

E-learning firm Excelsoft, from which UTI Ventures 50x exit, has sold 10% stake to Singapore based Arohi Asset Management for Rs 40 crore. The deal values the Mysore-based firm at Rs 400 crore, up Rs 50 crore from when DE Shaw bought the stake from UTI Ventures. VC Circle has confirmed this information through its sources. In April this year UTI Ventures had sold its 35% stake in Excelsoft to DE Shaw for $31 million. UTI had invested Rs 2.5 crore in Excelsoft in 2001. 

Excelsoft provides a range e-learning solutions. It provides customised learner-centric systems, test and assessment systems and desktop tools. Excelsoft provides solutions to clients from k-12 to universities to corporates. The company has profits of Rs 25 crore over a topline of Rs 60 crore. Excelsoft has centers in Mysore, Hyderabad and New Delhi and it employs around 500 people. The firm has around 500 clients across the world some of which are Pearson Education, Infosys, Wipro, IIFT, Oxford University, World Bank, UNESCO. 

Education has seen a lot of interest from private equity players. Some of the major listed players in this segment are Educomp Solutions, Everonn Systems and Core Projects & Technologies. All of them have received private equity funding.