Avigo Capital, Matrix Partners invest $18.7M in Maharana Infrastructure & Professional Services

4 years ago

Avigo Capital and Matrix Partners India have put in Rs 100 crore ($18.7 million) in Maharana Infrastructure & Professional Services Pvt Ltd (MIPS), a diversified firm engaged in services related to infrastructure development and consultancy for educational institutions.

As part of the Series B investment, Avigo Capital will invest Rs 80 crore while Matrix Partners India will put in another Rs 20 crore. The funds will be used to offer infrastructure services and facilities management services to educational institutes. VCCircle first reported  the transaction on Jan 17.

Mid-market investment bank o3 Capital was the advisor to the transaction.

This is the second round of funding for MIPS. In April 2011, the company received Series A investment of Rs 50 crore from Matrix Partners India. MIPS provides a wide range of services spanning curriculum support, student placements, marketing, HR consulting and infrastructure services to various educational institutions in northern India.

“The company is also targeting to capitalise on vast opportunities in skills development through the emerging PPP (public private partnership) route,” said Shailendra Bhadauria, chairman and managing director of MIPS.

“MIPS is the largest service provider in northern India and currently caters to more than 10,000 students across 16 institutions including a multidisciplinary university in Jaipur. We would like to see it become a national player over the next few years,” said S Harikrishnan, MD of Avigo Capital.

“We continue to believe in India’s education services sector and look to partner with companies having innovative business models,” said Amit Kapoor, MD at Matrix Partners India.

MIPS is part of the group behind Kanpur-based Maharana Pratap Group of Institutions (MPGI), running a string of higher education institutes. The group has 10 campuses in northern India, with presence across the education value chain. It has recently set up Pratap University near Jaipur – a private university offering multiple disciplines and courses.

Education and ancillary services firms have been attracting a lot of interest from PE firms. Recently, in a similar deal, IDFC Alternatives invested Rs 100 crore in Manipal Servicecorp Facility Management Pvt Ltd, which offers housekeeping, catering and related services to hostels run by universities and other institutes.

The education services space witnessed 38 deals worth $142 million in 2012, according to VCCEdge, the data research platform of VCCircle.

(Edited by Sanghamitra Mandal)


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5 Comments
Meera Girdhar . 5 years ago

Indian Education sector is a high interest area for global investors. Nice to see the Matrix deal with MIPS! This is set to boom further after the government regulatory changes and reforms.

All the best,

Meera Girdhar

Nurture Talent Academy

Gaurav Tiwari . 5 years ago

Indian Education sector has become very attrative for global investors. This can really become a boom sector for furhter future PE investments with assured returns,

Goood Going

Raj . 5 years ago

Sahad,

percentage stake for matrix?

Nihar Pradhan . 5 years ago

The demand and supply gap in the education sector is alarming. The major role was to be played by the Govt, which was in slumber for decades, has just starting waking up to the reality. Though in recent time private players seeing the gaps have started seizing the opportunities. One could see the plethora of players jumping into the education bandwagon, and rightly so. The scope for creation of hard assets like school infra to the need of soft asset like teaching staff to training support is immense, needless to say that the need of resources is enormous and imperative.

Nihar Pradhan

Digital Campus

Sanjay . 5 years ago

world focus is moved to India, Such investments will help the Education sector grow leaps & bounds.. Its time such organizations also take care of their Corporate Social Responsibility (CSR) – Educating the poor

Avigo Capital, Matrix Partners invest $18.7M in Maharana Infrastructure & Professional Services

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