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Centum Learning Raises Rs 40Cr From Mayfield India Fund

22 June, 2010

Mayfield India Fund has announced a Rs 40-crore investment in Centum Learning, a Bharti Group company operating in the higher education domain. 

Mayfield started investing in India in 2006 and raised a dedicated India fund in 2008 making direct investments in companies like Geodesic Techniques, Fourcee and Paymate.

According to VCCEdge data, since 2000, 55 PE deals took place in education sector worth $426 million. About seven PE deals took place this year with the $44-million investment by Premji Invest in Manipal Universal Learning Pvt Ltd leading the deal value pack.

Rakesh Bharti Mittal, Chairman, Centum Learning said, in a statement, “India’s fast growing economy needs quality manpower to take forward its success story. The education, training & development segment has immense growth potential in India and Centum Learning is well positioned to unlock this potential.”

MF Advisors Managing Director Vikram Godse would be joining Centum’s board of directors. Godse said, “The education industry in India is going through a transformation in the way higher education and skills development is being implemented.  Centum is at the centre of this change.”

Centum Learning has set up over 130 learning centres in 90 cities across India. It has now launched Centum U-Institute of Management & Creative Studies which offers various undergraduate and postgraduate programmes along with world-renowned institutions in New Delhi, Mumbai, Pune, Mohali and Hyderabad. It is actively engaged with state governments to develop globally deployable skilled manpower and enhance employability quotient of both urban and rural youth.

Mayfield Fund invests in the US, China and India and currently has $2.4 billion under management. It has invested in over 480 companies of which 105 have had initial public offerings and another 160 have been acquired. Some of Mayfield past investments include Compaq, Amgen, SGI, 3COM, Sandisk, Citrix, Cypress Semiconductor, Intuitive Surgical, Web Methods, Tibco, 3PAR and LSI Logic.

Centum is not the first Bharti Group firm which has tapped venture capital investors for expansion. Mobile value-added services firm Comviva, which was earlier called Bharti Telesoft, has raised funding from Sequoia Capital and Cisco Systems.


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Centum Learning Raises Rs 40Cr From Mayfield India Fund

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