Hyderabad-based Song Advisors has announced debut deals worth $4 million in India's education and healthcare space. The venture fund, backed by the Soros Economic Development Fund, Omidyar Network and Google, has invested in K-12 Techno Services and Eye Q Vision.
Song Advisors manages a $17-million fund and is focused on sectors like education and training, agriculture and food and healthcare. It works in academic partnership with the Centre for Emerging Markets Solutions (CEMS) at the Indian School of Business (ISB).
K-12 Techno Services, a school management company which runs Gowtham Educational Institutions in Andhra Pradesh, is co-investment with Sequoia Capital. VCCircle was the first to report about this deal last month.
Vishal Vasishth, Managing Director of SONG Advisors who will join the board of K-12 Techno Services said, "There aren't many private schools that offer affordable high quality education today to low-income markets. We believe that K-12 will help bridge this gap and provide a template to improve the quality of affordable school education in India."
The second investment is in Eye Q Vision, an affordable eye-care hospital chain based in Gurgaon, which operates eight eye care hospitals on a hub and spoke model across Haryana, Delhi, Uttaranchal and Uttar Pradesh. Eye Q Vision plans to expand its network to another 20 towns in the next 2-3 years.