Tomorrow Capital on Wednesday said it is scouting for investment opportunities and has set aside Rs Rs 200 crore that will be deployed over the next 12 months.
The Mumbai-based company said it has also led a Rs 47 crore Series A round in global education platform, Leverage EdTech Pvt Ltd, run by Leverage Edu. This is Tomorrow Capital’s second investment in the education space within a month after BeyondSkool.
“Tomorrow Capital focuses on helping consumer startups with long-term patient capital, thought-partnership, hands-on operational support, industry networks, and access to resources to achieve an exponential growth trajectory and a high leverage for success,” Tomorrow Capital Chief Executive Officer Rohini Prakash said.
She added that Tomorrow Capital invests selectively and is focused on ensuring that its investments provide more than just capital, by guiding and assisting the portfolio company.
On the investment in Leverage EdTech, Prakash said the company has always looked at the education space as one where large homegrown consumer brands will drive the market for the long term.
“We have been studying the space for a while now and identified higher education and co-curricular support for K-12 as areas which present an opportunity to build highly scalable brands,” she added.
Students schooling from home due to the pandemic has had a deep impact on the conventional brick and mortar forms of businesses, and has enhanced the digital distribution and adoption of these services, which is a big enabler for scale, she said.
Previously, Tomorrow Capital had invested $2 million in BeyondSkool, a live, online co-curricular upskilling academy for children.
Including the latest investment, Tomorrow Capital has invested nearly Rs 100 crore over the last three years in five early-stage startups. The other investments are in Bonito Designs (tech-enabled home interior design and execution firm), and Multiliving Technologies, a home management platform.
Tomorrow Capital recently exited from ZenoHealth (previously Generico), a pharmacy chain selling low-cost generic drugs, at an over 7x return in just two years.