Venture capital firm Venturi Partners has acquired a stake worth $27 million (Rs 225.18 crore) stake in K12 Techno Services from Navneet Learning LLP, a subsidiary of Navneet Education Limited.
Navneet Learning disclosed in a stock exchange filing that it divested a 5.12% stake in K12 Techno for $27 million. Following the transaction, it will maintain a 14.35% stake in the company.
Venturi Partners’ investment in K12 Techno came out of its $180 million fund. It will collaborate with current shareholders, like Peak XV Partners, Kedaara Capital, Sofina Ventures, and Navneet Learning, to support the management team led by Jai Decosta, CEO of K12 Techno, the VC firm said.
“Venturi’s values are well-aligned with K12 Techno’s mission to leverage technology to provide world-class holistic learning and improved outcomes at scale. We look forward to working together with Jai and the team to support K12 Techno in this mission,” Nicholas Cator, Founding Partner at Venturi Partners, noted.
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K12 Techno will join Venturi Partners’ portfolio of consumer-focused investments in India and Southeast Asia which includes Livspace, Country Delight, Believe, Pickup Coffee, and DALI.
This transaction represents Navneet Learning’s initial partial exit from its stake in K12 Techno, after having invested a total of Rs 118.59 crore in the company.
“This decision to partially divest our stake aligns with our long-term strategic vision and allows us to focus our resources on core business objectives while unlocking value for our stakeholders,” Gnanesh (Sunil) D. Gala, Managing Director of Navneet Education Limited, said.
K12 Techno claims to provide full-stack education-related services to over 800 private educational institutions with more than 300,000 students enrolled across these educational institutions across India, under multiple brands. The company asserts that it has grown at a revenue CAGR of about 40% over the last five years.
“This collaboration will propel us closer to our mission of shaping a brighter future through holistic learning experiences,” Decosta said.
Edited by Kanishk Singh
