PE Fund Investments
Education-focused NBFC Avanse raises Rs.1,100-Cr from Mubadala, Avendus
Abu Dhabi-based Mubadala Investment Company and Avendus Future Leaders Fund II, have invested INR 1,100 crore of primary capital in Mumbai-based Avanse Financial Services , an education-focused non-banking financial company (NBFC).US private equity firm Warburg Pincus had acquired about 80% stake in Avanse Financial Services, owned by Wadhawan Global Capital, in 2019. The rest of the stake in Avanse is held by Kedaara Capital (12.4%) and International Finance Corporation (IFC).Nomura Financial Advisory and Securities (India) Pvt Ltd acted as the exclusive financial advisor to the company, AZB & Partners represented the company, and Warburg Pincus as legal counsel.The company has disbursed loans to over 350,000 students and provided working capital to 1,200 institutions. It claims to have financed 400,000 students at 4,000 institutes for 30,000 courses in 50 countries. It has also provided growth and working capital to 2,000 educational institutes.
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