Private equity investor, New Silk route (NSR), which manages funds of over Rs 7,000 crore in India, has invested upwards of $30 million (over Rs 150 crore) in Hyderabad-based education services provider, Varsity Education Management to pick up a minority stake.

New Silk Route, which has invested in companies like 9X Media and Nectar Life Sciences is a late stage investor and invests usually in mid-sized firms. But in the case of Varsity, it has made an early stage, growth capital investment.

Unlike companies like Educomp or Everonn that provide tools and services for learning and teaching, Varsity provides non-educational support services to schools like transport management, facilities management and teacher recruitment services.

“Unlike our other investments where we acquire management stake in companies, we have taken only a minority stake in Varsity. Though there are companies that handle outsourced services for schools, there isn’t a single company that provides a range of support services any school of a reasonable size would require,” said Jacob Kurien, Partner, New Silk Route, to FC.

Varsity provides services like curriculum development, teacher recruitment, accounting and IT services, marketing, testing services, text books and uniforms to over 3 lakh students in schools in Hyderabad, Chennai and Bangalore.

rsrividhya@mydigitalfc.com