The private equity arm of India’s Aditya Birla Financial Services Group has led an INR410m ($7.5m) financing round for pre-school management business Tree House Education & Accessories.
Aditya Birla Capital has acquired a 3.71 per cent stake in the company for about INR310m through its Sunrise Fund, while existing investor Omidyar Network has raised its stake from 2.61 to 3.55 per cent through an additional INR100m investment.
Tree House’s promoters will also invest an additional INR400m through warrants.
Antique Capital Markets advised on the deal.
Tree House has been a popular investment for the private equity community, and already counts Matrix Partners and Silicon Valley-based venture capital firm Foundation Capital among its investors.
The Aditya Birla deal follows a recent investment from Unilazer Ventures, the family office set up by Walt Disney India chief Ronnie Screwvala, which bought a 2.34 per cent stake for INR172m.
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