ICICI Venture Invests In Hyderabad-Based People Combine Avenues
ICICI Venture through its Mezzanine Fund will be investing Rs.20 Cr in the redeemable debentures of 
People Combine Avenues Ltd.
Formerly known as Vikas Education Institutions Ltd, Hyderabad-based People Combine Avenues Ltd runs India's largest International Baccalaureate (IB) school - Oakridge International School - in Hyderabad.
Transaction Reference: BS
Promoted by T Naga Prasad and Raja Shekhar Babu, People Combine and its associate societies run and manage seven K-12 institutions in Vishakhapatnam and Hyderabad, including Oakridge I and Oakridge II in Hyderabad, Vikas Schools and Junior College (CBSE), Nalanda Talent School (SSC) and Westwood International (IGCSE/ CBSE) in Vishakhapatnam.
Currently, it caters to almost 6,000 students in these two cities.
This will be ICICI Venture’s first investment in the exciting K-12 education sector through its Mezzanine Fund I.
ICICI provides mezzanine finance for growth capital, buyout, turnaround opportunities, real estate and recapitalization transactions. The size of the fund is $51 Mn. ICICI's Mezzanine Fund investment potfolio includes - Avesthagen Ltd, I-Ven Interactive Ltd and MAS Financial Services.
ICICI Venture is planning to sell its stake in RFCL Ltd through it India Advantage Fund Series 1 (IAF Series 1) and is also planning a $500 Mn Infrastructure Fund and $222 Mn domestic real estate fund in coming months.
In the education space, this year, Centum Learning Ltd raised Rs 40 Cr from Mayfield India Fund, Tree House Education and Accessories Pvt Ltd raised Rs 40 cr from Foundation Capital and Matrix Partners India in its second round of funding, Milestone Religare Investment Advisors invested Rs 50-60 Cr in Resonance Eduventures Pvt Ltd.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 12/07/10 | People Combine Avenues - ICICI Venture | Private Equity | IAF Mezzanine Fund I (ICICI) | 4.20 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 16/05/12 | Venture Capital | Acumen Fund | Hippocampus Learning Centres Private Limited | 1.29 | Completed |
| 11/05/12 | Venture Capital | Accel Partners | Limberlink Technologies Private Limited | 2.00 | Completed |
| 11/05/12 | Private Equity | Rakesh Jhunjhunwala | Aptech Limited | 1.49 | Completed |
| 25/04/12 | Venture Capital | Nexus India Capital | TalentSprint Education Services Private Limited | 3.79 | Completed |
Fund |
||||
| Name | Corpus | Target Sector | Website | KeyContact |
|---|---|---|---|---|
| IAF Mezzanine Fund I (ICICI) | 51 | BFSI Pharma Healthcare Media Retail |
Subir Nag | |
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| People Combine Avenues Limited | T Naga Prasad Raja Shekhar Babu |
D No.10-1-28 Ailmetta, Visakhapatnam-530003. Andra Pradesh, India. |
Tree House Education And Accessories Limited Centum Learning Limited Ace India Limited |
www.vikasonline.com |
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