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Lok Capital, Acumen to fund social education venture

Curriculum Development, Public Private Partnerships (PPPs)

New Delhi: Venture capital (VC) firms Lok Capital and Acumen Fund have invested about Rs. 8 crore in a Karnataka-based social education venture, Hippocampus Learning Centres, that takes kindergarten concepts to villages.

In two years, Lok Capital, which has mainly invested in microfinance firms, aims to add up to five education ventures to its investment portfolio. It will invest in for-profit education ventures with scalable business models, but which are also affordable and capable of bringing grassroots change, said Ganesh Rengaswamy, partner, Lok Capital.
“The investment in Hippocampus is small-ticket but it’s important as it is our first in the sector,” he said. “We are evaluating other ventures like in education, skill and employment…. In next two-three years, we look at investing in three-five ventures.”

Lok Fund-II has a corpus of around Rs. 450 crore with a focus on financial inclusion, education and allied fields, and healthcare.

Livemint, 14 May 2012

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