Education loan provider Avanse raises Rs1kcr equity from Mubadala and Avendus
Writer Admin
Education loan provider Avanse Financial Services has raised Rs 1,000 crore equity from Mubadala Investment Company and Avendus PE Investment Advisors.
Avanse said that the fund infusion would help grow its business profitably. The company funds Indian students’ education across various countries and provides growth and working capital to Indian educational institutions.
As of December 2023, Avanse’s assets under management (AUM) stand at Rs 12,147 crore. “Avanse will continue to enable young generations of Indian students to fulfil their aspirations. We are thrilled to partner with the management team of Avanse alongside institutions of the calibre of Warburg Pincus, Kedaara Capital and the International Finance Corporation”, said Luca Molinari, Head of Asia and Financial Services at Mubadala.

Avanse was originally set up by home loan company DHFL and its promoters. In 2019 it was acquired by Warburg Pincus. “As patient growth investors, we remain committed to supporting Amit and his team in continuing to scale Avanse — a commitment that has been central to our partnership,” said Narendra Ostawal, Managing Director and Head of India, Warburg Pincus.


“The growth capital will enable us to strengthen our brand proposition, integrate digital solutions, and innovate to build more depth into our product range as we work towards delivering greater stakeholder value,” said Amit Gainda, Managing Director & CEO, Avanse Financial Services.


Mubadala Investment Company is a sovereign investor managing the Government of Abu Dhabi’s sovereign portfolio. Mubadala has a $276 billion portfolio across six continents.

 

LINK