Sep 2010
Mumbai: : iDiscoveri Education, an education company that partners with schools to improve learning methods and trains teachers, has raised $10 million from private equity firm Lighthouse’s India 2020 Fund in return for a minority stake.
The funds will be used for expansion, said Ashish Rajpal, founder of iDiscoveri. “We have established a good proof of concept and now we will look to bring in new technology and take it across rest of India,” he said.
Its flagship program XSEED, a comprehensive solution for quality teaching
Mar 2010
Gurgaon-based iDiscoveri Education today said that it has raised private equity funding from India 2020 Fund, managed by the Mumbai and New York-based Lighthouse Funds. iDiscoveri said that the fund will take a minority stake in the education services company.
VCCircle reported last month that iDiscoveri was in talks with PE firms to raise around $10 million with Lighthouse leading the talks.
iDiscoveri helps schools develop curriculum through its programme called XSEED and is also involved in corporate training.
Aug 2010
India 2020 Limited, a $125-million mid-market fund managed by Lighthouse Funds, is picking up a stake in BSE-listed Dhanuka Agritech for Rs 33.9 crore. Dhanuka, involved in the businesses of agro-chemicals & seeds, will allot 8,25,000 shares of Rs 411 each to 2020 Equity Investors Ltd, a subsidiary of India 2020, as per BSE filings.
The shares could amount to around 8.25% stake on a post dilution basis. The board of Dhanuka has approved the preferential allotment and has called for an extra ordinary general meeting (EGM) on August 30.
India's middle class may be growing, but its increasingly prosperous consumers have not entirely embraced the aspirational lifestyles seen in Western countries. Families only a few generations out of poverty still feel pressure to make sure their most basic needs are met before engaging in discretionary consumption.
"You'll hear people say this phrase, ‘Roti kapda aur makan.' Roti means bread, kapda aur makan is clothing and housing," says Mukund Krishnaswami, managing partner at midmarket-focused Lighthouse Funds India.