Fidelity invests $15-mn in MindShaper Technologies
Private equity firm Fidelity Growth Partners India has invested about $15 million (Rs 67 crore) to acquire an undisclosed minority stake in Delhi-based MindShaper Technologies.
MindShaper, which operates under the Classteacher Learning Systems brand, is into K-12 educational content in the country.
“Fidelity Growth Partners India (FGPI) invests up to $15 million to acquire a significant minority stake in Mind Shaper Technologies,” the Delhi-based firm said in a statement.
The investment would be used to expand the company’s product portfolio.
“This investment will help us enhance our product offering as well as expand into new segments of education. We see this as a key milestone in our evolution and are glad to partner with FGPI to achieve our goal to support learning and teaching in classrooms across India,” Classteacher Learning Systems CEO Rohit Pande said.
As part of the investment, Kabir Narang and Raul Rai would join the board of MindShaper Technologies as representatives of FIL Capital Advisors (India), the private equity advisory arm for Fidelity Growth Partners.
MindShaper has been working with over 500 schools and about half a million students providing consulting and innovative technology solutions in the area of school education.
Fidelity Growth Partners India is India-focused private equity arm of Fidelity International. It focuses on cross-sector growth capital investing and seeks to invest in firms with an investment sizes ranging from $10 million to $50 million.