Bengaluru-based education-focused VC fund CBA Capital has raised $15.6 Mn (INR 100 Cr) towards the first close of its fund, Education Catalyst Fund or ECF.
The VC fund will focus on backing startups at Pre-Series A, Series A, B and C equity rounds. ECF’s mission is to support 15 entrepreneurs dedicated to providing solutions for imparting education and skills training to individuals and professionals from the low-income segment, as in households that earn less than $12 per day.
With the first close, it has also announced investments in three tech startups: Simulanis, Kopykitab and Buddy4Study. The total commitment in these three companies is approximately $2.35 Mn (INR 15 Cr).
New Delhi-based Simulanis is engaged in transforming training programmes in corporates and institutions into interactive augmented reality/ virtual reality (AR/VR) modules. Kopykitab is a Bengaluru-based startup offering a digital textbook platform and Buddy4Study is a Noida-based startup that develops tech-based solutions to manage student scholarship systems.
CBA Capital was launched in 2013 and is backed by Michael & Susan Dell Foundation. ECF was established under the Alternate Investment Fund Category II scheme of the Securities and Exchange Board of India. It is also the first multi-investor fund to focus exclusively on affordable education, jobs & livelihoods opportunities in the country. The investors include Gray Matters Capital (GMC)and a few private investors in India.
“We are excited to launch a first of its kind, multi-LP venture capital fund seeking to support and participate in the single largest human potential opportunity on the planet: the Indian Education Industry” said Vishal Bharat, Managing Partner of ECF in a media statement.