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Education Catalyst Fund (ECF), which aims at supporting edtech companies in providing solutions to low-income families in education, jobs and livelihood, has raised $20 million funding.
ECF is the first multi-investor fund to focus exclusively on affordable education and livelihood in the country. The investors include Gray Matters Capital (GMC), Michael & Susan Dell Foundation, India and a few private investors in India.
Ragini Chaudhary, CEO, Gray Matters Capital India, said, "GMC believes that investing in education and supporting young entrepreneurs is a powerful pathway to achieving impact at scale. ECF is focused on education and skilling - two of the most important ingredients for harvesting the demographic dividend of the country. We are excited about the potential of bringing positive change in the lives of low-income families across India.”
An 8-year close-ended fund, ECF aimed at supporting companies in the early part of their life cycle with seed and series A stage investments.
Speaking about ECF, Geeta Goel, Vice President, Mission Investing at Michael & Susan Dell Foundation, said, “Over the years, we have seen that the foundation’s impact can be expedited through high quality market-based solutions that show demonstrable improvements in education and employment levels of our target segment.''
“Our strategy of supporting early stage companies through funds is geared towards catalysing such solutions, and then nurturing them to scale and sustainability. We were pleased to see the traction in IEIF (India Educational Investment Fund), and decided to continue our support to CBA Capital in setting up a larger, multi-investor fund,” she added.
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