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Sequoia Capital India on Tuesday announced an investment of Rs 25 crore in K-12 Techno Services ? in its second round of funding in the Hyderabad-based company that manages a chain of 70 schools in Andhra Pradesh.
In June last year, the venture capital fund and Song, which is owned by Soros Economic Development Fund, had put in Rs 75 crore in the company. Sequoia's share in the investment is about 80 per cent and the rest is by Song.
Sequoia Capital, which manages funds capitalised at about $1.5 billion, will be investing about $600 million in companies across sectors such as consumer goods, health care, education and infrastructure in the next three years.
?We see significant opportunities in the Indian education sector and this is our third investment in this sector,? Mr G.V. Ravishankar, Managing Director of the company, told press persons here.
K-12, which runs affordable English-medium schools under the Gowtham Model School brand, plans to open 25 schools in the State in 2011-12 and about 30 schools in Orissa, Chhattisgarh and Karnataka in 2012-13. ?Overall, we plan to invest about Rs 200 crore in the next three years to expand our chain in five States,? Mr Venkatnarayana, Managing Director of K12 Techno services, said.
Mr Ravishankar said Sequoia Capital plans to exit about six to eight ventures in the next 12 to 18 months, with most of the companies readying to hit the capital market.
He said the company was also sharpening focus on start-ups, having recently launched an initiative to mentor some not-so-recognised start-ups. It will be investing in some four to five technology-oriented start-ups, with the investment size ranging from Rs 2 crore to Rs 15 crore.
?In the education space, we are also looking at institutions that offer coaching for different entrance examinations and on-line education,? he said.
Song, which is partnering Sequoia in investing in K12, plans to invest about $100 million in the agriculture, health care, infrastructure and education spaces in the next two years.
?We have invested in two companies in the health care sector. We are will be finalising deals with two more companies in the agriculture and water infrastructure spaces in the next two months,? Mr Vishal Vasishth, managing director of the company, said.
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