New Silk Route picks up stake in Varsity Edn

Asia-focused private equity and growth capital firm (NSR) has picked up a significant minority stake for $30 million in Hyderabad-based Varsity Education Management Private Limited (Varsity).

This marks NSR’s second investment in the education space after Beaconhouse School System of Lahore, a primary and secondary education chain with over 200,000 students. Founded in 2006, NSR has $1.4 billion under management,

NSR spokesperson Jacob Kurian said Varsity, a company specialising in providing operational and support services to educational institutes across Karnataka, Andhra Pradesh, Maharashtra and Tamil Nadu, was currently servcing 300,000 students.

According to Varsity management, the company provides a plethora of services to educational institutes including curriculum development, teacher recruitment, facilities management, transportation management, accounting services, IT services, marketing and testing services.

“We see tremendous potential in the portfolio of services that are being offered by Varsity,” NSR chief executive officer, Parag Saxena, stated in a release

Varsity said it chose NSR as its partner as it has a “track record of creating, operating and partnering with some of the best known education institutions.”