Mubadala-led consortium to invest USD 133 mn in Indian financial services company

A Mubadala-led consortium is set to invest USD 133 mn into Indian ed-tech services provider Avanse Financial Services, Asharq Business reports, citing an Economic Times India report. The transaction is expected to value Avanse at INR 80 bn (USD 965 mn), and support the company’s expansion plans. The outlet did not clarify the breakdown of investments among members of the consortium, nor whether the investment involves debt or equity.

Who else is on board: India-based funds KotakPre-IPOFund and Avendus Future LeadersFund are also participating.

More on Avanse: Established in 2013, Avanse Financial Services provides affordable education financing for Indian students. In 2019, US-based private equity firm Warburg Pincus acquired 80% of Avanse, with the remaining 20% owned by India-based Kedaara Capital and the World Bank’s International Finance Corporation, according to its website.

This is Mubadala’s second investment in India this month: The sovereign wealth fund invested a couple of weeks ago an undisclosed amount in Indian healthcare network Manipal Health Enterprises.

REMEMBER-Mubadala plans to more than double its assets in Asia — including India — to 25% from the 12% currently under the fund’s management, head of Mubadala’s life sciences and healthcare division Camilla Macapili Languille told Bloomberg.

The UAE and India inked an investment pact in Februarywith President Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi signing several agreements, following news of the government’s plan to invest USD 50 bn in the country.