Venturi bets $27 mn for 5% stake in K12 Techno

Singapore-based private equity firm Venturi Partners Pte. Ltd has acquired a 5.12% stake in K12 Techno Services Pvt. Ltd from Navneet Education Ltd for ₹225 crore ($27 million), according to a joint statement from the companies. The firms, however, did not disclose other financial details of the transaction. K12 Techno Services is the operator of the Orchids International school chain.

Since 2013, Navneet Education has invested ₹118 crore in K12. It has now divested some of its stake in the company, but will retain 14-15%, according to two people in the know, seeking anonymity.

K12 also counts Peak XV, Sofina Ventures, and Kedaara Capital as its investors.

According to the people cited above, the deal valued K12 at ₹5,000 crore. In September 2023, the company was valued at ₹3,800 crore, when Kedaara Capital invested ₹1,200 crore to pick up a stake from Peak XV (formerly Sequoia Capital India).

“This is a multi-bagger partial exit for Navneet Education, which has taken money off the table, but continues to hold a sizeable stake,” one of the two people said. “Venturi is likely to increase its stake, going forward.”

In response to Mint's queries, Rishika Chandan, managing director, Venturi, said: “Venturi is committed to supporting the company with further capital requirements as it scales its platform.” Venturi Partners, which specialises in consumer investments across India and Southeast Asia, has backed the likes of Livespace, Country Delight, Believe, Pickup Coffee and DALI. It is currently investing from its $180 million fund.