To stock its deal pipeline, TPG Growth’s The Rise Fund, the $2 billion impact fund from the private-equity giant, early on struck a partnership with Elevar to co-invest in some of the smaller firm’s deals. One of the first examples is a joint investment in LEAD, based in Mumbai, a provider of school-management services to schools serving low-income students in India.
LEAD’s ‘school-in-a-box’ helps affordable private schools in underprivileged communities with curriculum development, teacher training, administration and parent engagement. Founded in 2012, LEAD first partnered with schools in rural Maharashtra and Gujarat; it recently launched a partnership with public schools in Delhi.
A recent study revealed that Indian student’s performance in math and English comprehension has declined significantly in recent years. LEAD reports that across its network of schools, students’ English literacy showed 1.6 years of progress in a year, and class averages in math improved from 51% to 63%.
LEAD marks Rise Fund’s fifth investment, after last week’s investment in data management platform Dharma. The amount of the LEAD School investment was not disclosed.