The week begins with a Rs 100 crore investment by Mumbai-based Matrix Partners India in FIITJEE, an education and training company from New Delhi. As the name suggests, the company provides training for the IIT-JEE, AIEEE and other engineering entrance examinations. Started up in 1992 by founder-chairman Dinesh Kumar Goel, the company claims to have put more than 25,000 students into the various IITs till date, according to the press release. Not much information available on financial performance numbers. Update: The company plans to use the money to expand from the current 20 centers to 45 and increase the range of its services.
This will be the Boston-headquartered Matrix’s ninth investment here since it set up shop in 2006 and its second in the education space after Tree House. The India operations are headquartered in Mumbai and led by Rishi Navani (in photo) and Avnish Bajaj. It invests here from a Rs 1,500 crore dedicated India fund pool. Read the full story
