Ashmore Alchemy Invests Rs 33Cr In SEED Infotech

▤ Summary

SEED Infotech, co-founded by Narendra Barhate and Shrikant Rasane (both IIT-Mumbai passouts), is a vocational education company in western India. The fund raised will be utilised to expand the company’s retail presence and create capabilities for high-end corporate training and staffing services. Ernst & Young acted as the exclusive financial advisor to SEED Infotech for this deal. The Indian education sector has witnessed 16 private equity investments worth a combined value of $126 million in the first 10 months of 2011. The trend indicates that such funding may surpass the transactions of 2010 – a total number of 22 deals worth $156 million, according to VCCedge, financial research platform of VCCircle.

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