Photo: Acumen Fund
The Acumen Fund, a pioneering non-profit global venture fund addressing poverty across South Asia and Africa, recently announced a new investment. In July, it invested INR 1.5 Crore ($300,000) in Edubridge Learning Private Limited.
Acumen Fund – Expanding its Education Portfolio
This equity investment is another initiative of the Acumen Fund’s recently launched Education Portfolio, which aims to support private sector innovations that have the potential to increase access to low-cost, high-quality learning and employability services for the poor. This latest investment seeks to support the development of early stage companies that focus on meeting the need of low-income market segments.
With India’s education system struggling to meet the needs of a growing population, Acumen Fund mad it one of its goals to fight unemployment and increase employability. It recently invested in Hippocampus Learning Centres, which provide pre-school and primary education coaching in rural India. Acumen’s latest investment in the Education Portfolio brings it one step closer to its goal of impacting the lives of 150 million people by 2015. Ankur Shah, Interim Director of Acumen Fund India explains the focus on education as follows “It is clear that education offers one of the most viable pathways out of poverty, but there is room for much more innovation in how we ensure learning remains effective and relevant to employment”.
Edubridge – Company Profile
Based in Mumbai, Edubridge is still an early stage company and provides vocational skills training for low income youth across Maharashtra, Tamil Nadu, Karnataka, and Chhattisgarh. It is considered to possess great potential to significantly alter the landscape of opportunities for rural youth in India. The company seeks to address the lack of opportunity and simultaneous need for skilled labour in India by training rural youth and placing them in entry-level positions in different corporate sectors. So far, Edubridge has trained over 1,500 students and plans to further scale its services from currently 12 to 30 centres over the next 2 years.
Edubridge Founder Girish Singhania sais about the company “Edubridge’s goal is to fundamentally address the employability gap within India…By training these rural youth we are enabling them and their families to have a better future, while simultaneously improving the labour pool within India.”