Kota- based, ALLEN Career Institute receives $600 Mn of investment from the Bodhi Tree Systems
- ByStartupStory | May 2, 2022
Bodhi Tree Systems is a newly formed platform that was established in 2021 by Murdoch’s Lupa Systems and Shankar. The platform provides strategic investments in consumer technology focused on India, but also across South and Southeast Asia and the Middle East.
The platform was backed by James Murdoch and former broadcast executive Uday Shankar, beliefs in investing in the sectors of consumer technology, which actually characterizes significant opportunities but severely lacks capital and innovative technology which encompasses a wide area of sectors like media, healthcare, and education, as said by the company.
The Bodhi Tree Systems had bagged an investment of $1.5 billion from Qatar’s sovereign fund Qatar Investment Authority, back in February 2022.
Bodhi Tree Systems, backed by James Murdoch and former broadcast executive Uday Shankar, had approved to invest of $600 million in Allen Career Institute. This was the platform’s second major investment in a week, whereby they acquired a minority stake in Allen. This investment put the valuation of the test prep business well above $1 billion, as informed by a person who knew the details of the deal. The person also notified that Allen’s founding Maheshwari family will retain control of the business. This investment would help expand Allen’s base in the Middle East and also gauge Indian operations through technology.
The deal should be closed in three months, after the necessary regulatory approvals. EY was the acting financial advisor, Cyril Amarchand Mangaldas provided legal advisory and documentation to Allen Career institute, and AZB & Partners were the legal advisors of Bodhi Tree
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