Franklin Templeton Private Equity invests in Career Point
August 10, 2009 Leave a comment
Career Point Coaching Institute has raised Rs 50 crore in equity capital from Franklin Templeton Private Equity Strategy, one of the leading India-focussed private equity funds.
Career Point (CP), which raised funds on July 26, intends to use the funds to set up state-of-the-art private universities in Rajasthan and Himachal Pradesh and ramp up its K-12 offering Global Public School. The company will also invest part of the capital to strengthen its existing coaching business where it has launched the Syncho School (VSAT- enabled) and Knowledge Lab offerings.
CEO Pramod Maheshwari had established the coaching institute for engineering aspirants in Kota in 1993. As the national preparation hub for engineering entrance aspirants, Career Point gained national footprint with over 40 centers across the country with an annual student intake of over 30,000 students.
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