Abu Dhabi, UAE — Mubadala Investment Company (Mubadala) announced today that it is investing in Avanse Financial Services Ltd. (Avanse), India’s education-focused non-banking financial company (NBFC).
Mubadala led this round of funding through its affiliate Alpha Investment Company with participation from Avendus PE Investment Advisors Private Limited via its fund Avendus Future Leaders Fund II.
The funds will enable Avanse to strengthen its position in the rapidly evolving education financing segment, focusing on creating unique customer experiences and achieving sustained profitable growth.
This investment marks Mubadala’s first in the financial services sector in India and is part of a plan to double the company’s exposure in Asia by 2030.
Avanse is the second largest NBFC in the education finance space in India. The company has also provided growth and working capital to Indian educational institutions. As of December 2023, the company’s AUM stands at around AED5.5 billion.
“Avanse will continue to enable young generations of Indian students to fulfil their aspirations. We are thrilled to partner with Amit and the management team of Avanse alongside institutions of the caliber of Warburg Pincus, Kedaara Capital and the IFC. We look forward to further enabling the growth of the business,” said Luca Molinari, Head of Asia and Financial Services at Mubadala.
Amit Gainda, Managing Director and CEO, Avanse Financial Services, said, “The growth capital will enable us to strengthen our brand proposition, integrate digital solutions and innovate to build more depth into our product range as we work towards delivering greater stakeholder value.”
