The PE giant Blackstone to acquire primary stake in Edtech company Simplilearn.
The Blackstone Group Inc. is investing $250 million in primary and secondary funding to become the main stakeholder for the Edtech startup, Simplilearn Solutions Pvt. Ltd. The private equity major will pick up more than 60% of its funds in doing so. It valued the e-learning company at $400 million.
As announced on Monday, the transaction will see the resulting exit of its former investors, Kalaari Capital, Helion Venture Partners, and Mayfield Fund. The firm had so far raised $28 million. However, the founder and Chief Executive, Krishna Kumar will continue to run operations in the firm.
Simplilearn provides online education and in-house training for professional certification courses. It includes Dig...