Monday, May 2, 2011

ON Mauritius (Omidyar Network) invests through pre-IPO financing in Tree House Education & Accessories Limited

Tree House, one of the leading providers of educational services in India, today announced that ON Mauritius, a subsidiary of Omidyar Network, has invested through pre-IPO financing in the Company. The financing, which includes existing investors Matrix Partners India Investment Holdings LLC (Matrix Partners India) and FC VI India Venture (Mauritius) Limited (Foundation Capital), was approximately Rs. 19 crores.


One of the leading providers of affordable, quality education services in India, Tree House currently operates 177 pre-schools in self-operated as well as franchise formats. The Company trains and employs qualified and experienced teachers, uses a standardized curriculum across its pre-schools, maintains quality standards across its entire network, and has an average teacher student ratio of 1:14 at its self-operated pre-schools.

About Tree House Education & Accessories Limited

Tree House, incorporated in July 2006, operates the largest number of self-operated pre-schools in India. (Source: CRISIL Report December 2010). Tree House has adopted innovative teaching methods and child-focused personalized care. The Company also has management contracts for twelve K-12 schools nationally.


About ON Mauritius

ON Mauritius, a subsidiary of Omidyar Network, is a private company limited by shares, incorporated under the laws of Mauritius.

About Foundation Capital

FC VI India Venture (Mauritius) Limited is a limited liability company incorporated under the laws of Mauritius.

About Matrix Partners India

Matrix Partners India Investment Holdings LLC incorporated under the laws of Mauritius. Matrix is registered as a Foreign Venture Capital Investor with Securities and Exchange Board of India