Edtech unicorn Eruditus Education Pvt Ltd said that it had raised $350 million, or about Rs 2,696 crore, in debt capital from Canada Pension Plan Investment Board’s (CPPIB) credit arm to invest in mergers and acquisitions (M&As) to expand its global footprint.
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In January, Eruditus’s co-founder and chief executive officer (CEO) Ashwin Damera told VCCircle that the company plans to invest about $1 billion for M&As in 2022.
“Our mandate is to deploy anywhere between $750 million and $1 billion in M&As over the next 12 months, and so we are looking at various opportunities in different spaces,” Damera said.
