Posted on 13 July, 2021
Zephyr Peacock invests in small and medium sized enterprises operating across financial services, food and agriculture, and infrastructure ancillaries sectors. The Fund identified education finance as a high growth sector and invested in MPOWER Financing, a provider of education loans to international students pursuing higher education in North America. MPOWER has raised $100 million funding from Tilden Park Capital Management, King Street Capital Management, Drakes Landing Associates, and Pennington Alternative Income Management.
Below is an excerpt from the post that first appeared on The Economic Times on 13 July 2021:
MPOWER Financing, which provides education loans, on Tuesday said it has raised an equity investment of USD 100 million (about Rs 744.8 crore) from Tilden Park Capital Management, King Street Capital Management and others.
The new funding is in addition to the USD 30 million raised by the company earlier this year from Tilden Park Capital Management, which also participated in the current round, and ETS Strategic Capital on behalf of ETS, a statement said.
"Other investors in the current round include King Street Capital Management, Drakes Landing Associates, and Pennington Alternative Income Management," it added.
Founded in 2014 by Emmanuel (Manu) Smadja, MPOWER Financing aims to democratise education by reducing financial barriers for high-promise students from India and other countries.
"The new funds will be used to directly support students, automate and scale our operations, and to grow our team in Bengaluru. We look forward to supporting an even greater number of qualified students around the globe as they study in the US and Canada," MPOWER Financing Chief Executive Officer Emmanuel (Manu) Smadja said.
Zephyr Management is a global emerging markets investment manager, specializing in the creation and management of highly focused private equity funds
Since its inception in 1994, Zephyr has sponsored and/or managed 26 investment funds in both public and private securities markets representing approximately $1.2 billion in combined commitments and assets under management
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Investment activities are currently focused on India, Sri Lanka and Africa.
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