Centum Learning, a Bharti associate company, on Tuesday raised Rs 40 crore from the Mayfield India Fund. This is Mayfield’s fifth investment.
Centum Learning is into undergraduate and postgraduate programmes. It is also engaged with state governments to develop skilled manpower.
Mayfield raised $110 million (Rs 508 crore) from its India-dedicated fund in December 2008, and it started investing in early 2009. So far, it has made direct investments in Satya Paul, Geodesic Techniques Fourcee and Paymate. It has invested 35-40 per cent from its first fund.
“We will look at another four-five investments,” said Managing Director Vikram Godse. The firm has made an average investment of $10-15 million (Rs 45-70 crore) in each company. After the existing fund is exhausted, the firm will raise its second fund.