KKR’s Global Impact Fund backed $120 M funding secured by edtech firm EQuest
EQuest Education Group (EQuest), a Vietnamese company that develops educational technology, has announced the successful raising of $120 million through a combination of debt from creditors and equity from its current investor KKR’s Global Impact Fund.
According to a statement released by EQuest on Friday, the money will be used to expand the Broward College Vietnam campuses in Hanoi, Hue, and Ho Chi Minh City as well as to invest in the Canadian International School (CIS) System in Ho Chi Minh City.
The largest international K–12 school system in Ho Chi Minh City is the CIS System.
In addition to a world-class sport program, it offers a comprehensive curriculum that includes the International Baccalaureate (IB), Advanced Placement (AP), and Canadian curricula.
With the help of this investment, the CIS system will be able to improve its facilities, hire top-tier sports coaches, and recruit the most talented educators.
“This substantial investment will position CIS as the most financially robust international school system in Vietnam, ensuring long-term financial stability without compromising on the highest educational standards,
“This will instill strong confidence in parents seeking a holistic international education for their children,” said Thẩm Mỹ Linh, Managing Director of the CIS system.
The new investment will also be used to launch numerous Broward Vietnam campuses in Hanoi, Hue, and Ho Chi Minh City in order to provide the four-year American bachelor’s degree programs.
The prestigious Aspen Institute has repeatedly named Broward College, a member of the Florida College System, as one of the top 10 public colleges in the US.
Under the name Broward Vietnam, EQuest has provided associate’s degrees that are fully accredited for more than ten years.
Under the plan, students will be able to earn their entire US bachelor’s degree in Vietnam for a cost of $7,000 per year, saving on the cost of international travel.
“This significant investment reinforces our commitment to provide a world-class education at an affordable cost,
“Now a significantly more number of Vietnamese families and students can experience a true US university education right here in Vietnam,” said David Armstrong, Senior Vice President of EQuest.
The founding president of Fulbright University Vietnam, àm Bch Thu, was also appointed by EQuest as an independent board member, effective May 15, 2023.
With more than 362,000 students in an ecosystem ranging from K–12 to colleges, universities, and educational technology (EdTech) across the nation, EQuest is one of the largest private educational institutions in Vietnam.
