The Mekong Enterprise Fund III under Mekong Capital has invested US$4.9 million in YOLA Education JSC (YOLA) for a minority stake.
The YOLA deal is the sixth investment Mekong Enterprise Fund III (MEF III) has announced so far.
YOLA will use the capital investment provided by MEF III to “strengthen the quality of products and services, build its team of professional managers and teachers, and finance the launch of new campuses,” MEF III said in its statement on Monday.
YOLA has already opened four new campuses in HCM City with capital from MEF III, according to the investment fund, raising the total number of education campuses to 10 across the country.
“YOLA aims to deliver high-quality English and skills education in Viet Nam and Southeast Asia. More than just English, we believe in empowering YOLA students to build critical thinking skills, communication skills, self-awareness, a deep sense of purpose and ultimately realise their full potential,” said Tu Ngo, Co-founder and Vice President of Strategy and Products of YOLA.
She said the education centre would leverage its partnership with Mekong Capital to further develop teachers and talents, curriculum innovation and new learning technologies.
More Vietnamese students would be better prepared for a global education and succeed in an international environment, said Sjoerd Zwinkels, Mekong Capital’s Deal Leader for YOLA.
Both sides shared a mutual commitment to provide high-quality education for Vietnamese people and children, and empower students to fully reach their dreams and potential, he said.
YOLA was founded in 2009 to "change lives through education". The English training centre has evolved from an English online learning network into a provider of educational services with a broad range of learning campuses in HCM City and Ha Noi.
The education centre is known for its expertise in overseas test preparation programmes such as IELTS, TOEFL and SAT, and content-based English training programmes for teenagers.
MEF III is a private equity fund of the private equity firm Mekong Capital, which was launched in May 2015. MEF III focusses on investing in Vietnamese consumer-driven businesses in the retail, consumer products and consumer services sectors. — VNS