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Topica Edtech Group raises $50 mn in series D round

Released at: 17:06, 28/11/2018

Topica Edtech Group raises $50 mn in series D round

Photo from itviec.com

Vietnamese online education enterprise raises funding from Singapore's Northstar Group.

by Minh Do

The Hanoi-based Topica Edtech Group has announced it raised a $50 million in a series D round led by private equity company the Northstar Group.

An education technology company in Southeast Asia with over 1,700 employees, Topica’s existing investors include Openspace Ventures, Patamar Capital, CyberAgent Ventures, EduLab Group, and IDG Ventures.

This is the Singapore-based Northstar Group’s largest investment in an online education enterprise in Southeast Asia. It currently manages more than $2 billion in committed equity capital, dedicated to companies in Indonesia and, to a lesser extent, elsewhere in Southeast Asia. It has a track record of growing the businesses of its companies over its investment horizon.

Since its founding in 2003, the Northstar Group has raised four private equity funds and invested in more than 30 companies across the banking, insurance, consumer retail, manufacturing, oil and gas, coal and mining services, technology, telecom, and agribusiness sectors.

Topica Edtech provides online English-speaking classes, with over 2,000 short skill courses using English-language video teaching materials, and a platform that enables 12 universities in the region to offer online programs and issue online certifications.

Established in 2008, it also runs several programs that groom entrepreneurs.

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