Frameboxx, IIFM get Rs 28 crore investment from private equity
PTI | 05:09 PM,Sep 06,2010Bangalore, Sep 6 (PTI) Frameboxx Animations, country's leading Animation and Visual Effects training institute which has recently tied up with Indian Institute of Financial Management, has announced that private equity firm India Alternatives Investment Advisors Private Limited will be investing Rs 28 crore in the combined entity. The investment follows the creation of a platform by way of a merger between Frameboxx Animations, an animation training firm, and the Indian Institute of Financial Management, which offers MBA programs and vocational training in financial services, a release said. The PE firm would hold a significant minority stake in the combined entity which provides training and higher education courses including MBA, financial services as well as media and animation. Naveen Gupta, CEO & Executive Director, Frameboxx said, "India Alternatives which is sponsored by the promoter of Centrum Group Chandir Gidwani foresees tremendous opportunities in the education sector" . Jagmohan Bhanver,CEO, IIFM said, "the existing international tie ups of IIFM and Frameboxx coupled with strong industry involvement in all the programs will deliver world class education with high employability." Shivani Bhasin Sachdeva, CEO of India Alternatives, said, �education sector in India is an $80-billion dollar opportunity. We have created this exclusive transaction by combining two players to form a unique platform in the education sector.� India Alternatives has also roped in Anjani Jain, Vice Dean of The Wharton School, to provide strategic guidance to portfolio companies in the education sector. It will have over 50 centres offering animation training and more than 20 offering vocational programmes in finance (wealth management, financial planning and insurance management) and a pan-India presence of MBA centres.
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