EQuest Education Group, a leading educational services provider in Vietnam, recently announced it has raised a new round of funding from global investment firm KKR.
The company, however, did not disclose the amount of the new investment. According to a press statement, KKR made the investment through the KKR Global Impact Fund, which marks the Fund’s fourth investment globally in the educational and workforce development space as part of the Fund’s thematic focus on lifelong learning.
EQuest, which was formed through a merger in 2013 between EQuest Academy (founded in 2003) and other local education companies, operates a diversified portfolio across the educational sector in Vietnam, focusing on four core segments including K-12 bilingual schools, tertiary and vocational institutions, English enrichment courses, and digital learning solutions. The company is one of the largest private educational services providers in Vietnam with more than 110,000 students enrolled annually in its member units, including K-12 schools, universities, vocational institutions, foreign language schools, and various education technology platforms.
The education group is on a mission to deliver the best educational experience to students and prepare them for the 4.0 industrial age; to provide a world-class education at an affordable cost; to turn Vietnam into a bilingual country; and to send future leaders to the top schools worldwide.
Speaking about the company and how the latest investment will help them, Nguyen Quoc Toan, Co-founder & CEO of EQuest, said,
“Access to high-quality education and intensive English-language training is crucial for Vietnamese students to achieve their full potential. By making the access affordable at a disruptive cost, EQuest is committed to delivering world-class education and bringing accredited, world-class curriculum to more Vietnamese students to improve their competiveness in the global arena.
With the support of KKR and its sector expertise, we are confident we will be able to advance our mission to provide quality learning for Vietnam’s millions of students and contribute to the development of a skilled workforce that will support the country’s long-term growth aspirations.”
The company said it will use the new investment to support its expansion and advance its mission to provide students in Vietnam with affordable access to a world-class education.
Chee-Wei Wong, Head of KKR Global Impact for Asia, commented on the investment,
“KKR Global Impact’s thematic around Lifelong Learning focuses on closing the skills gap and creating more equitable access to quality education. EQuest advances these goals: we believe lifelong learning starts at an early age and EQuest is supporting the development of the next generation through its high-quality affordable education programs with strong outcomes. KKR aims to leverage our operational experience, global network and education expertise to strengthen EQuest’s market-leading position, further build on its EdTech solutions, and implement industry best practices. We look forward to working together with EQuest’s management team to advance the company’s mission and expand the reach of its impact across Vietnam.”
With “The Quest for Excellence” as the motto, EQuest has set its vision to be in the top three private education groups in terms of the number of enrolled students and to be the No.1 in terms of influence on the education sector in Vietnam by 2025.