Vietnamese education firm EQuest receives backing from KKR

Vietnamese education firm EQuest Education Group said it has received an undisclosed amount from US investment major KKR through one of its funds.

KKR Global Impact’s investment in EQuest marks its fourth injection in the educational and workforce development space globally, according to a statement.

Image credit: Tech in Asia

EQuest was formed in 2013 through a merger between EQuest Academy and other local education companies. It operates a portfolio of edtech offerings that focuses on four core segments: K-12 bilingual schools, tertiary and vocational institutions, English enrichment courses, and digital learning. Its education partners include 789.vn, Ivy Global School, Phu Xuan University, and Vietnam American College.

EQuest said it will use the new funds to bankroll its expansion efforts. According to the company, it currently has over 110,000 students enrolling across its segments each year, which positions it as one of the largest private educational providers in Vietnam.

“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,” said Chee-Wei Wong, head of KKR Global Impact for Asia.

See also: The players shaping Vietnam’s emerging edtech sector

In addition to the investment, EQuest and KKR announced that Annabelle Vultee, EF Education First’s former chief operating officer for China, has joined EQuest’s board of directors.