Veta takes a Global stride
Chennai, October 04, 2007: Veta, Asia`s largest spoken English training academy with a successful footprint in India now plans to emulate the success by commencing its operations in Singapore by end of 2007. Veta also plans to diversify to other Asian countries subsequently. This would be the first time that an English Training Academy is pursuing its long term objective of making India a global hub. Veta, an ISO 9001-2000 certified organisation has secured funding from SAIF Partners, one of APAC`s largest private equity funds, for its expansion programme. Additionally, the academy is planning to inaugurate 60 owned spoken English Training Academies throughout the country in the next two months. SAIF Partners today announced that it has invested upto USD 10 million in Amoha Education Private Limited. With this investment, SAIF Partners has increased its investment in Indian portfolio to 14 companies, including NSE, Sify, IL&FS Investsmart, Intelligroup, Makemytrip.com, HomeShop18, JustDial, and SlashSupport, among others. Speaking on the occasion, Mr V. Ganesh Ram, Managing Director, Veta, said, "English is used as an official language throughout the world, and we are happy to extend our presence globally. It gives us great pleasure to set up more spoken English training centres not only in India, but also across other countries. Fluency in English is one of the key criteria for employment today, as more and more multi-national companies are establishing their presence across the world." He further added, "This equity investment will help us to continuously expand our operations not only in India but globally, particularly in China where SAIF has got considerable investments. This will in turn will help us to empower a new generation by training them to converse fluently in English." Speaking about the investment, Mr. Ravi Adusumalli, General Partner, SAIF Partners said, "Historically English has played a crucial role bridging the Indian society and business houses and the recent job requirements from sectors like IT/BPO, retailing, Hospitality, financial services have further fuelled the demand for people with fluent spoken English. We are confident that VETA with its unique teaching methodology and the leadership position in a highly fragmented sector will help provide quality training for meeting the varied professional requirements and we are very excited to partner with VETA on its expansion plan"