PHINMA Education Holdings, Inc. (PEHI), a fast-growing network of schools in the Philippines, that includes PHINMA University of Iloilo, welcomed new partners in its mission to provide quality education to underserved youth in Southeast Asia.
“Our academic and business model is designed primarily to cater to the needs, challenges, and aspirations of underserved youth. The company brings in partnerships that will support our mission in the Philippines, and the rest of the region as well,” said PHINMA Corporation President and CEO Ramon R. del Rosario, Jr.
PHINMA Education’s new partners are Indian-based private equity firm Kaizenvest, the Dutch entrepreneurial development bank (FMO), and Asian Development Bank (ADB). The ₱1.875-billion partnership will support PHINMA Education’s acquisition and operation of schools in strategic urban areas.
Kaizenvest is known for its focused investments in education companies that can deliver critical outcomes at scale using innovative business models, new technologies or unique, technology-enabled services.
“We are proud to partner with PHINMA as it expands its higher education offering within the Philippines and abroad. As an education focused investor, we see PHINMA as a leader in the role private education can play in supporting the national education ecosystem,” said Kaizenvest Managing Partner Sandeep Aneja. This is the firm’s first investment in the Philippines.
For FMO on the other hand, the partnership with PEHI is its first direct investment in an educational enterprise. Its previous financing activities in the Philippines have been in the banking, microfinance, agriculture, and energy sectors.
“Better access to education uplifts the lives of underserved youth and thus reduces inequality. That is why we are pleased to partner with PHINMA to expand its provision of quality education in Southeast Asia,” said Jaap Reinking, Director Private Equity at Dutch entrepreneurial development bank (FMO).
PHINMA Corp and PHINMA Education officials with partners from Kaizenvest, Dutch entrepreneurial development bank FMO, and the Asian Development Bank (ADB). PHINMA Education taps new partners for its local and regional expansion plans.
Meanwhile, Christopher Thieme, Deputy Director General for the Private Sector Operations Department at the Asian Development Bank, added, “We are pleased to work with PHINMA Education to make quality tertiary education more accessible and equitable. ADB will help PHINMA Education bring its innovative yet affordable education model to Indonesia and other ASEAN countries to accelerate human-capital development across the region.”
The Asian Development Bank (ADB) is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. ADB, through its Private Sector Operations Department, supports companies that empower communities through better jobs, higher incomes, and improved access to health and education.
“The continued intent to expand is evidence of our confidence in the sector, anchored on our mission of providing accessible education that leads to gainful employment and uplifts the lives of underserved youth and their families,” del Rosario added.
PEHI is the education services subsidiary of the conglomerate PHINMA Corporation. It owns and operates seven schools across the Philippines including PHINMA University of Iloilo located in Iloilo, and two more in Myanmar and Indonesia. Horizon Colleges in Karawang, West Java is the first in a planned network of schools in Indonesia through PHINMA Education PT Ind Phil Management.