CapMan invests in Maximum Education

The investment was made alongside the Russia Partners Technology fund, which is managed by New York-based Siguler Guff.

Maximum Education will use the capital to expand the company's operations in Russia's test preparation market.

This is the third deal made through CapMan's second Russia-focused fund, which closed on €99.1m last year. CapMan Russia II fell short of its €175m target after the Ukraine conflict put a damper on fundraising, the GP's Moscow-based partner told unquote" at the time.

CapMan's most recent Russian investment was also in the education sector, acquiring a 40% stake in education entertainment services provider Kidburg in October 2014.

Company
Maximum Education is an offline and online provider of educational test preparation services, which was founded in 2013.

The company focuses on preparing students for Russian standardised school exams, and operates two learning centres in Moscow and St Petersburg under its own brand.

People
Mikhail Zotov is an investment manager at CapMan Russia and Michael Magkov is the CEO of Maximum Education.

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• Topics
• CEE
• Expansion
• Consumer
• Russia
• CapMan