HEAL Partners Fund II invests in leading Global Edutech firm Crimson Education Series D round
HEAL Fund II invests US$15M as a follow-on to HEAL Fund I first investment into Crimson in June 2021
HEAL Investment Partner Martin Dalgleish joins the Crimson Board
Third investment in HEAL Fund II, which recently second closed at ~A$200M
Crimson Education is becoming the platform of choice for aspirational, ambitious students, teachers and parents in all corners of the globe
Sydney, 5 November 2024: HEAL Partners ("HEAL"), a global growth and follow-on investment firm specialising in Health and Education sector investments, announces a US$15M investment into Crimson Education, the leading global College Admission Consulting and online school provider.
Commenting on HEAL’s investment, Investment Partner Martin Dalgleish, who will be joining the Board of Crimson, said:
“Since HEAL first invested in Crimson in June of 2021, we have seen it grow 255% in revenue as it has established as the World’s leading College Admission Consulting business. The true measure of its performance is the success in gaining placements to the top schools in the US and UK well ahead of the global acceptance rates, and in doing so it has opened up access for ambitious students, wherever they may be. We see that trend continuing, and with the continued growth of its digital School offering, Crimson Global Academy, we see exciting growth ahead for Crimson. ”
HEAL Fund II has completed three investments to date, and finalising a fourth investment prior to year end
HEAL Fund II, a healthcare and education sector focused, late-stage growth and follow-on fund, is targeting A$ 400 million+ in commitments. Fund II is backed with an anchor commitment from affiliates of Elliott Investment Management L.P.
“Approximately half of the Fund II portfolio is likely to comprise follow-on investments into Fund I companies. The follow-on strategy for Fund II allows us to double down on the best performing businesses from Fund I and back management teams we have built strong and trusted relationships with. This derisks the investment proposition for our Fund II investors”, said HEAL Managing Partner Martin Robinson”.
Alongside Crimson, Fund II has also completed two follow-on investments into market leading businesses. This includes a US$ 32 million (A$ 47 million) investment in Removery, the world’s leading tattoo removal platform and only tattoo-removal platform of scale globally, and a C$ 25.5 million (A$ 27.5 million) investment in The Fertility Partners, Canada’s largest IVF clinical network and one of the largest fertility platforms in North America.
In aggregate, Fund II is targeting a portfolio of approximately eight investments.
Fund II achieved its first closing in January 2024 and has set a deadline of 30 June 2025 for final close.