Shiksha raises $1m from Aspada, Michael & Susan Dell Foundation

The Michael & Susan Dell Foundation (MSDF) and Aspada Investment Company have raised INR 6.7 crores (USD 1 million) through the acquisition of debentures in Chennai-based school financing firm Shiksha Financial Services, a non-banking financial company focusing on school and student loans.

Micheal & Susan Dell Foundation were acted upon and advised by AZB & Partners represented by senior partner Hardeep Sachdeva along with senior associate Anshuman Singh. The foundation has been a long-standing client of the firm and Sachdeva.

Shiksha, incorporated in 2014, provides loans to schools to help develop infrastructure and loans for students to help families from lower-income groups finance the education of their children and is currently active in the states of Tamil Nadu, Karnataka, Andhra Pradesh and in Puducherry.