LDC, the Manchester private equity firm which recently took a minority stake in CTI Group and Aspire Technology Solutions, has invested in a virtual reality learning technology firm.
Avantis will use the cash to expand into international markets, with a focus on the USA.
The move marks LDC North West team’s fifth investment in last 12 months.
“The team at Avantis are bringing industry-leading technological solutions to the education market that support better outcomes for students,” explained Aziz Ul-Haq, Partner at LDC in the North West, who will join the board alongside Investment Manager, Grant Goodwin.
“We’re looking forward to working to supporting the business reach even more students across the world.”
Founded in 2007, Avantis markets its learning products in more than 90 countries and has also developed the world’s first VR system for classrooms.
ClassVR offers VR and AR through a complete system of hardware, software, content and teacher controls to immerse students in a wide range of experiences.
It has recorded revenues of over £20m in the last 12 months.
Former Texthelp CEO Mark McCusker is joining the board as Non-Executive Director. Texthelp was previously part of the LDC portfolio.
“It’s been fantastic to see so many schools globally embrace the power of virtual reality and we’re excited to be working with LDC to support our next phase of growth. LDC’s sector experience from supporting leading ed-tech businesses like Texthelp was crucial when choosing a private equity partner to support our vision,” added Huw Williams, Managing Director at Avantis.
