Amanat Holdings, Dubai’s education and healthcare investment company has invested $5 million (Dhs18.4 million) to BEGiN, a US-based educational technology company.
The edu-tech company behind the early learning program HOMER, BEGiN concentrates on early childhood education through a platform targeted at children between the ages of two and eight.
Amanat is becoming the main strategic partner of BEGiN in the MENA region as part of the investment, leveraging its business experience and network to help drive growth in the region.
Amanat joins investors, such as Gymboree Play & Music, Interlock Partners, LEGO Ventures, Sesame Workshop, Trustbridge Partners and 3One4 Capital.
Neal Shenoy, CEO and co-founder, BEGiN said, “BEGiN is partnering with the largest, most recognized brands in international children’s education, entertainment, and technology to reimagine the early learning journey starting with parents and children at home”.
This acquisition is the first-ever venture capital investment by Amanat and is in line with Amanat’s objectives of investing in education and healthcare technology.
It also strengthens Amanat’s commitment to the digitization of the education and health sectors in the region.
“Our investment in BEGiN represents a major milestone for Amanat given the influential impact of disruptive technologies on the sectors we invest in. We believe this is an ideal time to invest in education and healthcare technology, to evolve our current portfolio as well as position Amanat as a strategic regional partner amongst global players in this space. We are looking at opportunities that are changing the provision of conventional academia and healthcare and we believe there is potential for further acquisitions of this nature down the line.”
In 2018, a 35 percent stake in Abu Dhabi University Holding Company (ADUHC) was purchased by Amanat Holdings.
Recently, BEGiN launched the early learning program, HOMER Learn & Grow, extending the reading program to include additional subjects such as mathematics, imagination, socio-emotional learning and critical thinking skills through interactive, physical and in-person learning experiences.
The education network of Amanat includes Abu Dhabi University Holding Company, a provider of higher education; Middlesex University Dubai, Middlesex University’s first overseas campus in London and Taaleem, a UAE provider of K12 and early education.
Amanat also owns the real estate assets of the North London Collegiate School in Dubai, UAE.
Meanwhile, the healthcare platform of Amanat includes the International Medical Center (IMC), a multi-disciplinary 300-bed hospital based in Jeddah, Saudi Arabia; Sukoon, a provider of extended acute care, critical care and home care facilities in Jeddah, Saudi Arabia; and the Royal Hospital for Women and Children (RHWC), a world-class women and children’s hospital located in Bahrain.