The education group hopes to use the tens of millions of investment to roll out additional products and boost international expansion efforts.
AD Education, a France-based education group focused on the creative industries, has attracted capital from investors including Bpifrance, the country’s public investment bank, China Money Network reported today.
The deal is worth tens of millions of euros (€10m = $11m), though the precise amount has not been disclosed. Private equity firm Cathay Capital led the round through its Sino-French SME Fund.
Founded in 1990, AD Education operates a total of 11 campuses across six institutions in France and one in Italy focused on the creative economy – École de Condé, École Supérieure du Parfum, Ecole Supérieure de Publicité, Ecole Supérieure du Digital and IAAD.
The schools offer degrees in disciplines such as illustration, graphic design, animation and perfumery.
The capital will support an acceleration of the group’s expansion across Europe and the development of digital products, though details remain undisclosed. The group also hopes to attract more international students, focusing particularly on the US and China.
Mingpo Cai, president of Cathay Capital Private Equity, said: “The family history, the entrepreneurial spirit and the group’s focus on excellent French savoir-faire convinced us of AD Education’s strong potential in Europe but also on an international level. Especially in China and in the United States, where we will support the group’s developments.”