- Apollo Education Group, the for-profit owner of the University of Phoenix, has entered the Brazilian market with a majority interest purchase of Sociedade Técnica Educacional da Lapa, which provides college programs in the country.
- The company offers courses under Faculdade da Educacional da Lapa, or FAEL, to 12,000 students through one campus, 113 learning centers, and online offerings.
- Apollo also recently announced the formation of Apollo Education Ventures, a venture capital fund that will make minority-stake investments in companies in post-secondary education, professional development, and human capital management.
On the online education side of the ledger, Apollo’s expansion will help it compete against Coursera and Veduca in the market. Apollo acquired a 75% interest in the Brazilian company for $28.9 million. Apollo is partnering with Touchdown Ventures, which is itself a new venture, to help source and manage the investments, EducationInvestor reported. Besides the U.S. and Europe, Apollo has a presence in Africa, Australia, Latin America, and Asia.