What does it take to scale world-class executive education to over one million learners globally? For Eruditus Executive Education, it takes vision, global partnerships and capital that moves at the pace of ambition. 

Propelled by up to $150 million refinancing led by Mars Growth Capital, Liquidity's joint venture with MUFG Bank, Ltd., with a contribution from HSBC, Eruditus is stepping into its next great chapter.

Liquidity sat down with Ashwin Damera, CEO and Co-Founder at Emeritus and Eruditus, to find out more about working with Mars Growth Capital since 2022 and how the fund’s founder-first approach has propelled Eruditus’ global expansion.

What will this $150 million refinancing help Eruditus achieve?

The refinancing supports our long-term growth strategy by providing us with the flexibility to continue driving profitable growth in our international markets. It enables us to reinvest in key growth areas, from AI-driven innovations that enhance the learner experience and improve outcomes at scale to expanding our enterprise partnerships to deepening market presence across APAC, the Middle East, and beyond.

How did Liquidity’s decision-science rating reinforce confidence in your growth strategy and fundamentals?

Liquidity’s decision-science rating provided an objective, data-backed validation of what we’ve long believed about our business: that our strategy for scaling globally and profitably is both sound and sustainable. Their rigorous, data-driven focus on efficiency and financial resilience aligned closely with our own metrics and goals.

How did your relationship with Mars Growth Capital begin?

Our relationship began in 2022 through an introduction from one of our key investors. Since then, it has grown steadily stronger, thanks to the team’s transparent approach, deep understanding of our needs, and consistent flexibility. Their partnership mindset has been instrumental in building trust and aligning with our long-term goals. 

What sets Mars Growth Capital apart as a funding provider?

What sets them apart is their flexibility in structuring the deal, their transparency throughout the process, and their perseverance to get it over the line. This allowed us to focus on what matters most: delivering affordable education solutions at scale, while being profitable and growing sustainably. Having a partner that’s proactive and easy to work with is incredibly valuable. Mars has consistently shown up for us, not just with capital, but with a mindset of partnership, and that’s made a real difference in our growth journey.

What impact has Mars Growth Capital's support had on your business?

Today, we’ve impacted over 1 million lives across 80+ countries through more than 700 professional learning programs, created in partnership with over 85 top-tier universities worldwide. These programs, ranging from industry-recognised certifications and professional certificates to workforce leadership development, are designed for real outcomes, with high-touch engagement through mentoring, coaching, and career support. 

With an 85% course completion rate among professional learners, the results speak for themselves. Mars has been instrumental in enabling this scale and impact, providing the support and flexibility that allowed us to grow while staying true to our mission of making high-quality education accessible and effective for individuals and organisations globally.

What does the future hold for this business relationship?

The future of our relationship is one of continued partnership, collaboration, and mutual growth. We see Mars and Liquidity as long-term strategic partners, not just capital providers.

With a strong foundation of trust and shared vision, we’re focused on scaling together: driving profitable growth, deepening engagement with learners and partners, and delivering value across the board.

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Looking to scale your business across APAC and beyond? Reach out to Mars Growth Capital’s CEO Navas Ebin Muhammed to start the conversation.