OVERVIEW

For Eruditus, India’s leading executive education provider, scaling to over 1 million learners marked the beginning of its next chapter. To sustain this momentum and continue its global growth, Eruditus required a capital lender that understood its long-term vision and could move at the speed of its ambition.

Advancing a strong alliance since 2022, Eruditus secured a refinancing package of up to $150 million led by Mars Growth Capital, the joint venture between Liquidity and MUFG Bank, Ltd., with additional input by HSBC. The deal shows how Liquidity and Mars Growth Capital’s flexible, data-driven private credit support empowers innovative mid-market companies to seize expansion opportunities without sacrificing operational freedom.

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THE CHALLENGE: FUNDING GLOBAL AMBITION

Eruditus is a global EdTech leader, partnering with top-tier universities around the world to deliver professional executive education learning programs to learners globally. But maintaining leadership in a competitive market requires continuous investment in technology, curriculum innovation and geographic expansion.

To support continuous growth and operational scaling, Eruditus needed a financing structure that was:

1. Substantial: Capable of supporting a large-scale global operation.

2. Flexible: Offering room to scale up as opportunities arose.

3. Aligned: Backed by lenders who support its vision to improve the lives of learners worldwide through access to quality executive education.

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The Goal: Accelerate profitable expansion across international markets while reinforcing financial resilience.

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THE SOLUTION: DATA INSIGHTS WITH FINANCIAL STRENGTH

Leveraging Liquidity’s proprietary decision-science technology and MUFG Bank Ltd.’s financial strength, Mars Growth Capital structured a refinancing deal that perfectly aligned with Eruditus' growth trajectory.

The deal structure:

• Total commitment: Up to $150 million (Clubbed deal with HSBC).

• Mars Growth Capital portion: Up to $100 million.

• Structure: $130 million initial funding with a $20 million scale-up option.

• Use of proceeds: To support global growth, operational scaling and profitable expansion.

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THE IMPACT: FREEDOM TO INNOVATE AND SCALE

The refinancing provided Eruditus with the freedom of flexibility to execute its strategy to enhance its offering and expand its global presence without dilution. The financial runway provided by the facility meant that Eruditus could innovate without the pressure of immediate liquidity constraints.

“The refinancing reinforces our long-term growth strategy, giving us the financial flexibility to accelerate profitable expansion across international markets.”

– Ashwin Damera, CEO and Co-Founder at Emeritus and Eruditus. 

Key outcomes:

• Global expansion: The capital supported entry and growth in key international territories, partnering with more top-tier universities around the world.

• Operational resilience: The scale-up option ensured capital was available when needed, allowing Eruditus to seize new opportunities instantly.

• Validation of strategy: Liquidity’s decision-science rating provided objective, data-driven validation of Eruditus’ business health, reinforcing stakeholder confidence.

• Trusted alliance: Since 2022, Liquidity and Mars Growth Capital have supported Eruditus in reshaping executive education. The collaboration has grown into a trusted, value-driven alliance grounded in a shared vision for global educational innovation.

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“We view Liquidity and Mars Growth Capital as long-term strategic partners, not just capital providers. Built on a foundation of trust and a shared vision, our relationship is focused on scaling together.”

— Ashwin Damera, CEO and Co-Founder, Eruditus

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CAPITAL THAT THINKS AHEAD

The milestone refinancing shows how Mars Growth Capital, through Liquidity’s AI powered insights together with MUFG’s financial strength, serves as a unique growth enabler for mid-market innovators.

Rapid deployment for market opportunities

Quick access to capital is critical for market leaders. Liquidity’s AI and ML-driven underwriting allows Mars Growth Capital to assess complex business data rapidly to deploy capital faster than any firm in capital markets history.

True flexibility

The inclusion of a $20 million scale-up option demonstrates a commitment to future growth. This structure gave Eruditus’ founders the confidence that their capital lender grows in sync with their ambition, always on hand when needed to support each stage of the growth journey.

Global reach

With the backing of MUFG Bank, Ltd. (Japan’s largest bank), Mars Growth Capital provides the stability and global network necessary for companies operating globally.

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SCALE GLOBALLY WITH LIQUIDITY

Liquidity invests in visionary growth and mid-market companies around the world, deploying from $10 million to $200 million in flexible, tailored capital designed to scale in step with vision and ambition. Is your business ready for its next great chapter?

Visit liquidity.com to speak to our experts.

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