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Foundation Capital increases Tree House total funding to INR 100 crores

Mumbai, India, May 14, 2010 Tree House Education a leader in pre-school and K-12 education today announced that Foundation Capital has led a 40 crore second round of funding in the company. This new financing increases total funding in Tree House Education to 100 crore with 31 crore from Foundation Capital, 59 crore from existing investor Matrix Partners India and the rest from the promoters. Tree House currently operates 135 pre schools in owned as well as franchise formats, and has school management contracts for 12 K-12 schools nationally. A leading, branded provider of high quality education services for the mass market the company has witnessed rapid growth in the last 18 months with the addition of over 100 pre-schools and 12 K-12 schools. With the completion of this financing, Ashu Garg of Foundation Capital will join the board of Tree House Education. “Our association with Matrix Partners India helped the company grow rapidly in the last 18 months. Foundation Capital and Matrix Partners India bring to the table a team of highly professional investors who along with the management team at Tree House will take the company to greater heights” said Rajesh Bhatia, Chairman and Managing Director, Tree House Education. “Treehouse is transforming education in India and is poised to become the market leader in providing pre-school and K-12 education” said Ashu Garg, Partner, Foundation Capital. “Rajesh and his team have a compelling vision and their ability to provide consistently high quality education across the country is very impressive.” “It is a privilege to work with an entrepreneur like Rajesh Bhatia. His sincerity of purpose and single minded dedication to building Tree House into an education industry leader allows a private equity investor to have greater impact. The company is on an exciting trajectory and we wish Rajesh and his team continued success” said Rishi Navani, Co–founder & Managing Director, Matrix India. About Tree House Education: Tree House, founded in June 2003, is a leader in pre-school and K-12 education. The company is the largest chain of pre-schools in Mumbai and the largest non-franchised pre-school company in India. Tree House has revolutionized the concept of pre-school pedagogy in India through the use of innovative teaching methods and child-focused personalized care. The company also has management contracts for 12 K-12 schools nationally. Further information is available at www.treehouseplaygroup.net About Foundation Capital: Foundation Capital is a venture capital firm with a single purpose: building great companies. It is this entrepreneurial spirit along with deep operational expertise that gives the partners the understanding, perspective, and enthusiasm to help promising companies in their formative stages. Foundation Capital targets innovative opportunities in consumer services, cleantech, consumer Internet, and Information Technology. Founded in 1995, Foundation Capital has over INR 11,000 crores under management, 125 + portfolio companies and has been associated with more than 14 IPOs. Further information is available at www.foundationcapital.com About Matrix Partners India: Matrix Partners India is an investment firm with INR 1,500 crores under management. The firm invests in companies targeting the Indian domestic market with a sector independent investment strategy focused on generating exceptional returns. The firm invests up to INR 125 crores in a company depending on its stage of development and has invested in several companies including BSFL, FIITJEE, Siesta Hospitality and Tree House. The Mauritius based fund’s investors include leading university endowments and family foundations. Matrix Partners has a global network of funds investing in the US, China and India with $2.5 billion under management. Further information is available at www.matrixpartners.in

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