Michael & Susan Dell Foundation invests $3 million in Varthana
Varthana is aiming to improve the quality of learning in affordable private schools
Michael & Susan Dell Foundation has invested USD 3 million in Bangalore-based school financing company Varthana in order to expand its School Transformation Program (STP).
Varthana is aiming to improve the quality of learning in affordable private schools.
The total investment in the proposed expansion of the STP is USD 10 million, of which the Michael & Susan Dell Foundation has contributed USD 3 million through an innovative pay-for-performance debt facility.
The innovative facility allows participating schools and Varthana to be rewarded up to 10 percent of the loan amount for improving student learning outcomes by 5 to 10 percent.
Rahil Rangwala, Program Director, Michael & Susan Dell Foundation, said, “The foundation will work with Varthana to ensure that we support and help school leaders to focus on the key drivers of improvement. We are hoping that the demonstrable change will be a win-win situation – not only will schools earn rewards, but students and parents will be better off as well, which is central to our mission.”
Through the STP, Varthana provides debt financing, high-quality assessments, hands-on support, curated vendor connections, and financial rewards – all collectively aimed at driving learning improvements in 337 participating schools across five states. Reaching more than 200,000 learners, it is the largest such effort in India.Steve Hardgrave, cofounder & CEO of Varthana said, “Through this unique initiative, the Michael & Susan Dell Foundation is helping Varthana take another step towards enhancing the educational outcomes of children attending affordable private schools. Building on this success, we hope to further expand the School Transformation Program in the coming years.”