BENGALURU: Vista Equity Partners, one of the the world’s leading private equity firms, together with several of its companies in India, partnered with Akshaya Patra by pledging a contribution of $1 million over the next five years.
The fund is aimed at aiding the Foundation’s mid-day meal plan. Robert F Smith, Founder, Chairman and CEO of Vista Equity Partners announced the collaboration along with Hardeep Gulati, CEO of PowerSchool, and Shridhar Venkat, CEO of The Akshaya Patra Foundation. The pledge was announced during the opening of the new offices of the education- technology firm, PowerSchool. The initial investment will be used to purchase trucks to transport meals to schools in various areas of the country.
With $200,000 granted each year, contributions will aid the delivery of meals to 80,000 students per day, and over 18 million meals per year, a release said. “Our culture at Vista emphasizes the importance of positively impacting and engaging with the communities in which we live and work,” said Robert F Smith.
“By ensuring that students across India have the nourishment they need to be able to learn, the foundation plays an integral role in the education of Indian youth, and we are honored to help them execute on their mission,” he said. Shridhar Venkat said the commitment will immensely expand Akshaya Patra’s ability to deliver meals to schools and students across India, and will help serve 5 million children by 2020.