Avenues: The World School, a for-profit education organization developing a system of top prekindergarten through 12th grade independent schools in the world’s major cities, has received a $75m capital investment.
Investors include LLR Partners, Liberty Partners and the company’s founders.
Avenues intends to use the funds to open a campus in Manhattan, as well as future domestic and international sites in cities including Mumbai, London, Buenos Aires and Chicago. Over the next 10 years, the company plans to open more than 20 campuses within major cities across the world.
Founded in 2009 by CEO Chris Whittle, the founder of the Edison Schools (today EdisonLearning), Benno Schmidt, the former President of Yale University, and Alan Greenberg, the former publisher of Esquire, Avenues will open its campus in fall 2012 in the Chelsea neighborhood of New York City.
In conjunction with the funding, David Stienes and Seth Lehr, LLR Principal and Partner respectilvely, will join the company’s Board.