Minerva Virtual Academy, an online school for teenagers, has secured a strategic investment from Phoenix Equity Partners. The deal was advised on by dealmakers from Deloitte, Cairneagle, Coppett Hill, Addleshaw Goddard, EY, Grant Thornton, L.E.K. Consulting and McDermott Will & Schulte.
The investment – financial terms have not been disclosed – is intended to support Minerva Virtual Academy in its next phase of growth.
Launched in 2021, Minerva Virtual Academy was founded on the mission that every child should enjoy school, placing student happiness, mental health and safety at the centre of its learning model. The educational institution delivers British curriculum education through its virtual learning platform, including live teacher-led lessons, weekly one-to-one mentoring, and access to more than 40 extracurricular clubs.
Its model has rapidly gained popularity, growing to more than 1,500 full-time students across 60 countries. With the funds and backing from Phoenix Equity Partners, Minerva Virtual Academy now aims to make its education programmes available to significantly more students around the world.
“Phoenix Equity Partners is the best possible investor we could have hoped for. They are fully aligned with everything that makes Minerva Virtual Academy special, and we’re excited to be working with their team for the next chapter of our journey,” said Hugh Viney, Founder and CEO of Minerva Virtual Academy.
“We will continue to realise our mission to provide a world-class alternative to traditional schooling that puts the whole child first – academically, emotionally and socially,” he added.
M&A advisors
Minerva Virtual Academy was supported during the deal process by Grant Thornton (corporate finance, financial and tax due diligence) and L.E.K. Consulting (strategic and commercial). Legal support was received by McDermott and Will & Schulte.
On the buy-side, Phoenix Equity Partners was advised by Deloitte (corporate finance), Cairneagle (strategic and commercial), EY (financial and tax due diligence), and Coppett Hill (commercial strategy). Addleshaw Goddard provided legal expertise.