Mekong Capital’s Mekong Enterprise Fund III has invested $4.9 million in purchasing a minority stake in the education firm the YOLA Joint Stock Company, the fund’s sixth investment.

“YOLA as an organization is led by a team of exceptional founders who have successfully built a platform to realize their long-term objectives. We share a mutual commitment to contribute to high quality education for Vietnamese families and children and as such, empower the children of today to reach their dreams and full potential,”  said Sjoerd Zwinkels, Mekong Capital’s deal leader for the investment.

With the investment from Mekong Capital, the company has opened four new training centers in Ho Chi Minh City, bringing the total number of YOLA campuses to ten nationwide.

The investment will help YOLA enhance its products and services, build its team of professional managers and teachers, and finance the launch of new campuses.

“We are excited to have entered into a strategic partnership with Mekong Capital, as they have strong experience in adding value to private companies in Vietnam and also the educational sector,” said Khoa Pham, Chairman and CEO of YOLA. YOLA is the second education portfolio company of Mekong Capital, which sold its stake in K-12 Vietnam Australia International School to global alternative investment firm TPG.

Starting out in 2009 as an online English education startup, YOLA has evolved into an integrated educational services provider with a wide range of test preparation courses (SAT, TOEFL, IELTS, GMAT, and GRE), English language and soft-skills training, after-school tutoring, summer camps, and the development of educational content.

It has successfully trained over 30,000 students with over 10,000 currently studying abroad, including those admitted to top universities such as Harvard, Stanford, Yale, and Cornell University.

“We will leverage our partnership with Mekong Capital to invest in teacher and talent development, curriculum innovation, and new learning technologies, so that we can achieve better student outcomes, increase student access, and innovate education delivery,” Tu Ngo, co-founder and Vice President of Strategy and Products at YOLA.