Arco to Get $150 Million Investment From Dragoneer, General Atlantic

By Matt Grossman

Arco Platform Ltd. said Thursday it would receive $150 million in investments from Dragoneer Investment Group and General Atlantic Partners.

The investments would come through the purchase of convertible senior notes. Dragoneer is making a $100 million investment and General Atlantic is making a $50 million investment. The pair would own 5.6% and 2.8% of Arco, respectively, on an as-converted basis.

Arco, a digital education platform based in Brazil, said that it would use the proceeds to fund its growth strategy, including making acquisitions in new and existing verticals.

Shares climbed 4.7% pre-market.

Write to Matt Grossman at [e-mail]

(END) Dow Jones Newswires

11-18-21 0835ET