Mesa School Set to Raise Rs 100 Crore in Series A, Co-founder May Sell 2.9% Stake
Bengaluru-based Mesa School of Business is closing in on a Rs 100 crore Series A round, structured with roughly Rs 84 crore coming in as fresh equity and the remaining Rs 16 crore through venture debt, according to sources familiar with the transaction. The round has yet to be completed.
Here's the interesting side story running alongside the primary raise. Mesa co-founder Varun Limaye is looking to sell around a 2.9% stake for approximately Rs 3 crore in a separate secondary transaction. Sources say this secondary component is being picked up by existing investors looking to increase their ownership in the company, though it couldn't be independently confirmed whether Elevation Capital is participating in that particular purchase.
The business itself sits in a genuinely emerging category. Mesa runs a full-time, residential business school model built around startup leadership, entrepreneurship, product and AI, currently operating three programmes designed for different learner segments, including fresh graduates and MBA candidates. It was founded by Ankit Kumar (also referred to as Ankit Agarwal in some reports) and Varun Limaye, with the curriculum built in collaboration with startup leaders and hiring partners for small, founding-style cohorts.
The backing here carries real credibility. Mesa first raised around Rs 34 crore ($4 million) in its seed round back in April 2023, led by Elevation Capital, with angel participation from a genuinely notable lineup, CRED founder Kunal Shah, Meesho co-founder Vidit Aatrey, and Urban Company co-founder Abhiraj Bhal all wrote checks early.
The competitive landscape adds context to why this raise matters. Mesa operates in India's fast-growing new-age business education space, going up against players like Masters' Union, Altera Institute and Scaler, all of which blend traditional business education with hands-on exposure to technology, product and the startup ecosystem, a space that's clearly attracting serious investor attention as India's talent pipeline evolves beyond conventional MBA programmes.
From a Rs 34 crore seed check to a Rs 100 crore Series A in the works, Mesa's trajectory says a lot about how much conviction investors now have in founder-style business education.
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