Draft:EQuest Education Group

EQuest Education Group (EQuest) is a private educational institution in Vietnam with member units organized into three divisions: K12 Education (K12), University and Vocational Colleges (C&U) , Education Technology (EdTech)  , and English as a Second Language (ESL).

EQuest has successfully raised foreign capital from two investment and private equity funds: TAEL Partners (Singapore). and KKR (USA)

EQuest and other member units of K-12, as well as EdTech and ESL, were accredited by the three Cognia accreditation divisions.

Founding
Founded in 2003 as EQuest Academy in Hanoi, Vietnam, the institution initially provided services for students preparing to study abroad, including test preparation and assistance with study abroad applications..

In the fourth quarter of 2013, EQuest acquired shares of a foreign investment fund in the Institution of American Education (IAE). After the merger, the member units were restructured and operated under the IAE legal entity. Over the following three years, IAE merged VATC English Systems, several software companies, and schools. In November 2019, IAE became EQuest Education Group (EQuest Group).

Important Milestones
EQuest Education Group began its journey in September 2003 as EQuest Academy, offering overseas study consulting services and student admissions support, including standardized test preparation for exams like TOEFL, SAT, GMAT, and GRE. The group diversified in May 2012 by founding iSMART Education, an educational technology company.

In December 2013, EQuest expanded its operations by welcoming VATC English learning centers, American Polytechnic College, and Broward College Vietnam as part of the group. By June 2016, the group included Saigon Polytechnic College and had iSMART operating licenses in Hanoi and Ho Chi Minh City.

In October 2016, EQuest secured Series A funding from Singapore's TAEL Partners, a private equity investor. In March 2017, the company rebranded EQuest Academy as IvyPrep Education. Subsequently, the group saw a series of educational institutions join its ranks: Phu Xuan University in April 2018, Alpha School in June 2018, Newton Grammar School in November 2018 , and Victory Experimental School in January 2019.

Throughout 2019, iSMART expanded its reach by obtaining 14 operating licenses across the country, while the 789.vn platform became EQuest's 10th member in October of that year. In November 2019, EQuest rebranded its holding company as EQuest Education Group and launched iTD Academy for teacher training and international examinations. The group continued its growth by adding Victory High School (formerly known as Dong Do High School) in December 2019 and Viet My Hanoi College in January 2020

In April 2020, EQuest signed a strategic partnership agreement with Ivy Global School in the U.S. and became the major shareholder of the Hanoi Primary School for Educational Technology in May 2021. That same month, St. Nicholas School Da Nang became the 15th member of EQuest Education Group. In June 2021, EQuest secured a $100 million investment from KKR

Further expansion occurred in May 2022 when Happy School in Vung Tau joined the group. In July 2022, EQuest received accreditation from three divisions of Cognia, including North Central Association of Colleges and Schools (NCA CASI), Northwest Accreditation Commission (NWAC), and Southern Association of Colleges and Schools (SACS CASI).

In December 2022, EQuest became a key shareholder and operator of the Canadian International School System in Ho Chi Minh City. In May 2023, EQuest secured US$120 million in debt from an undisclosed creditor and equity funding from existing investor KKR.

In November 2023, EQuest received the ESG Impact Showcase award for its initiatives contributing to sustainable development