Sequoia Capital India along with Song Investment Advisors have invested $15 million (Rs 70 crore) into K-12 Techno Services Pvt Ltd, a firm that manages a network of over 50 schools owned by Hyderabad-headquartered Gowtham Educational Institutions.

Sequoia is leading the investment into K-12 Techno, an infrastructure and technology firm that manages schools, as the domestic regulatory environment prohibits investor ownership of not-for-profit educational assets. Gowtham is among the top three private educational groups in Andhra Pradesh.

The investment will be deployed for expanding Gowtham’s network of model schools across India, sources directly familiar with the development said. Gowtham owns schools, junior colleges and an international school with over 50,000 students on its rolls.

This marks Sequoia’s second investment in India’s education sector. It is already an investor in TutorVista that is rolling out K-12 schools in a joint initiative with Manipal Education. Sequoia Capital has around $1.8 billion under management across three venture capital funds and two growth capital funds.