Arco Educação, a Brazil-based company providing curriculum, teacher training and consulting services to educational institutions, has raised US$194 million via its initial public offering on Nasdaq. The company, which is backed by global growth equity firm General Atlantic, sold approximately 11.1 million shares at a price of US$17.50 per share in the offering. General Atlantic did not dispose of any shares. The fund manager originally acquired a 20 percent stake in Arco in June 2014 and picked up an additional 6 percent stake for BRL90 million (approximately US$27 million) in November 2017. Separately, General Atlantic has invested US$100 million for a 5 percent stake in Byju, an India-based online tutorial company. The company previously raised funds from the Chan-Zuckerberg Initiative, Sequoia Capital, Sofina, Lightspeed Venture Partners, Verlinvest, Tencent Holdings and Times Internet.