Global private equity firm Zephyr Management has led an INR550 million (approximately USD8 million) investment in India-based education finance company Shiksha Finance. India-focused venture capital fund manager Aspada Investment Advisors and the Michael & Susan Dell Foundation also participated in the funding round. The company—which offers school fee loans to middle- and low-income families, and working capital loans to private schools—will use the funds to expand its operations to new states in India and to strengthen its management team.