Anthology bankruptcy reveals cracks in private equity higher education investment strategy
In September, edtech provider Anthology filed for chapter 11 bankruptcy in the Texas Southern Bankruptcy court, reporting more than $1 billion in liabilities across the company and its many subsidiaries. As one of the largest edtech companies operating in the United States, Anthology crumbled under the weight of private equity’s risky, debt-heavy strategy.
Leeds Equity Partners first invested in edtech company Campus Management in 2008. Campus Management offered several digital products such as student information systems, fundraising platforms, and payroll tools. In 2020, Leeds partnered with Veritas Capital to create Anthology by combining Campus Management with Campus Labs and iModules, two other edtech companies. Altogether, the…
