Education sector-focused private equity (PE) firm Kaizen Management Advisors Pvt. Ltd said it has marked the first close of its second fund—Kaizen Private Equity II—at Rs285 core (about $42 million) with five investors that included institutions and strategic education companies. Some of Kaizen’s portfolio companies include Neev Knowledge Management Pvt. Ltd, which offers online and classroom-based certification courses under the brand EduPristine, a video-based educational services start-up Impartus Innovations, K-12 Techno Services, Varthana, Ace Creating Learning and WizIQ, among others.