Exhibit 21.1

List of Subsidiaries

The table below is a complete list of the Company’s subsidiaries as of December 31, 2020:

Name	Principal Activities	Country
Arco Educação S.A.	Holding	Brazil
PSD Educação S.A.	Educational content	Brazil
Barra Américas Editora Ltda.	Educational content	Brazil
Distribuidora de Material Didático Desterro Ltda.	Educational content	Brazil
SAS Sistema de Ensino Ltda.	Educational content	Brazil
Arco Ventures S.A.	Educational content	Brazil
SAS Livrarias Ltda.	Educational content	Brazil
SAE Digital S.A.	Educational content	Brazil
International School Serviços de Ensino, Treinamento e Editoração, Franqueadora S.A.	Educational content	Brazil
Nave à Vela Editora e Comercializadora de Materiais Educacionais S.A.	Educational content	Brazil
EEM Licenciamento de Programas Educacionais Ltda.	Educational technology	Brazil
NLP Soluções Educacionais Ltda.	Educational content	Brazil
WPensar S.A.	Educational technology	Brazil
Geekie Desenvolvimento de Softwares S.A.	Educational technology	Brazil
Studos Software Ltda.	Educational technology	Brazil
Escola de Inteligência Cursos Educacionais S.A.	Educational content	Brazil