Beijing-based private equity firm Hao Capital says that it has participated in series C financing for Beijing Wanxue Education Technology Limited, alongside co-investors Baidu Inc. and Doll Capital Management (DCM), according to an announcement made by Hao Capital.
Deal size and other details of the investment were not disclosed.
The latest round of financing will be used to further grow Wanxue’s online education business and promote the development of its cloud-based learning portal.
"Wanxue is representative of the education industry’s future," says Kenneth Yan, principal of Hao Capital. "With its nation-wide coverage and established technology we are confident that Wanxue is well-placed to address the growing demand for online education."
Wanxue provides professional and academic training for college students in China. Established in 2006, Wanxue specializes in preparation courses for post-graduate entrance exams and civil service exams across China.