New Oriental Education & Technology Group has established a RMB1.5 billion (US$220 million) industrial fund to invest in Chinese educational companies, according to the company’s announcement at a press conference last Friday in Beijing.
GGV Capital, XVC Venture Capital Co-lead $20M Series B Round In Chinese On-line Reading Platform Koala Reading
Beijing-based Chinese children’s graded on-line reading platform Koala Reading has raised a US$20 million series B round led by GGV Capital and XVC Venture Capital, according to the company’s announcement.
Chinese K-12 Education Provider Shangde Qizhi Files For HK IPO
Shangde Qizhi Education Group Ltd., a Shanghai-based K-12 private education provider, has filed for initial public offering on Hong Kong Stock Exchange, according to is IPO prospectus.
Popular News App Toutiao May Acquire Chinese Online Eduction Firm Xuebajun
Chinese personal news recommendation app Toutiao is reportedly closing a deal to acquire part of Chinese online education firm Xuebajun’s businesses, according to Chinese local media insiders.
Coatue Management Leads $350M Series D Round In Online Education Platform Zuoyebang
Technology-focused hedge fund Coatue Management has led a US$350 million series D round in Zuoyebang, an online platform that helps K-12 students with homework.
Sinovation Ventures Participate In $30M Series B Round In Chinese Exam Grading Service 7Net
Chinese online exam grading service provider 7Net has raised a RMB200 million (US$30 million) series B round from Sinovation Ventures and others.
Value Partners Sets Up Private Equity Fund To Back Education Firms In China
Hong Kong-based asset management firm Value Partners Group joined Hong Kong-listed China Education Group Holdings to establish a private equity fund focused on the Chinese education sector, with a fundraising target of RMB5 billion (US$753 million).
TAL Education, Source Code Capital Co-lead Series C+ Round In Chinese Online Education Firm
New York Stock Exchange-listed education firm TAL Education, Source Code Capital and a undisclosed sovereign wealth fund led a series C+ round in Haifeng Education, an online K-12 education platform.
Chinese Online Education Firm Hujiang Files For Hong Kong IPO
Shanghai-based online education firm Hujiang Education & Technology Corp Ltd. has filed for an initial public offering in Hong Kong, the latest IPO filing as Chinese technology companies race to complete a stock float while the market remains receptive.
China’s Online Education Startups Score $604M Venture Funding In One Week
China’s relaxed population policy and a cultural emphasis on education have made online education a new favorite for investors. An indicator of this strong enthusiasm is the fact that four Chinese online educational firms have raised a total of US$604.2 million in venture funding this week.
Chinese K-12 Online Education Platform Vipkid Raises $500M Series D+ Round
Vipkid, a Chinese K-12 online education platform, announced that it has raised a US$500 million series D+ round led by technology-focused hedge fund Coatue Management, Tencent Holdings Ltd, Sequoia Capital China, and Jack Ma-backed Yunfeng Capital.
Online Education Platform Knowbox Raises $100M From Yunfeng Capital
China’s K-12 online education platform Knowbox has raised US$100 million in a series C round led by Yunfeng Capital, the latest in a string of investments in China’s online education market.
NetEase Online Education Platform Youdao Completes Series A Round, Reaching A Unicorn Valuation
NetEase Youdao, an online education subsidiary of China’s second-largest game publisher NetEase, has completed its series A round of funding with a valuation of US$1.1 billion led by Mooc-CN Education, with participation by Legend Capital.
China’s 17Zuoye Education Platform Gets $250M From Temesk, Following $200M Investment From Toutiao
China’s online education platform 17Zuoye, owned by Sunny Education Inc., continues to be a magnet for investors. The latest investment is a US$250 million Series E round in led by Singaporean investment fund Temasek. The deal follows a $200 million investment by AI-driven news aggregation company Toutiao on March 7.
China’s Sunlands Online Education Files For $300M IPO In New York
Chinese online education service Sunlands Online Education Group has filed an applications for an initial public offering of up to US$300 million with the U.S. Securities and Exchange Commission.
China’s JD In Talks To Sell 15% Of Logistics Unit To Tencent, Other Investors
China’s e-commerce giant JD.com Inc. is in talks to sell 15% of its logistics unit, JD Logistics, to a group of early investors including Tencent Holdings Ltd., JD.com’s founder Richard Liu said in an interview with media.
ICG Acquires Singapore’s PSB Academy From Baring Private Equity Asia
U.K.-listed Intermediate Capital Group (ICG) and its funds have acquired a 100% stake of Singapore’s private eduction institution PSB Academy (PSB) from Baring Private Equity Asia (BPEA).
Warburg, Genesis Capital Invest $120M In Chinese Online Tutoring Platform Zhangmen
American private equity firm Warburg Pincus’s affiliate and Genesis Capital have invested US$120 million in a series D round in Chinese online tutoring start-up Zhangmen, the company announced in a press release today.
Tiger Global And TAL Education Join $100M Round In Chinese English Education Platform DadaABC
U.S. investment firm Tiger Global Management and New York Exchange-listed education and technology firm TAL Education have invested in a US$100 million series C round in DadaABC, a Chinese online one-on-one English education platform, according to an announcement on the company’s official WeChat account.
Fidelity’s Investment Arms, Northern Light Venture Lead $25M Round In Orient Speech Therapy Center
Fidelity Investments’ Eight Roads Ventures and associated fund F-Prime Capital have teamed up with Northern Light Venture Capital to lead a US$25 million series B round in Chinese speech and language therapy operator, Orient Speech Therapy Center (China) Ltd.
Former Facebook Research Scientist Yang Liu To Lead Education Firm Liulishuo’s New AI Lab
Shanghai-based English language learning platform Liulishuo announced that Dr. Yang Liu, formerly a research scientist at Facebook and a professor at the University of Texas Dallas, has officially joined as the head of its newly open artificial intelligence (AI) lab in Silicon Valley.
Jack Ma’s Alibaba, Xinhua Unleash Robot Journalist Army On China, Raising Privacy Fears
Imagine walking your child to school, then discovering an hour later that you and your child’s image has been featured on state news simply because you happened to walk past a store that was just robbed. This type of invasive news coverage has just become reality in China thanks to a partnership between tech giant Alibaba Group and Chinese state newswires Xinhua News Agency.
CDH Investments Reaches First Closing Of RMB3.2 Billion For Fifth Mezzanine Fund
Chinese private equity firm CDH Investments has reaching a first closing of RMB3.2 billion (US$484 million) for its fifth mezzanine fund, Ning Hu, a managing director at CDH Investments told local Chinese medial.
KKR Adds New Members And Managing Directors, With Seven Additions In Asia Pacific
KKR today announced a newly promoted group of 23 members, which are KKR’s equivalent of partners, and 44 managing directors, effective from January 1, 2018. Two members and five managing directors in Asia Pacific are among the newly anointed top ranks at one of the largest private equity firms in the world with US$153 billion assets under management as of September 30, 2017.
RYB’s Child Abuse Scandal Reflects Poor Diligence By Top Investors Including Hillhouse, Greenwoods
The child abuse scandal at RYB Education Inc. (NYSE:RYB) reduced its stock price by nearly 40% last week, just three months after the company’s New York Stock Exchange IPO. The collapse has cost the company’s top ten institutional investors, including China’s largest private equity fund Hillhouse Capital and well-known investment management firm Greenwoods Asset Management, a combined US$52 million on paper. But the losses might have been avoided if investors had taken into account some inherent weaknesses in RYB’s business …
Chinese Artificial Intelligence-Powered Educational Firm Yixue Education Completes A $41M Angel Round
Yixue Education, a Chinese K12 online education company, has raised RMB270 million (US$41 million) in an angel round from SIG, Nokia Growth Partners, New Oriental Education and Technology Group Inc. and Greenwood Investment, local media reports.
DealShot: Cash Capital Leads $30M Series B+ Round In Chinese Online Education Platform SmartStudy.com
China Money Network’s DealShot provides detailed information on venture capital and private equity deals in China on a daily basis. Here you can find out where Chinese investors have been investing their money in at around 5pm each workday.
DHVC Leads $15M Series B Round in Chinese AI-Driven Education Firm FClassroom
DHVC, or Danhua Capital, a California-based venture capital fund founded by Stanford physics professor Shoucheng Zhang, has led a RMB100 million (US$15 million) series B round in Fclassroom, an artificial intelligence-powered education firm in China.
China’s Tencent Joins $41M Round In US Education Robotics Firm Wonder Workshop
Silicon Valley-based education robots developer Wonder Workshop has raised a US$41 million series C round from a number of investors including Chinese tech giant Tencent Holdings Ltd., SoftBank Group’s unit SoftBank Korea.
China’s RISE Education Completes Strong Nasdaq IPO In Win For Bain Capital
RISE Education, a Chinese provider of after-school English lessons which is backed by Bain Capital, enjoyed a strong debut on the Nasdaq Friday, closing up more than 14% on its first day of trade. The stock closed at US$16.61, compared to its initial public offering (IPO) price of US$14.50. RISE’s IPO was well received, demonstrating investors’ continued interest in China’s fast-growing education sector. The company raised US$160 million by offering 11 million shares at US$14.50, higher than the expected price …
KPCB’s James Huang Says High Healthcare Valuations Force Investors To Seek Early Stage Innovation
China’s healthcare sector is seeing a flood of new capital from from non-professional investors such as Chinese coal mining and factory bosses, according to James Huang, a managing partner at Kleiner Perkins Caufield & Byers (KPCB) China, who focuses on life sciences. As a result, valuations have become excessive, forcing more experienced investors to adopt new strategies to get ahead of the "dumb money."