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Meishubao Education raises $210m in latest financing round

By Cheng Yu | | Updated: 2020-12-24 11:15
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File photo of Meishubao's logo. [Photo/]

China's leading online arts education platform Meishubao Education said on Thursday that it has raised $210 million in its series D round of financing from a consortium led by TPG's global impact investing platform The Rise Fund, the largest single round of financing in China's talent-based education sector.

Founded in 2014 in Beijing, Meishubao Education focuses on arts education for children and adolescents from 3 to 18 years of age in China. The other investors in the financing include Fortune Capital, Winsdom Capital, SAIF Partners, Bojia Capital and Chuangzhi Capital.

"As China's leading art education platform, Meishubao Education leverages advanced technologies to effectively expand the breadth and depth of art education. This model not only provides more interactive education opportunities for children – including those in rural areas – but also builds a larger platform for art educators to demonstrate their value," said Chang Sun, managing partner of TPG China, who oversees the investment activities of TPG and its Rise Fund in the region.

Gan Ling, founder and CEO of Meishubao Education, said: "Capital raised through this round of financing will be mainly used for curriculum development, channel and market development, product and service upgrades, branding, and online and offline business integration in the industrial internet area."

Founded in 2016, The Rise Fund is one of the world's leading impact investing platforms. The fund offers investment resources, business-building skills, and a global network to help scale growth-stage companies that are working toward achieving the United Nations' Sustainable Development Goals. Since its inception, The Rise Fund has invested in three Greater China companies: CD Finance, Du Xiaoman Financial and Green Monday Holdings.

Meishubao Education was founded in 2014 and closed its series C round of financing led by Tencent in July 2020. To date, it has completed seven series of financing totalling over 2 billion yuan ($305 million).

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