Meishubao Education, a Chinese talent-based education platform, has completed its US$210 million Series D financing, led by TPG’s global impact investing platform The Rise Fund and co-invested by Fortune Capital, Winsdom Capital, SAIF Partners, Bojia Capital, and Chuangzhi Capital.
The deal marks the largest single round of financing in China’s talent-based education sector.
“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,” says Ling Gan, founder and CEO of Meishubao, which uses technology to advance art development and education.
“Inclusive education is one of the key areas of The Rise Fund’s social impact investment, and interactive education is an integral part of getting closer to that objective,” notes Chang Sun, managing partner of TPG China, who oversees the investment activities of TPG and its Rise Fund in the region. “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.”
The Rise Fund, founded in 2016, offers investment resources, business-building skills, and a global network to help scale growth-stage companies that are working towards achieving the United Nations’ Sustainable Development Goals.
Since inception, the fund has invested in three companies in Greater China – CD Finance, Du Xiaoman Financial, and Green Monday Holdings – and backed education technology companies around the world like DreamBox Learning, EVERFI, Renaissance Learning, and Digital House.
Meishubao Education was founded in 2014 and closed its Series C round of financing led by Tencent in July 2020, and other co-investors including Shunwei Capital and BlueRun Ventures. The company raised a total of US$80 million in Series C financing. To date, it has completed seven series of financing totalling over 2 billion yuan.