Latest Chuangzhi Capital News
Jan 16, 2021
December 24, 2020 – Beijing, China; San Francisco, CA; Fort Worth, TX – Meishubao Education, China’s leading talent-based education platform, today announced the completion of its Series D financing of US$210 million. The investment was 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. Taihecap was the exclusive financial advisor of the deal. This investment marks the largest single round of financing in China’s talent-based education sector. Additional terms of the fundraising round were not disclosed. Founded in 2014, Meishubao Education is committed to using technology to advance art development and has created a unique online art education experience through extensive product innovation. Ling Gan, 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.” “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,” said Chang Sun, Managing Partner of TPG China, who oversees the investment activities of TPG and its Rise Fund in the region. “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. We look forward to working with Meishubao Education to further develop its sales channels and innovate the business toward its goal of applying technologies to advance inclusive arts education for all children.” Founded in 2016, The Rise Fund is one of the world’s leading impact investing platforms. The Rise Fund 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 Rise Fund has invested in three companies in Greater China including 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 RMB2 billion. -End- About The Rise Fund The Rise Fund is the world’s largest global impact platform committed to achieving measurable, positive social and environmental outcomes alongside competitive financial returns. With more than $5 billion in assets under management across its platform, The Rise Fund works with growth-stage, high potential, mission-driven companies that have the power to change the world. Headquartered in San Francisco, The Rise Fund was founded in 2016 to deliver deep expertise in business solutions to help achieve the United Nations’ Sustainable Development Goals. As part of TPG, The Rise Fund offers investment resources, business-building skills, rigorous measurement and a global network to help portfolio companies accelerate growth and impact. With the ability to invest across a wide variety of sectors and countries at scale, The Rise Fund focuses on opportunities in education, energy, food and agriculture, financial technology, healthcare and technology. For more information, visit www.therisefund.com or @therisefund on Instagram.