Chinese tech giant Tencent has made a strategic investment in technology-enabled K12 education institute Aixuexi (formerly Gaosi Education Group) as part of its Series D+ round of financing, per a company statement.
China Renaissance served as financial advisor for the deal.
The undisclosed funding comes after Aixuexi raised 983 million yuan ($140 million) in its Series D round earlier in April.
Warburg Pincus led the $140-million Series D funding round in Beijing-based education services provider Gaosi Education Group, per our earlier report. Gaosi Education founder and CEO Xu Jicheng had reportedly said, at that time, that the fundraising amount was one of the biggest in the history for educational firms that provide services for corporate clients in the field of K12 education.
The earlier funding round had brought Gaosi’s total external capital raised to $286.4 million, over four rounds, according to Crunchbase.
Founded in 2009, Beijing-based Aixuexi operates in the primary to high school segment offering unique courses in the STEM (Science, Technology, Engineering, Arts, Math) field. Aixuexi has covered 31 regions and has over 16 million students in China.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on November26-27, 2019.
