Online education

PE giants focus on education sub-sectors

KKR and Softbank are both targetting the Kindergarten to twelfth grade (K12) education sub-sector in China.

Tighter regulation in China's online education sector has piqued the interest of international investors.

On Monday, KKR and GGV Capital led a $85 million Series D fundraising in mathematical thinking training platform Huohua.

Existing investors including Sequoia, IDG Capital, Nothern Light Venture Capital, Lightspeed China Partners, Longfor Capital and GSR Ventures all participated in the round.

It is only five months since Huohua completed its $40 million Series C fundraising in March. “KKR rushed into this round of fundraising,” one person close to the company told FinanceAsia. “The project passed internal controls within two months.”

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