Ambow Newest Education Company to Get VC Funds in China
Filed in archive Venture Capital on October 10, 2007
The China Daily News is reporting that Ambow Education Group has been promised $54 million in venture capital funds. That makes Ambow the largest recipient of VC funds so far in the education sector in China.
The funding came through the Macquarie Bank Group. MBG has several investors for the project, including CID Capital, Cisco Systems and new investor Avenue Capital.
Ambow had already received $10 million in venture capital funding in April 2006. This current round of funding looks set to get used partly to buy up competitors.
Ambow is a major player in China's education industry. Its operations overlap into the technology sector and it deals with K-12 students, higher education, and business training.
The size of this investment will probably generate even more interest in education as a venture capital focus in China.
Tags: Ambow venture capital education
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