Venture Capital Hits Private Education in China
Filed in archive Venture Capital on September 12, 2007
With improved quality of life, economic growth, the demand for professional skills, and a growing amount of money in the pockets of the average Chinese citizen, it was probably only a matter of time before venture capital came to the education industry. That has finally happened in China this month.
The Carlyle Group put US$20 million of venture capital funds into NeWorld Education Group. The Shanghai-based education firm specializes in language instruction - particularly Japanese. The Carlyle Group's investment flowed through its Carlyle Asia Growth Partners III (CAGP) subsidiary.
NeWorld has over 60 training centers in China and a 30% share of China's Japanese language market. Japanese is the second most popular Foreign language for Chinese students, after English.
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