A fund co-created by Shanghai Jiao Ton University's investment unit backs Jerry Education's $40m round to open more schools and develop an online platform.
Jerry Education, a China-based tutoring service for primary and secondary students, has raised RMB260m ($40m) in its series A round from a fund co-founded by Shanghai Jiao Tong University, China Money Network has reported.
The fund was jointly created by Shanghai Jiao Tong University’s investment unit and private equity fund Sailing Capital.
Jerry Education provides tutoring services to students in primary and secondary education – pupils aged 5 to 16. It currently also runs 59 schools that have a combined student population of more than 100,000.
The company plans to use the money to open additional schools and develop an online platform.
