Virtual college Minerva Project has raised the first $50m of a $70m series B round that featured Tal Education Group in order to expands its online schools.
US-based private higher education provider Minerva Project has closed its first tranche of series B funding, raising $50m in a round expected to eventually raise $70m.
Tutoring service Tal Education Group invested in the round, which also included venture capital firm Benchmark Capital, private equity firm Yongjin Group and China-based seed fund Zhen Fund. The company raised $25m from Benchmark in a 2012 series A round.
Minerva Project aims to offer an online take on the American Ivy League university…
