New Oriental Education and Technology will invest in education-focused startups through a fund backed by fellow corporates 51Job and Sunlands Education.
China-based educational services provider New Oriental Education and Technology formed a RMB1.5bn ($220m) investment fund on Friday that will target education-focused companies, China Money Network reported today.
Educational services firm Sunlands Education and recruitment platform 51Job have also backed the fund, as have financial services providers Industrial and Commercial Bank of China, Citic Trust, Noah Group and Gaodun Finance.
Municipal government-owned fund manager Zhangjiagang Industrial Capital Center is also a limited partner.
The vehicle will focus on early-stage startups based…
