China Deal Monitor: Qin-han raises $21m and more updates

Chinese traditional culture learning provider Qin-han Hutong Education has secured a total of 150 million yuan ($21 million) in a Series B round of financing led by Mingde Chuancheng, according to a company statement.

The current round comes a year after Qin-han raised 100 million yuan ($14 million) in a Series A round led by private equity firm V-Capital in 2018.

Qin-han will use the proceeds to spruce up its online and offline businesses.

The Shanghai-headquartered educator offers about 20 classic Chinese culture courses for children aged 4-12. These courses include calligraphy, painting, chess, zither, pipa, erhu, and tea ceremony.

Since 2002, Qin-han has set up nearly 70 education centres in the first and second-tier cities. In 2019, it recorded approximately 400 million yuan ($56 million) in annual revenue. 

Founded in 2018, Mingde Chuancheng is into education consulting. Fotile, one of China’s largest kitchen appliances suppliers, is the second-largest shareholder in Mingde.

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on March 25, 2020. 

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.