China's Yuanfudao nets $1b in Series G round led by Hillhouse Capital

China's Yuanfudao nets $1b in Series G round led by Hillhouse Capital

Photo: Internet Archive

Chinese online education platform Yuanfudao, which is backed by Warburg Pincus and technology giant Tencent, has pocketed $1 billion in a Series G round of financing led by Asia-focused private equity major Hillhouse Capital to reach a valuation of $7.8 billion.

Hong Kong-based private equity firm Boyu Capital, as well as returning investors including Tencent and Boston-based investment company IDG Capital participated in the investment, Matrix Partners China announced in a WeChat post on Tuesday.

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