Morgan Stanley, Hillhouse Capital lead $115m Series C funding in Golden Education

Hillhouse Capital and Morgan Stanley have reportedly led an RMB800-million ($115 million) Series C funding round in Chinese professional training firm Golden Education.

Yonghua Capital and Vision Knight Capital were also said to have participated in the investment.

The news first appeared on Chinese newswire 36Kr. Hillhouse Capital did not comment, while a request for confirmation sent to Morgan Stanley had not elicited a response at publishing time.

The media report said the financing will help Golden Education deepen its current offerings, while increasing investment in cutting-edge technology such as AI, big data and cloud computing, to bring better learning experience and tailored services to its learners.

Established in 2006, Golden Education provides training services for financial professionals such as accountants, financial managers, finance department staffs and financial officers. It also provides courses in ACCA, CFA, CPA and other global financial professional qualifications.

It had previously raised a $35 million Series A investment in 2014 followed by a Series B round a year later.

The company has more than 40 branches and over 20 campuses across China, serving 50,000 corporate customers including the likes of GE, Coca-Cola and other Fortune 500 companies, as well as 3 million individual users, according to the report.

Private equity firm Hillhouse Capital invests across the equity spectrum, from seed investments to buyouts. It has backed Chinese business majors like Baidu, JD.com, Didi Chuxing and Tencent, and international unicorns including Airnbnb, Grab and Traveloka.

The firm recently raised a $10.6-billion Asia fund in the largest-ever capital raise in the region.

Morgan Stanley’s private equity practice in Asia covers a wide range of sectors, from consumer products, industrial products, to financial services, healthcare and telecom and technology. Companies based in China and Korea have received a significant percentage of the total capital that the firm has invested since 1993.

Its China education portfolioincludese Sino-Canada Education, Noah Education and Coinage International – a provider of similar services to Golden Education.

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.

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.