Ascendent Capital to invest $150m in Chinese gaming firm NetDragon's education arm

Photographer: Xaume Olleros/Bloomberg

Chinese online gaming firm NetDragon Websoft has secured a 1 billion yuan ($150 million) financing from Ascendent Capital Partners for its education subsidiary, per a company filing on Monday.

As part of the deal, NetDragon will issue private convertible securities to Ascendent that can be converted into the ordinary shares of the former’s education arm at a valuation of $1.35 billion.

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