SoftBank Vision Fund is seeking to invest about $500 million in China’s Zuoyebang as it seeks a stake in the country’s vast online education market, people familiar with the matter said.
The fund, created by SoftBank Group Corp., and Zuoyebang are still finalizing terms of the deal and the details could still change, the people said, asking not to be identified as the details are private. The education technology startup has already raised more than $500 million in funding from investors including Coatue Management, Goldman Sachs Group Inc., Sequoia Capital China and GGV Capital.
