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Tencent Invests in Overseas Education Startups After China’s Regulatory Tightening
One year since Chinese authorities introduced the “Double Reduction” policy, which implemented tight restrictions on tutoring services, investment in the country’s private education industry has sharply declined.
However, according to information released on September 15 by investment database ITjuzi, Tencent has continued to invest in education startups in Nigeria, Austria and other overseas markets this year.
Tencent ranks among the top five active investors in China’s education industry, and has even surpassed $EAST BUY (01797.HK)$ . In terms of the scale of its investments, Tencent has spent more than 10 billion yuan ($1.43 billion) on the education field during recent years.
According to data from ITjuzi, Tencent has invested in 56 education companies. Among them, there are nine companies that once ranked as unicorns.
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