China-based online arts tuition service Meishubao Education has collected $210m in a series D round featuring Bojia Capital, the corporate venturing arm of chemical producer Do-Fluoride, ChinaDaily has reported.
The round was led by The Rise Fund, an impact-focused investment vehicle for private equity group TPG, and included Fortune Capital, Winsdom Capital, SAIF Partners and Chuangzhi Capital.
Meishubao provides online arts tuition for children and teenagers, and has expanded into offering courses for adult learners that combine elements of online and offline tuition. The series D proceeds will help strengthen its product, distribution and branding.
The company has raised over $305m through seven funding rounds since it was founded in 2014, according to ChinaDaily. Internet company Tencent led a $40m series C-plus round that closed in July 2020 and which was backed by Bojia Capital.
Shunwei Capital, BlueRun Ventures, BHG Long Hills Capital and Chuangzhi Capital also took part in the July round, which followed $40m in series C1 funding from Tencent, BlueRun Ventures, BHG Long Hills Capital, Hony Capital, Welight Capital and SZ Capital in June 2019.
BHG Long Hills Capital had previously led Meishubao’s $15m series B round in late 2018. Mulberry Capital, Sealand Innovation, High Ground Capital and Boya Capital Partners are also among its shareholders.