Another corporate backer is Internet company Heyi Group which had taken part in a $14m round in 2015.
Logicreation intends to issue 10 million shares with a target valuation of $586m and China International Capital Corporation was appointed as its lead underwriter. The company plans to use proceeds from the offering to further develop its technology, improve its educational centres and support a research centre.
Launched in 2014, Logicreation has developed a platform for adult learning services via a talk show, live streams and interactive courses. The company’s offering includes Dedao University and the WeChat-based digital tool Luoji Siwei.
This upcoming IPO will be one of the relatively few exits we have seen for corporate venturers in the broader edtech space. This IPO will be one of the relatively few exits we have seen for corporate venturers in the broader edtech space. Exits have been few and far between in recent years. We are likely to see more exits, as there has been much investment in this space in previous years and the pandemic has given it a boost.
