Riverhead Capital Investment Management, an investment vehicle for insurance provider Sunshine Insurance Group, has led a RMB200m ($28.3m) series B round for China-based student services provider AW Education International, DealStreetAsia reported yesterday.
Also known as Meishi Education International, AW runs an online platform that helps Chinese students looking to study in countries such as the US, UK and Singapore to apply and train for places at foreign universities.
The company is also forming an industrial fund with Sunshine with a target size of approximately $142m, it said in a WeChat post cited by DealStreetAsia. The series B round came after about $8.5m in series A funding supplied by private equity firm Yonghua Capital in April 2018.
