Yao Capital leads $75m round for China sports school

The company claims to be the largest sports training institution in China, with a network covering 18 cities and comprising nearly 3,000 coaches and one million students. These students, aged 4-12, participate in customized programs across basketball, football, badminton, and fencing.

The company also provides outsourced sports venues management services - it runs more than 1,000 stadiums in China - and holds national sporting competitions that have so far attracted more than 10,000 participants. In addition, Doing Now has invested in the construction of a youth-focused sports training center.

Will Zhu, a managing partner at Yao Capital, said in a statement that China's sports training industry has grown rapidly in recent years but is still at the early stage of development. The GP is optimistic about the industry's expansion prospects and the strong execution capabilities of Doing Now’s management team.

Yao Capital was co-founded by Chinese former NBA star Yao Ming, his business partner Erik Zhang, and David Han, previously a managing director of The Carlyle Group. The firm focuses on growth and buyout sports deals in China as well as overseas. Previous investments include Mailman, Glory Sports International, Formula E Holdings, and Weisai.com.

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• Topics
• Greater China
• Expansion
• Consumer
• China
• Growth capital