Vertex commits $5m to China education app Xuebajun
Vertex Venture, an investment unit of Temasek Holdings, has committed $5 million in Series A funding for Shanghai-based mobile study tool developer Xuebajun.
Tay Choon Chong, Vertex's managing director and CIO, has joined the company's board of directors.
Incubated by Innovation Works, the company was set up in June and soon received an undisclosed sum in seed funding. Its mobile technology assists students in homework: they take a photograph of an assignment question, upload it to Xuebajun and the system searches for appropriate answers.
Founded in 1988, Vertex has invested over $1.2 billion in more than 350 start-ups and 90 third-party venture capital and private equity funds in the US, Europe and Asia.
More on Greater China
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.