Zuoyebang’s $750 Million Financing Round

Weil, Gotshal & Manges advised FountainVest Partners on the deal. Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP represented Tiger Global

Zuoyebang raised  $750 million in its latest financing round. U.S. investment firm Tiger Global and Hong Kong-based private equity firm FountainVest Partners led the six-year-old startup’s Series E financing round.

Zuoyebang is one of the leading K-12 online tutoring platforms in China, with more than 50 million total daily active users, 170 million monthly active users and 800 million total registered users. The round was joined by new investor Qatar Investment Authority and return backers SoftBank Vision Fund, Sequoia Capital China, Tiantu Capital and Xiang He Capital.

FountainVest is one of the largest private equity funds dedicated to China. The capital under management comes from some of the world’s largest and most established institutions. FountainVest seeks to invest in industry leaders and emerging leaders with a strong track record delivering high growth.

Tiger Global Management, LLC operates as an investment advisory firm.

The Weil team advising FountainVest was led by Private Equity partner Charles Ching (Picture) and included associates Yujing Liu and Briana Liu.

The Gunderson deal team was led by Zhen Liu and included Richard Chang, Huihui Cai and Kai Sheng.

Involved fees earner: Richard Chang – Goodwin Procter; Huihui Cai – Gunderson Dettmer; Zhen Liu – Gunderson Dettmer; Kai Sheng – Gunderson Dettmer; Charles Ching – Weil, Gotshal & Manges; Yujing Liu – Weil, Gotshal & Manges; Briana Liu – Weil, Gotshal & Manges;

Law Firms: Goodwin Procter; Gunderson Dettmer; Weil, Gotshal & Manges;

Clients: FountainVest Partners; Tiger Global Management;

Author: Michael Patrini