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What you need to know:How Headaches Are Piling Up for China’s Mighty Tech Firms
Technology

China’s EdTech Assault Hits Investors From Tiger to Temasek

  • China bans tutoring firms from making profit, raising capital
  • Sequoia China, GIC, DST, Warburg Pincus have been big backers
CHINA-EDUCATION-EXAMINATION

Photographer: AFP/Getty Images

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Global investors from Tiger Global Management to Temasek Holdings Pte are reeling after China imposed the harshest curbs yet on its $100 billion private tutoring and online education sector.

China on Saturday ordered companies that offer tutoring on the school curriculum to go non-profit, potentially wiping out a big chunk of the billions that private equity and venture capital funds have staked on a once red-hot sector.