Fenwick & West represented Minerva Project, Inc., a reinvented university experience for the brightest, most motivated students, in a $70M Series B financing. The funding comes from a global group of investors representing the education, investment and innovation sectors, including a consortium of three investors from China leading the round: TAL Education Group (NYSE: XRS), a leading K-12 after school tutoring services provider, ZhenFund, a leading seed fund in China, and Yongjin Group, a holding company in various industries as well as private equity investments. Benchmark Capital, the firm who made the original seed investment in 2012, is returning to this round with an additional commitment as well. The first close includes the lead investors and Benchmark Capital, while a second close will occur in the coming months.
With this new round of funding, the company will scale the Minerva Schools at KGI, delivering on the promise to build a quality education and make it accessible and affordable to every student in the world that qualifies for admission. More information about Minerva Project’s $70M Series B financing can be obtained from the company announcement.
The Fenwick transaction team was led by corporate partner Ted Wang and corporate associates Amna Latif, Christine Chen and Tim Lee.