SHANGHAI, Jan. 30, 2023 — On January 25, Beijing time, QuantaSing Group Limited, a Qiming Venture Partners portfolio company and China’s leading online adult interest learning service provider, successfully listed on Nasdaq. QuantaSing Group Limited (NASDAQ:QSG) offered at $12.5/ADS and closed at $12.52/ADS with a market cap of $690 million.
As an early investor, Qiming led QuantaSing’s Series C financing in 2018 and continued to invest in Series D and Series E financing, accompanying the company’s growth and expansion along the way. The successful IPO is also the first IPO Qiming has welcomed in 2023.
QuantaSing is a provider of online learning services targeting adults. With the help of new technologies such as artificial intelligence and mobile internet, it provides users with various courses in differed fields, based on diverse user needs, including financial literacy courses, personal interest courses and talent management services, marketing services for enterprises, etc. Its branches include knowledge sharing service platforms QiNiu Academy, JiangZhen and QianChi Academy.
Under a more mature digital society, the scale and user base of “paying for knowledge” have been increasing in recent years. As of November 30, 2022, the total registered users of QuantaSing were about 75.1 million. According to Frost & Sullivan report, QuantaSing is the largest online learning service provider for adult interest learning in China, and one of the top five service providers in adult learning market in China based on revenue in 2021.
Peng Li, Founder and CEO of QuantaSing Group Limited, said, “In China, ‘building a lifelong learning society for all people and a learning country’ is on the agenda, and we hope that QuantaSing will become an important boosting engine for the ‘learning society’, helping more people fall in love with learning and gain knowledge. We will always stick to our original mission and constantly improve the quality of courses and services, practicing ‘knowledge productivity’ and helping improve public literacy.”
About Qiming Venture Partners
Founded in 2006, Qiming Venture Partners is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou, Hong Kong, Seattle, Boston and the San Francisco Bay Area.
Currently, Qiming Venture Partners manages eleven US Dollar funds and seven RMB funds with $9.4 billion in capital raised. Since our establishment, we have invested in outstanding companies in the Technology and Consumer (T&C) and Healthcare industries at the early and growth stages.
Since our debut, we have backed over 480 fast-growing and innovative companies. Over 180 of our portfolio companies have achieved exits through IPOs at the NYSE, NASDAQ, HKEX, Shanghai Stock Exchange or Shenzhen Stock Exchange, or through M&A or by other means. There are also over 70 portfolio companies that have achieved unicorn status.
Many of our portfolio companies are today’s most influential firms in their respective sectors, including Xiaomi, Meituan, Bilibili, Zhihu, Roborock, Gan & Lee Pharmaceuticals, Tigermed, Zai Lab, CanSino Biologics, Schrödinger, APT Medical, New Horizon Health, Venus MedTech, Sanyou Medical, AmoyDx, Berry Genomics, SinocellTech, Yuanxin Technology, Caidya, Belief BioMed, WeRide, Biren Technology and UBTech among many others.
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SOURCE Qiming Venture Partners
