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Laxman Pai, Opalesque Asia:

Asia is attracting outsized investor interest in the education technology (EdTech) industry and private capital deal activity remains dominant.

According to Preqin, venture capital-backed EdTech aggregate deal value in H1 2020 has increased by 166% compared to the same period last year. Furthermore, as the number of deals rose to 219 (compared to 164 in H1 2019) average deal value more than tripled to $32mn.

"The global pandemic is forcing the rapid digitalization of the education sector, as classrooms and courses of all kinds transition online - driving the surge in demand for EdTech solutions around the world. Venture capital investors have reacted quickly, fueling the emerging sector's rapid growth," said Kainoa Blaisdell, a research analyst at Preqin.

According to the report, the three blockbuster EdTech venture capital deals of the year so far have all been in this part of the world.

In March, as global COVID-19 lockdowns intensified, Beijing-headquartered online education company Yuanfudao closed a $1bn financing round led by Tencent Holdings and private equity firm Hillhouse Capital Group, lifting the company's valuation to $7.8bn. And in June Zuoyebang, a Chinese mobile application platform developer targeting primary and secondary school students raised $750mn in Series E funding led by Tiger Global and Hong Kong-headquartered private equity firm FountainVest Partners.

Last week, Bangaluru, India-headquartered ......................

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