The San Francisco-based Minerva Project, a hybrid online/offline higher education firm, has announced a new round of $70 million funding led by a consortium of three investors from China.
The Chinese investors are: TAL Education Group, a K-12 after school tutoring services provider, ZhenFund, a seed fund in China, and Yongjin Group, a holding company in various industries as well as private equity investments. Minerva students live together in residential halls, at first in San Francisco, and then the same students are due to rotate to different world cities. They take classes virtually via live video sessions in small seminars.
ZhenFund is listed in the Chinese Investors Directory with the code SE31
More details follows