China’s EdTech assault hits investors from Tiger to Temasek

Harsher curbs imposed by China on private tutoring and online education companies, like TAL Education Group, has shaken investors confidence in the sector. — AP Photo

Global investors from Tiger Global Management to Temasek Holdings Pte are reeling after China imposed the harshest curbs yet on its US$100bil (RM422.35bil) 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.