Sports Training Firm Doing Now Completes USD76.9 Million in Financing Led by Yao Capital
Zhang Xia
DATE:  Sep 28 2017
/ SOURCE:  Yicai
Sports Training Firm Doing Now Completes USD76.9 Million in Financing Led by Yao Capital Sports Training Firm Doing Now Completes USD76.9 Million in Financing Led by Yao Capital

(Yicai Global) Sept. 28 -- Sports training firm Doing Now, a subsidiary of Beijing Yundonghui Sports Technology Co., has secured CNY500 million (USD76.9 million) in financing to mark the biggest funding deal in China's sports industry so far this year, PE Daily reported on Sept. 28.

The funding was led by Yao Capital, a capital venture fund established by former NBA basketball player Yao Ming and four other veteran investors.

Doing Now, founded in 2010, provides sports training services for young people aged four to 17. The firm has developed three major businesses including sports training, sports events and sports venues, and has carried out training programs related to basketball, football, badminton, tennis and fencing.

The company will increase investment and efforts to develop sports curriculum research and expand into more types of training programs. It will also strengthen investment in its brand and market to create a targeted sports consumer ecosystem.

China's sports training market is currently developing rapidly and the whole industry has a bright future, said Zhu Gang, managing partner at Yao Capital. Doing Now has now become a leading firm in youth sports training, he added.

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Keywords:   Capital,Sports Training