On March 8th, the Youth Basketball Development League (YBDL) completed its 50-million-yuan Round A+ financing, which was led by Fosun RZ Capital and co-invested by Delta Capital, according to a recent report. YBDL finished its Round A financing in September 2017, reportedly worth several tens of millions yuan.

The basketball training company, aiming to serve young players aged 4 to 18, has made a presence in more than 30 Chinese cities, with over 10,000 students at over 70 locations across the country.

As Zhang Jinzhi, founder of YBDL said, they have solved the problems caused by geographic restriction, outdated courses and traditional sales models through the combination of their partner investment plan in online and offline education. “YBDL is striving to change the current status of limited sports education resources in Chinese schools. For the time being, we are one of leaders solving problems from a commercial perspective.”

Jin Hualong, President of Fosun RZ Capital, commented saying: “Parents are paying more attention to quality-oriented after-school education for their children, which is what we call updated consumer habits. Therefore, based on the overall strategy of Fosun Group, we will allocate our resources according to the consumption of families.”

Source: Sohu

Proofread by William Logsdon