U.S.-based edtech investors are increasingly going global, but recent regulatory crackdowns in China, which instructed local K-12 tutoring startups to go non-profit, have led to a chill among check-writers looking at the country.
When I first started reporting on edtech over a year ago, U.S.-based investors often cited China as validation of the opportunity for direct-to-consumer businesses in the K-12 world. The success of Chinese edtech was used to predict the surge of U.S.-based consumer edtech, which saw parent adoption surge during the pandemic.
On Saturday, however, the Chinese government rolled out legislation aimed …
